Burgundy Very Likely to Extend Life of Misery Mine
September 08, 24
(IDEX Online) - Burgundy Diamond Mines says it is very likely to extend the life of its Misery underground mine, in Canada's Northwest Territories.
The Australia-based miner says interim results from a drilling program that started in July are positive and ongoing.
"Results from our current drilling programme are indicating that the Misery pipe, which is a very high value ore source requiring almost zero development capital, is very likely to stay in production well past the original 2026 date," said CEO, Kim Truter in an update.
Six out of 32 drill holes targeting the extension of the Misery Main ore body - part of the Ekati mine - have now been completed. They have all intersected the kimberlite pipe contact earlier than modelled, confirming Burgundy's understanding of a larger ore body at depth.
Burgundy now believes production at Misery will continue much longer than previously expected.
It bought the Ekati, 125 miles south of the Arctic Circle for $136m from Arctic Canadian Diamond Company, which acquired the deposit in February 2021 after the previous owners, Dominion Diamonds, filed for insolvency.
Pic courtesy Burgundy Diamond Mines.