Artemis Gold’s Phase 1A expansion at the Blackwater mine is 57% complete, with commissioning scheduled for the fourth quarter of 2026. The company has revised the capital cost for the project to $120 million, following a scope expansion that now includes additional equipment spares.

The project is designed to upgrade the processing plant and increase nameplate capacity by 33%, moving from 6 million tonnes per annum (Mtpa) to 8 Mtpa. Major infrastructure work is advancing, with civil foundation work for the new 3.5 MW vertical grinding mill (Vertimill) finished, structural steel erection well underway, and components arriving on-site. The fabrication of the new cyclone cluster is complete and currently in transit, while the installation of new leaching and pre-aeration tanks is progressing.

“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.”

— Dale Andres, CEO

Artemis is currently updating the resource model and mine plan for both Phase 1A and the proposed Phase 2 expansion. This technical work, expected to conclude in 2026, will integrate new drilling results and refined cut-off grade strategies. The company intends to release production and cost guidance for 2027 in the first quarter of 2027.

Read the full announcement: Artemis Gold Provides Update on Phase 1A Expansion