From Evolution Mining
Evolution Mining has completed a deal to acquire Battle North Gold to secure the Bateman Gold Project in the Red Lake area.
The acquisition is worth roughly $343 million.
This provides Evolution a chance to expand their footprint in the Red Lake region as the Bateman project is 10 kilometres northeast of Evolution’s Cochenour Mine.
It also creates additional value by leveraging the infrastructure of the two operations.
Evolution intends to provide further details on the long term outlook at the Red Lake Operation early in the Fall when it will provide an updated Life of Mine plan.
Executive Chair Jake Klein says, “The additional processing capacity from the new Bateman mill will accelerate our ability to achieve our objective of producing in excess of 300,000 ounces of gold per annum from Red Lake. In the 12 months that we have been operating at Red Lake we have demonstrated that we are a committed steward of the region. This expansion of our footprint will provide us with an opportunity to build on our track record as a safe and sustainable operator for the long term benefit of a broad range of stakeholders including the local workforce, regional communities and our Wabauskang and Lac Seul First
Nation Partners.”
