On June 12th, 2018 Kinross announced that we will be proceeding with the initial Gilmore expansion project at our Fort Knox mine in Alaska.
The expansion is expected to extend mine life to 2030 at a low capital cost, and add 1.5 million gold equivalent ounces of production over life of mine at one of our top performing operations.
“With additional upside potential beyond the Gilmore project, Fort Knox is a significant asset in our portfolio located in an excellent mining jurisdiction. The Gilmore project and the addition of estimated mineral resources improves value and is expected to be a key contributor to the future growth of our Company,” said J. Paul Rollinson, President & CEO.
Kinross gained mineral rights to the 287-hectare (709 acre) parcel of land known as Gilmore in December 2017, located immediately west of the Fort Knox mine in Alaska.
Over the last six months, a feasibility study that analyzed the first two phases of a potential multi-phase layback of the pit and construction of new heap leach pad was completed. Early construction work at Gilmore is expected to begin soon, with initial production from the project expected in early 2020.
For more information on the expansion, view the news release here.
A cross section of Fort Knox as of December 31st. The current mining surface can be seen in black, pre-Gilmore reserve pit in orange, post-Gilmore reserve pit in green and post-Gilmore resource pit in yellow.