The Battle North board has approved full construction of the Bateman project.
The board of Battle North has approved the construction of the C$109-million Bateman gold project, in the renowned Red Lake district of Ontario.
The project will be funded through to production using cash on its balance sheet and a $40-million credit facility that was signed with Macquarie Bank in December.
Battle North is targeting the processing of ore by the end of 2021 and aims to achieve commercial production by the end of 2022.
The Bateman mine will produce 73 835 oz/y over an 8.2-year mine life at a C1 cash cost and all-in sustaining cost of $613/oz and $865/oz, respectively.
“Construction on critical path items has commenced at the Bateman gold project and we are excited that the board has approved the full construction of the project, with the potential to be pouring first gold by the end of the year,” commented CEO George Ogilvie.
Meanwhile, the company also announced the appointment of Rachel Pineault as VP human resources.