Detour Gold Corporation
Recent Developments
Photo: Aerial view of Detour Lake open pit, looking east.
Q3 2013 Summary
Detour Gold reported its third quarter operational update on the Detour Lake mine on October 9, 2013. The Company continues to make positive progress on the ramp-up of the mine with commercial production reached on August 12, 2013. The Company produced 75,672 ounces of gold in the third quarter, for a total of 150,410 ounces over the first nine months of 2013.
Highlights
• Commercial production reached on August 12 (declared September 1)
• Gold productionof 75,672 ounces (80,765 ounces poured)
• Mill processing rates averaging 42,142 tonnes per calendar day (or 53,821 tonnes per operating day)
• Mining rates steadily increasing from 158,000 tpd in July to 201,000 tpd in September
• Tailings dam construction for 2014 mining operation fully complete
Detour Lake Mine - Ramp-up Update
During the third quarter, the mill processed a total of 3.88 million tonnes (Mt) of ore from a combination of direct feed and run-of-mine stockpiles. The mill facility (both grinding lines) reported an average of 42,142 tonnes (a 33% improvement from the second quarter) processed per calendar day (53,821 tonnes per operating day) with a record day at 58,000 tonnes. There were 12 days in September where the mill processed more than 50,000 tonnes per day.
Mill availability improved from 68% during the second quarter to 78% during the third quarter. A six-day planned shutdown reduced availability by 10% in September. The planned shutdown was scheduled to change the shell liners for the first time in both SAG mills and included other maintenance that was required after nine months of operation. In the third quarter, design and operational changes were implemented on the secondary crushers’ shuttle conveyors which will lead to further improvement in availability during the fourth quarter.
The mill processed 3.88 Mt at an average grade of 0.72 g/t with recoveries of 85% for a gold production of 75,672 ounces. Recovery in the last two months of the quarter averaged 87%. Recovery is expected to further improve in the fourth quarter with higher availability of the gravity circuit.
The head grade was slightly lower than planned in the third quarter due to the lower grade stockpile contribution (487,900 tonnes at 0.57 g/t, or 13% of total feed) and a mining dilution of 8% (an improvement over the 12% mining dilution obtained in the second quarter). The reserve grade for the quarter of 0.78 g/t reconciled well with grade control (reverse circulation drilling).
2013 Detour Lake Mine Operation Statistics:
(1) Q3 = 80,765 oz poured (circuit inventory reduced from 23,189 to 17,998 oz).
(2) During September, the first month of commercial production, the Detour Lake mine produced 24,021 oz of gold.
2013 Detour Lake Mine Operation Statistics:
(1) Q3 = 80,765 oz poured (circuit inventory reduced from 23,189 to 17,998 oz).
(2) During September, the first month of commercial production, the Detour Lake mine produced 24,021 oz of gold.
The open pit operation mined 16.6 Mt during the third quarter, of which 12.4 Mt were waste (including 4.16 Mt of overburden and till) for a quarterly strip ratio of 2.98 to 1 (4.16 Mt of ore mined). At the end of September, the run-of-mine ore stockpiles contained over 1.77 Mt grading 0.72 g/t.
Mining rates during the third quarter averaged 180,222 tpd of total material moved (overburden, ore, and waste). Mining rates reached an average of 201,000 tpd in September with a record day at 252,000 tpd. This significant improvement (27% from the start of the quarter) is the result of higher shovel productivity rates, increased pit access, higher blasted rock inventory, and quality of haul roads. The Company targets to exit 2013 at a mining rate of 250,000 tpd.
Pre-stripping activities continued during the quarter to provide access to the higher grade zone (Domain 2) located just west of the former Campbell pit (with an average grade of 1.2 g/t). Mining of Domain 2 is scheduled to start in the fourth quarter.
In preparation for the 2014 mine plan, a contractor with smaller equipment has started work in the south part of the pit to further accelerate pre-stripping (removal of 2 Mt of overburden) for the construction of a second haulage road south of the pit.
