Artemis Gold Inc. (TSX-V: ARTG)’s primary contractor is well on its way to completing an integral part of the largest gold mining operation in British Columbia’s Cariboo region and has filled all the key positions required for the project.
Artemis provided a construction update for the Blackwater Mine and its processing plant on Monday and says that over 90 per cent of the plant’s equipment packages have been awarded by its engineering, procurement and construction contractor Sedgman Canada Limited.
As of the end of February, Sedgman had completed about 63 per cent of the detailed engineering required for the plant. Items in the new equipment packages for the project include the ball mill, gravity concentrators, a gyratory crusher, vibrating screens, tertiary crushers and solution pumps.
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Artemis says Sedgman has filled all the key positions for the project and that there are more than 80 full-time employees in the company’s Vancouver office that are currently assigned to Blackwater.
“Manufacturing has commenced and is proceeding in accordance with the relative fabrication vendor schedules/timelines,” said Artemis in a news release Monday in reference to the new equipment.
The news follows Artemis receiving a B.C. Mines Act Permit required to commence major construction at the site earlier this month, an achievement that received praise from the province’s prime minister.
The Blackwater Mine is expected to contribute about $13.2 billion to British Columbia’s economy over the course of its life and will create approximately 825 jobs. The site is estimated to have 8 million ounces of gold reserves and Artemis expects to have its first gold pour at the Cariboo project by June next year.
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Artemis has ordered the initial fleet of construction equipment from Finning International Inc (TSX: FTT) for the project and First Nations groups such as the Lhoosk’uz Dené Nation and Ulkatcho First Nation also voiced their enthusiasm for the mine earlier this month.
Artemis Gold’s stock rose by 4.76 per cent on Monday to $5.28 on the TSX Venture Exchange.