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Detour Gold gets green light for Detour Lake gold mine power line

The Ontario gold mine developer has been given the go-ahead for construction of a 185 km long key power line to the project.

Posted: Friday , 17 Dec 2010

Reuters - - 

Detour Gold gets green light for Detour Lake gold mine power line

The Ontario gold mine developer has been given the go-ahead for construction of a 185 km long key power line to the project.

Reuters -

Detour Gold Corp (DGC.TO) said on Friday it got provincial approval and green light for constructing a transmission line for its Detour Lake project in northeastern Ontario.

The Toronto-based gold explorer said construction is scheduled to start in early January 2011.

The approval from the Ontario Ministry of Environment allows Detour Gold to start constructing the 185-kilometer transmission line required for the Detour Lake mining facilities.

The first segment will be 135 km from the project site to Island Falls power station.

The 45-km second segment will run from Island Falls to the Pinard transformer station, and work on it will start in late 2011.

The Detour Lake deposit is Canada's largest pure gold play with reserves of 11.4 million ounces, according to the company's website.

Detour Gold shares, which have gained two-thirds of their value so far this year, closed at C$29.10 on Thursday on the Toronto Stock Exchange.

(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Roshni Menon)

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