“With this approval and the recent issuance of Provincial mining and surface leases for Berry and associated infrastructure, we now have the major approvals required for the three-pit mine plan included in the 2022 Feasibility Study,” Calibre CEO Darren Hall said in a news release.
“Since acquiring Valentine in January, we have progressed engineering to 98%, advanced construction from 50% to 77%, and employed an experienced operations team, positioning us to deliver first gold in Q2, 2025,” Hall said.
Valentine comprises a series of mineralized deposits along a 20-kilometre trend. The December 2022 Feasibility Study outlined an open pit mining and conventional milling operation over a 14.3 year mine life with a 22% after-tax rate of return and an average gold production profile of 195,000 ounces of gold per year for the first 12 years.
The project has estimated Proven and Probable Mineral Reserves of 2.7 Moz (51.6 Mt at…
