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The Porcupine operation is located in Timmins, Ontario, one of the world's great gold producing camps. In 2015, Porcupine marked its 105th year of continuous mine and mill operations and has produced more than 67 million ounces of gold since production began. For 2015, gold production totaled 274,300 ounces. Production during 2016 is expected to be between 250,000 and 275,000 ounces.
The focus at Porcupine in 2016 is on asset optimization and cost reduction efforts. Current market conditions and operational challenges associated with aging infrastructure has led to the permanent closure of the Dome underground mine effective in mid-2016. Mining operations at the Hollinger open pit, Hoyle Pond underground mine and processing plant will be optimized in order to sustain lower-cost, profitable production.
A key target of 2016 drilling is on the extensions of the S vein and of the newly-discovered XMS Vein near the 1600-meter level at Hoyle Pond.
* Due to rounding, numbers may not add up.