Eldorado Gold Provides Latest Updates on Lamaque Gold Mine Works

SEATTLE (Scrap Monster): Eldorado Gold announced that it has commenced construction of a 3 kilometre long decline at its Lamaque underground gold mine in Quebec, Canada. The $24 million construction project is expected to boost production and safety in addition to reducing energy usage.

According to company press release, the fully permitted decline will connect Sigma mill to the 405 metre level of the Triangle mine. It will eliminate around 26 kilometres round trip of the ore from the Triangle mine to the Sigma mill, thereby leading to significant cost savings and reduction in carbon emissions.

ALSO READ: Eldorado Hikes 2020 Gold Production Forecast by 35%

The company plans to start detailed engineering and site preparations this month itself. The surface construction will begin in third quarter this year. The construction of the decline is expected to be completed by the initial half of 2021. Meantime, the company will evaluate the possibility of adding an underground crushing and conveying system as part of its previously announced mine expansion plans.

George Burns, President and CEO, Eldorado stated that the company is pleased to begin construction of the decline this summer. The project promises to be another step forward towards further production growth and continued value creation at its only Canadian mine, Burns added.