- Kinross (K) has detailed its development plans for the Great Bear Project located in the Red Lake mining district in Ontario
- Plans include an initial inferred mineral resource by year-end and a pre-feasibility study in 2023
- It expects to complete approximately 200,000 m of drilling in 2022 focused on the LP Fault Zone, the project’s most significant discovery
- Kinross is a senior gold mining company based in Canada
- Kinross (K) is up by 0.54 per cent trading at $7.38 per share
Kinross (K) has detailed its development plans for the Great Bear Project.
The project, located in the Red Lake mining district in Ontario, is part of the acquisition of Great Bear Resources, which was finalized on February 24, 2022.
The company intends to declare an initial inferred mineral resource as part of its 2022 year-end results and commence a pre-feasibility study in 2023.
It expects to complete approximately 200,000 m of drilling in 2022 focused on the LP Fault Zone, the project’s most significant discovery.
It has begun fieldwork including metallurgy, hydrology and geotechnical drilling and test work, as well as permitting baseline studies.
It has also begun a stakeholder engagement program focused on local communities, as well as the Wabauskang and Lac Seul First Nations, on whose territories the project is located.
Kinross is budgeting approximately US$60M for project activities this year.
“Since the closing of the Great Bear transaction, we have hit the ground running at the project,” said J. Paul Rollinson, Kinross’ President and CEO. “The integration of the asset into our portfolio has advanced quickly and efficiently, and we have retained many of the experienced Great Bear exploration team members based in Red Lake to maintain continuity.”
The company recently received updated assay results from 60 drill holes from late 2021 and early 2022 in the LP Fault Zone. Gold mineralization is open along strike and at depth.
Recent significant drill intersections in the LP Fault Zone
Drill hole | From(m) | To(m) | Downhole length(m) | True thickness(m) | Gold(g/t) |
| BR-481 | 461.50 | 471.75 | 10.25 | 10.1 | 15.10 |
| including | 470.60 | 471.75 | 1.15 | 1.0 | 65.83 |
| and | 531.90 | 537.10 | 5.20 | 4.9 | 21.14 |
| and | 541.50 | 549.00 | 7.50 | 5.7 | 9.79 |
| BR-482 | 289.50 | 293.20 | 3.70 | 3.6 | 11.54 |
| BR-484 | 593.50 | 602.85 | 9.35 | 9.2 | 6.11 |
| BR-485 | 593.90 | 598.00 | 4.10 | 3.9 | 9.63 |
| BR-495 | 492.55 | 500.80 | 8.25 | 8.1 | 5.03 |
| BR-503 | 18.70 | 30.10 | 11.40 | 11.2 | 10.80 |
| including | 18.70 | 22.45 | 3.75 | 3.6 | 25.72 |
| BR-508 | 22.30 | 26.85 | 4.55 | 4.4 | 13.23 |
| BR-521 | 49.95 | 92.00 | 42.05 | 40.5 | 0.78 |
Kinross is a Canadian-based senior gold mining company with projects in the United States, Brazil, Russia, Mauritania, Chile, Ghana and Canada.
Kinross (K) is up by 0.54 per cent trading at $7.38 per share as of 9:48 am EST.
