New Gold identifying potential avenues to extend New Afton mine life beyond 2030
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KAMLOOPS — One year after receiving approval for a huge expansion that extended the New Afton mine life to 2030, parent company New Gold is looking even further forward.
In a news release issued Tuesday (Oct. 10), the company says it is evaluating the potential of three new underground zones, containing an estimated 418 million pounds of copper and 509,000 ounces of gold.
“With C-Zone entering the production ramp-up phase, the Company is focused on unlocking the long-term potential of the mine,” said the company in the release. “Exploration spending has increased over the past few years allowing the Company to develop a pipeline of Mineral Resources and exploration targets, underpinning a strategic outlook for mine life extension.”
New Gold goes on to say because one of the zones is located above the C-Zone, it could be serviced with some existing infrastructure, meaning minimal further capital investment.
