Commodities
Artemis Gold Provides Update on Phase 1A Expansion
Artemis Gold Inc. (TSXV: ARTG) ("Artemis Gold" or the "Company") is pleased to provide an update on construction progress of the Phase 1A expansion project at the Blackwater Mine in central British Columbia.
About this update from Artemis Gold Inc
TSXV: ARTG • Phase 1A now 57% complete; on schedule for commissioning in Q4 2026 VANCOUVER, BC, Aug. 4, 2026 /CNW/ -- Artemis Gold Inc. (TSXV: ARTG) ("Artemis Gold" or the "Company") is pleased to provide an update on construction progress of the Phase 1A expansion project at the Blackwater Mine in central British Columbia. The Phase 1A expansion was announced in Q3 2025 and represents a capital efficient, step change opportunity to upgrade the current Blackwater processing plant, increasing nameplate capacity by 33% from 6 Mtpa to 8 Mtpa. At the end of Q2 2026, Phase 1A was 57% complete, and is on schedule for commissioning during Q4 2026. Artemis Gold CEO Dale Andres commented: "We are very pleased with the progress being made on the Phase 1A expansion project that will add materially to our production in 2027. Phase 1A has been implemented rapidly, and the benefits from this project will be delivered in just a few months, supplementing cash flows." Phase 1A Scope and Progress Phase 1A enhancements include: The Phase 1A project is on schedule and the following construction milestones have been achieved: After finalizing the scope, including adding additional spares, Phase 1A is now expected to be completed at a capital cost of $120 million, representing an industry-low capital intensity of $60 per additional annual tonne of processing capacity, with clear potential for further optimization above 8 Mtpa. Updates to the resource model and optimization of the mine plan for both the Phase 1A and EP2 expansions are being undertaken in 2026. The updates will incorporate new resource expansion drill results, a review of cut-off grade strategies, and an assessment of additional low- and medium-grade ore that is being identified through grade control drilling. Annual production and cost guidance for 2027 will be provided in early Q1 2027 after this work is completed. A significant increase in production is expected with the 33% increase in mill throughput with the Phase 1A expansion. Grades are expected to remain well above reserve grade for 2027 and 2028 until EP2 is commissioned. Phase 1A Construction Photos About Artemis Gold Artemis Gold is a well-financed, growth-oriented gold and silver producer and development company with a strong financial capacity aimed at creating shareholder value through the identification, acquisition, and development of...