With procurement mostly completed, the precious metals company plans to review the detailed construction schedule and identify possible improvements to deliver specific work scopes on time
Sabina Gold & Silver all set for full construction on the Goose gold mine. (Credit: Sabina Gold & Silver Corp.)
Sabina Gold & Silver announced that it is all set to launch full construction on the C$610 ($451.7m) Goose gold mine at its fully-owned Back River gold project in Nunavut, Canada.
The Canadian gold miner said that it is prepared for the construction activities scheduled to begin in 2023. It will be mostly focussed on constructing envelopes or frames and perimeter concrete.
With procurement mostly completed, the precious metals company plans to review the detailed construction schedule. The company will also identify potential improvements to deliver specific work scopes on time.
Sabina Gold & Silver president and CEO Bruce McLeod said: “Completion of the 2022 summer sealift enables us to maintain our planned schedule for full construction to commence in 2023.
“With the sealift complete, we are now preparing for 2023, which includes the construction of our Winter Ice Road to transport equipment and supplies to the Goose site early in the spring of next year.
“Civil works are complete at the plant lay down area and we are ready for foundation preparation in advance of concrete and steel erection next summer. Pre-stripping continues at the Echo pit with the first ore encountered.”
According to Sabina Gold & Silver, the construction activities to begin in 2023 will include expanding the road network, constructing an emulsion plant, and installing the phase 1 primary pond water management facility.
It will also include the continued pre-development stripping of the Echo pit with waste/ore stockpiling, batch plant assembly, building of concrete works and envelope erection, construction of MSE wall, and placement of conveyor gallery and arctic corridor.
Sabina Gold & Silver said that the project has received all the key permits and authorisations for construction and operations.
The company has also arranged a project financing package of $425m through senior secured debt facility, gold prepay, and stream package with Orion Mine Finance and Wheaton Precious Metals. It has also secured $221m in equity, which includes Zhaojin Mining’s participation.
In September 2022, the mining company made the formal construction decision for the Goose gold mine.
According to an updated feasibility study in 2021, the Goose gold mine is estimated to produce nearly 223,000 ounces of gold annually for about 15 years with a payback of 2.3 years.