Toronto-listed Marathon Gold has started early works site activities at the Valentine gold project, in central Newfoundland, having satisfied the preconstruction environmental assessment release conditions.

Marathon has mobilised an early works programme to the site in support of a development schedule that sees full mobilisation starting early in the first quarter of 2023, first ore to the mill at the end of 2024 and a production ramp-up during the first quarter of 2025.

Last month, the board of Marathon announced a formal decision to proceed to construction of the Valentine project and issued a new cost to completion figure of C$470-million to C$490-million, including early works to be carried out in the fourth quarter. This compares with the C$305-million initial capital cost contained within the project’s April 2021 feasibility study.

“We have now mobilised our early works programme to the Valentine site, based on the receipt of all appropriate permits to allow work to proceed. This programme involves the installation of a temporary camp, clearing, grubbing and pad construction for the permanent camp, road and bridge upgrades on our access road from the community of Millertown, and pond dewatering ahead of pre-stripping at the Leprechaun deposit,” says president and CEO Matt Manson.

Currently, about 100 persons are employed at project site with Marathon or its contractors.

Work has also started on the project’s powerline from the nearby Star Lake generating station, under the auspices of NL Hydro.

Further, Manson notes that Marathon is continuing to advance an updated feasibility study for the project, which will refresh cost and scheduling data. It will also consider, for the first time, the addition of the new Berry deposit to the mine plan, offering an extension to the project’s mine life and an improved gold production profile.