Gold miner EvolutionMining is still hopeful for growth at its Red Lake mine in Ontario diggersndealers mining investment resources Canada Australia
KALGOORLIE – Gold miner Evolution Mining is tracking some 12 months behind on its plans at the Red Lake project, in Canada, however, the company is confident that it can achieve its production goals.
“It’s a mine that really needed a lot of recapitalisation, and we underestimated the amount of recapitalisation. That has been the distraction and disappointment in terms of the speed with which we have been able to turn it around. Despite the struggles at Red Lake, Klein was positive that Evolution would be able to bring the project up to scratch.
“We believe the future is in a two-million-tonne-a-year operation, processing what by Red Lake standards would be a low grade of 6 g/t of gold. By Australian standards 6 g/t gold is considered high grade and if you produce, and if you process, two-million tonnes at 6 g/t you will produce over 300 000 oz of low-cost gold over a very long mined life."
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