Hemlo Mining president-CEO Jason Kosec said it’s been a “seamless” transition” in taking over and running the Hemlo mine on the north shore of Lake Superior.
Just before Christmas, Hemlo Mining, a new mid-tier Canadian gold player, announced it had made the largest single gold pour this year at the underground operation, 35 kilometres east of Marathon.
On Nov. 26, the same day the Toronto gold company officially closed the US$1.1-billion acquisition from Barrick Mining, the first gold pour of 6,704 ounces was made under the new banner.
The company, formerly known as Carcetti Capital, hit the TSX-V trading floor on Dec. 2.
In a Dec. 18 statement, Kosec said its first gold pour was a milestone moment.
“Against a record gold-price environment, our team executed a seamless operational transition while maintaining an uncompromising focus on health, safety, and the environment. This pour reflects the strength of our mine, the quality of our people, and the disciplined plan we are now putting into action to stabilize operations, drive performance, and unlock meaningful long-term value."
The Hemlo mine is the company’s only mining asset. There is an identified 14 years of gold reserve on the 45,000-hectare property. Hemlo is located in one of Canada’s leading gold mining camps where more than 25 million ounces have been extracted since mining began there in 1985.
The projected annual gold production under the Hemlo Mining flag is expected to be 150,000 ounces. Hemlo believes the property has plenty of upside and expects to launch an aggressive exploration program to define more resources.
Hemlo Mining said it’s committed to establishing itself as a “high-performing, responsibly-operated Canadian gold mine with substantial growth potential.” Expect a full corporate update in January. the company said.