Detour Gold Corporation

TSX : DGC


Detour Gold Corporation

January 02, 2014 08:28 ET

Detour Gold Resumes Milling Operations at the Detour Lake Mine

TORONTO, ONTARIO--(Marketwired - Jan. 2, 2014) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") reports that the repairs to the pre-leach thickener system, including replacement of the bottom section of the torque cage were successfully completed and re-commissioning of this system has commenced. The processing plant is expected to resume operations today and is targeted to operate at a rate of 50,000 tonnes per day within a week of this restart.

During this downtime, the Company also completed a number of mill related repairs and improvements, including the installation of the second shuttle chute to the secondary crushers.

About Detour Gold

Detour Gold is an emerging mid-tier gold producer in Canada. The Company is ramping up its 100% owned Detour Lake mine to a long life, large scale open pit operation. The Detour Lake mine has proven and probable reserves of 15.6 million ounces of gold.

Forward-Looking Information This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Specifically, this press release contains forward-looking statements regarding the processing plant targeted to operate at a rate of 50,000 tonnes per day within a week of the restart. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Detour Gold's ability to predict or control and may cause Detour Gold's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration and development industry, as well as those risk factors discussed in the section entitled "Description of Business - Risk Factors" in Detour Gold's 2012 AIF and in the continuous disclosure documents filed by Detour Gold on and available on SEDAR at www.sedar.com.
Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about the following: the availability of financing for exploration and development activities; operating and capital costs; the Company's ability to attract and retain skilled staff; the mine development schedule; sensitivity to metal prices and other sensitivities; the supply and demand for, and the level and volatility of the price of, gold; timing of the receipt of regulatory and governmental approvals for development projects and other operations; the supply and availability of consumables and services; the exchange rates of the Canadian dollar to the U.S. dollar; energy and fuel costs; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; market competition; ongoing relations with employees and impacted communities and general business and economic conditions. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date hereof, or such other date or dates specified in such statements. Detour Gold undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Contact Information

  • Detour Gold Corporation
    Paul Martin
    Interim CEO
    (416) 304.0800

    Detour Gold Corporation
    Laurie Gaborit
    Director Investor Relations
    (416) 304.0581

    Detour Gold Corporation
    Royal Bank Plaza, South Tower
    200 Bay Street, Suite 2200
    Toronto, Ontario M5J 2J1