Construction of Blackwater Mine project 45% complete

PRINCE GEORGE — Artemis Gold Inc. has provided a third quarter update into construction progress at the Blackwater Mine.

At the end of September, overall construction of the mine was estimated to be 45% complete. Approximately $280 million of the guided initial capital expenditure of $730 to $750 million had been spent. Artemis Gold Chairman and CEO Steven Dean says that workforce and construction activity at Blackwater has returned to 100% following wildfire events in the summer.

The company’s staffing numbers at the Blackwater Mine surpassed 250 employees in Q3, with over 50 percent of the development team from the local region and over 80 percent are B.C. residents. The total workforce at the Blackwater Mine, including staff and contractors, was more than 500 at the end of September.

Artemis Gold Inc. says that the project remains fully funded and they remain on track to have the first gold pour in the second half of 2024.