Canada's Artemis Gold Produces 69,500 Ounces of Gold in Q3

en.Wedoany.com Reported - On October 13, Canadian mining company Artemis Gold released its production data for the third quarter of 2026. Its Blackwater gold mine in British Columbia produced 69,546 ounces of gold in the quarter, up 14% year-on-year, with cumulative gold production of 205,532 ounces in the first three quarters. During the same period, the mine's Phase 1A expansion project reached 77% completion and is scheduled to enter the commissioning phase in December. Upon completion of the expansion, the existing processing plant's designed annual processing capacity will increase by 33% to 8 million tonnes.

In the third quarter, the Blackwater gold mine's processing plant processed a total of 1.48 million tonnes of ore, with an average gold grade of 1.55 g/t and a comprehensive gold recovery rate of 90%. The mine continues to carry out bottleneck elimination and equipment improvement work in the processing system, among which the contractor remediation work on the leach circuit tanks is scheduled to be completed before the commissioning of the Phase 1A expansion.

Artemis Gold maintains its full-year 2026 gold production guidance of 265,000 to 290,000 ounces. The mine achieved its first gold-silver pour in January 2025 and entered commercial production on May 1 of the same year.

The Blackwater gold mine expansion also includes the Expanded Phase 2 project (EP2). Artemis Gold commenced main construction of EP2 in August 2026 and is currently continuing to advance major construction work. Under the two-phase expansion plan, the mine's ore processing capacity will increase to more than triple the current level, and the company expects annual gold production to exceed 500,000 ounces by 2029.

Artemis Gold plans to release its full third-quarter financial and operating results on November 4, and will hold an investor conference call on the same day.