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Artemis Gold Announces Expanded Phase 2 Development at Blackwater Mine
Artemis Gold Inc. (TSXV: ARTG) ("Artemis Gold" or the "Company") announces board approval for an expanded Phase 2 ("EP2") development of the Blackwater Mine ...
About this update from Artemis Gold Inc
[{"type":"text","content":"TSXV: ARTG","length":10,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"Capital-efficient, $1.44 billion expanded Phase 2 ("EP2") development of processing capacity to 21 Mtpa expected to be funded from operating cash flow","length":160,"tagName":"p"}]},{"val":[{"type":"text","content":"Over 500,000 ounces of annual gold production expected for first 10 full years, transforming Blackwater into one of the three largest single gold mines in Canada","length":161,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":321,"olType":false},{"type":"text","content":"(all amounts in Canadian dollars unless otherwise stated)","length":57,"tagName":"p","attribs":{}},{"type":"text","content":"VANCOUVER, BC, Dec. 15, 2025 /CNW/ - Artemis Gold Inc. (TSXV: ARTG) ("Artemis Gold" or the "Company") announces board approval for an expanded Phase 2 ("EP2") development of the Blackwater Mine located in central British Columbia. EP2 represents a significant addition to processing plant capacity from the previously announced Phase 1A project, which is currently in construction, growing from an expected 8 million tonnes per annum ("Mtpa") before the end of 2026 to 21 Mtpa before the end of 2028. Once EP2 is in production, the Blackwater Mine is expected to produce an average of 500,000 to 525,000 ounces of gold for the first 10 full years. The EP2 investment decision is conditional upon receipt of formal confirmation of adequate hydro-electricity supply from BC Hydro, expected in early 2026.","length":842,"tagName":"p"},{"type":"text","content":"The Company estimates that EP2 will be completed at a capital cost of $1.44 billion which compares favourably with prior expansion study estimates and industry benchmarks on a per tonne of throughput capacity basis (EP2 capital intensity $110 per tonne of additional annual throughput). EP2 is expected to be funded primarily from operating cash flows and is supported by the Company's strengthened balance sheet which provides financial flexibility to fund growth.","length":469,"tagName":"p"},{"type":"text","content":"The EP2 project is consistent with the staged development strategy and plan for the Blackwater Mine as contemplated in the current technical report entitled "Blackwater Gold Mine, British Colu...