en.Wedoany.com Reported - Pan American Silver has approved an investment of approximately $146 million to advance the first phase of expansion at its Timmins gold mine operations in Ontario, Canada. The plan aims to enhance operational continuity, expand access to mineral resources, and improve utilization of existing capacity at the Bell Creek mill complex.
Key project components include extending the Bell Creek shaft by 625 meters, conducting 814 meters of underground development to access the Vogel deposit, and constructing a 1.3-kilometer exploration drift to the Samson deposit. Pan American Silver stated that this initial expenditure has been incorporated into its 2026 capital guidance, with the Timmins project budget set at $40 million to $43 million.
The primary operational component involves deepening the Bell Creek shaft from 1,080 meters to 1,705 meters below surface. Site construction is expected to begin in July 2026, with project commissioning anticipated in the first half of 2029. Exploration results have identified gold mineralization at depths of nearly 2,600 meters below surface, supporting the mine's potential for extended operational life.
The Timmins regional operations consist of two underground mines—Timmins West and Bell Creek—located approximately 34 kilometers apart. Both mines feed ore to the Bell Creek mill, which has a design capacity of nearly 5,600 tonnes per day and currently processes approximately 4,400 tonnes per day.
The Vogel deposit contains approximately 61,000 ounces of indicated gold resources and 135,000 ounces of inferred gold resources. The Samson deposit holds approximately 118,000 ounces of inferred gold resources. Additionally, the Gold River deposit, located in the same mining district, contains approximately 117,000 ounces of indicated gold resources and 1.03 million ounces of inferred gold resources, further enhancing Timmins' geological potential as a growth platform.
Pan American Silver plans to conduct approximately 118,000 meters of drilling at Timmins in 2026, with a primary focus on near-mine exploration and resource conversion. The company expects to release updated reserve and resource reports for Timmins, Vogel, and Gold River in the third quarter of 2026.
This investment reflects the gold mining industry's trend of extending existing operational life through near-mine exploration, infrastructure optimization, and satellite deposit development. At Timmins, Pan American Silver aims to leverage existing infrastructure to improve complex utilization and sustain long-term production. The company stated that projects such as the Bell Creek shaft deepening and access development to Vogel and Samson could position Timmins as a long-life gold production hub in Canada. Pan American Silver is one of the leading silver and gold producers in the Americas, with operations spanning Canada, Mexico, Peru, Brazil, Bolivia, Chile, and Argentina.
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