Vancouver-headquartered miner Artemis Gold has made the final payment of C$50-million to New Gold for the acquisition of the Blackwater gold project, in central British Columbia.
The company has bought the Blackwater project for C$190-million and plans to develop it into a 250 000 oz/y operation, which will cost less than C$600-million. Two subsequent expansion stages are also on the cards.
Last month, British Columbia approved early construction works – the first step required for mine construction – at the Blackwater project. The permit allows for the necessary site preparation and land clearing work to begin.