Detour Gold Provides 2016 Guidance and Updated Life-of-Mine Plan

Detour Gold Corp. (TSX:DGC) released 2016 operational and financial guidance for its Ontario-based Detour Lake mine. For the full year, the company expects to produce 540,000 to 590,000 ounces of gold. All-in sustaining costs are pegged at $840 to $940 per ounce sold.
Paul Martin, president and CEO of Detour, commented:

The Detour Lake mine is expected to have a second strong year of production growth with a further decline in costs as optimization of the operation continues. Building on the momentum of 2015, gold production is expected to increase by 12% and all-in sustaining costs to decline by 15% using the mid-point of the guidance.

The company also released a new life-of-mine plan for Detour Lake, with highlights including:

• Proven and probable open pit reserves increased to 16.4 million ounces contained gold
• Average annual gold production of approximately 655,000 ounces over LOM
• Average annual gold production of approximately 617,000 ounces in next three years
• 23-year mine life with mill throughput increasing from 56,000 to 63,000 tpd in 2019
• LOM total site costs of US$690 per ounce produced⁽¹⁾
• LOM capital costs of $1.1 billion (excluding closure costs)
• After-tax NPV5% of $3.9 billion, using long-term gold price of $1,475/oz

Click here to read more about Detour’s operational and financial guidance.
Click here to read about the life-of-mine plan.