The Company is taking delivery of an additional hydraulic shovel (CAT 6060) in November along with three haul trucks (CAT 795F) before year-end. In 2014, the Company will have a mining fleet of 23 haul trucks, three hydraulic shovels (CAT 6060), one excavator (CAT 6030), and two rope shovels (CAT 7495).
2013 Guidance
On August 14, 2013, the Company revised its 2013 forecast gold production to approximately 270,000 oz. It anticipates that its total cash costs for the post-commercial production period for 2013 will be approximately US$1,100 per ounce as it completes its ramp-up to a more steady state of production
Detour Lake October 2009 Technical Report
Detour Lake October 2009 Technical Report
NI 43-101 Disclosure
On September 4, 2012, Detour Gold announced an updated mine production plan for the Detour Lake project. The NI 43-101 compliant Technical Report for this update was filed on SEDAR on October 18, 2012. The following QPs participated in this update: BBA Inc., under the direction of André Allaire, Eng., Vice-President, Markets – Mining and Metals and Patrice Live, Eng., Mining Manager; SGS Canada Inc., under the direction of Michel Dagbert, Eng., Senior Geostatistician and Maxime Dupéré, P.Geo., Senior Geologist; and AMEC Environment & Infrastructure, a Division of AMEC Americas Limited, David G. Ritchie M.Eng., P.Eng, Senior Associate Geotechnical Engineer.
Information Concerning Estimates of Mineral Reserves and Resources
The mineral reserve and resource estimates reported in this website were prepared in accordance with Canadian National Instrument 43-101Standards of Disclosure for Mineral Projects (“NI 43-101”), as required by Canadian securities regulatory authorities. For United States reporting purposes, the United States Securities and Exchange Commission (“SEC”) applies different standards in order to classify mineralization as a reserve. In particular, while the terms “measured,” “indicated” and “inferred” mineral resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into reserves. In addition, “inferred” mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, issuers must not make any disclosure of results of an economic analysis that includes inferred mineral resources, except in rare cases.
Source: http://www.detourgold.com/Projects/detour-lake-mine/detour-lake-mine-recent-development/default.aspx
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MINE PLANNING TECHNICIAN TRAINEE
Based at the Detour Lake Mine site, we currently have an exciting opportunity for a Mine Planning Technician Trainee to join our Technical Services team reporting to the Mine Planning Superintendent.
SENIOR MINE GEOLOGIST
Based at the Canadian Operations Centre in Timmins, ON, we currently have an exciting opportunity for a Senior Mine Geologist to join our Geology team reporting to the Geology Superintendent.
PROCESS PLANT RELIABILITY ENGINEER
Based at the Detour Lake Mine site, we currently have an exciting opportunity for a Process Plant Reliability Engineer to join our Process Plant Maintenance team reporting to the Reliability Supervisor.
IT SUPPORT ANALYST
Based at the Corporate Office in Toronto, ON, we currently have an exciting opportunity for an IT Support Analyst to join our Business Intelligence division reporting to the VP, Business Intelligence.
PROCESS PLANT MAINTENANCE ELECTRICIAN
Based at the Detour Lake Mine site, we currently have an exciting opportunity for a Process Plant Maintenance Electrician to join our Process Plant Maintenance team reporting to the Process Plant Maintenance Electrical Supervisor.
HAUL TRUCK OPERATOR
Based at the Detour Lake Mine site, we currently have an exciting opportunity for a Haul Truck Operator to join our Mine Operations team reporting to the Mine Supervisor.
MANAGER, IT OPERATIONS CANADA
Based at the Canadian Operations Centre in Timmins, ON, we currently have an exciting opportunity for a Manager, IT Operations Canada to join our Business Intelligence Team reporting to the VP, Business Intelligence.
EXPLORATION COORDINATOR
Based at the Detour Lake Mine site, we currently have an exciting opportunity for a Exploration Coordinator to join our Exploration team, reporting to the Exploration Superintendent.
MANAGER, FP&A AND REPORTING
Based at the Toronto Corporate Office, we currently have an exciting opportunity for a Manager, FP&A and Reporting to join our finance team, reporting to the Corporate Controller.