Artemis declares commercial production at Blackwater
TSX-V-listed Artemis Gold said on Friday that it had achieved commercial production at the Blackwater mine in central British Columbia.
Over the past 30 days, the average processed through Blackwater's crushing circuit was 17 700 t/d, which is 107% of design capacity, while the milling circuit averaged 15 300 t/d, or 93% of design capacity, over the same period.
Further to this, the milling circuit has averaged 16 700 t/d, which is 102% of design capacity, for the last 14 days.
In the openpit, mining has delivered in excess of 90% of its planned tonnage, with both the 400-t and the 600-t production excavators fully deployed. Mined tonnes and grades based on grade control modelling are reconciling favourably to the resource model.
Since the commencement of milling operations at Blackwater this year, gold production has totalled about 30 000 oz. For the eight months of commercial production ending December 31, 2025, the company expects to produce 160 000 oz to 200 000 oz, at all-in sustaining costs of $670/oz to $770/oz, bringing the forecast production for the financial year 2025 to 190 000 oz to 230 000 oz.
Congratulating the Blackwater team and contractors, Artemis Gold chairperson and CEO Steven Dean said that the company completed construction in an industry leading 22 months. "The team achieved commercial production in a remarkable three months from commencement of milling operations. We will soon turn our attention to the potential acceleration of the proposed Phase 2 expansion, which is anticipated to increase Blackwater's average annual production to over 500 000 equivalent gold ounces per year, firmly establishing the mine as a Tier 1 asset in a top jurisdiction."
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