Kinross to develop Gil-Sourdough deposits near Fort Knox

Kinross recently announced plans to develop the Gil-Sourdough satellite gold deposits located approximately 13 kilometres east of Fort Knox.

The Gil Project has been 35+ years in the making, and was initially explored from 1982-1993. The project was first looked at as a stand-alone mine from 2006-2015, as of 2018 the project shifted to focus on utilizing the existing Fort Knox infrastructure. Gil is a strong option for Kinross Alaska’s strategy to leverage Fort Knox’s mill and offers the opportunity to have a smaller footprint with the higher grade project.

“While the Gil deposit has been part of the company resource portfolio for many years, it is only with the recent paradigm shift to leverage the Fort Knox mill and today’s continued strong gold price environment that the company sees a timely opportunity for development,” said Anna Atchison,External Affairs Manager, Alaska.

The Gil pits are expected to produce approximately 160,000 Au eq. oz. over a two-year mine life at an estimated average cost of sales of approximately $920 per Au eq. oz. Production is scheduled to commence in Q4 2021 with ore being hauled to the Fort Knox mill for processing using the mine’s existing road network.

To learn more about Gil, view our Q1 2021 news release here.

A historic aerial view of the Gil deposit
The Gil deposit from afar
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