Recent Developments

Recent Developments (Updated April 1, 2016)

Q4 & 2015 Full Year Summary

Detour Gold reported fourth quarter and full year 2015 operating results on January 14, 2016. 

View the related press release:
16 01 14 - Detour Gold Delivers on 2015 Guidance


2015 Fourth Quarter and Full Year Operational Results

  • Record gold production of 146,417 ounces in the fourth quarter as a result of improved grades, bringing total gold production to 505,558 ounces for the year, representing an increase of 11% year-over-year.
  • The mill facility processed 5.2 million tonnes (Mt) of ore or an average of 56,015 tonnes per day (tpd). Although the mill reached record milling rates of 2,750 tpoh during the quarter, mill operating time was at 85% due to unscheduled downtime to replace the SAG mill pulp lifters and the 410-conveyor belt. Both were expected to last to the fourth quarter planned shutdown.
  • Mill operating time for the fourth quarter was at 86%, in line with projections with a planned shutdown in November to replace SAG and ball mill liners on both lines and replace a damaged ball mill trunnion. For the year, mill operating time averaged 84%, slightly below budget of 86%. Higher milling rates (2,680 tpoh) compensated for lower plant operating time.
  • A total of 22 Mt (ore and waste) was mined during the fourth quarter (equivalent to mining rates of 239,000 tpd for Phase 1 and 2). For the year, a total of 90.7 Mt was mined (including 7.1 Mt for Phase 2 pre-stripping), an increase of 18% over 2014.
  • At the end of December, the run-of-mine ore stockpiles totaled 4.8 Mt grading 0.68 g/t (equivalent to 100,000 ounces of gold).

Detour Lake Mine Operation Statistics:

Q1 2015 Q2 2015 Q3 2015 Q4 2015 2015 2014 
Ore mined (Mt) 3.8 6.4 6.5 6.3 23.0 16.3
Waste mined (Mt) 16.0 19.1 17.0 15.7 67.7 60.5
Total mined (Mt)2 19.8 25.5 23.5 22.0 90.7 76.8
Strip ratio (waste:ore) 4.2 3.0 2.6 2.5 2.9 3.7
Mining rate (tpd)2 220, 000 280,000 255,000 239,000 249,000 210,000
Ore milled (Mt) 4.4 5.2 5.2 5.1 19.8  17.7
Head grade (g/t Au) 0.86 0.82 0.86 0.98 0.88 0.88
Recovery (%) 91 91 90 91 91 91
Mill throughput (tpd) 47,797 57,015 56,015 55,522 54,114 48,563
Mill availability (%) 7888 85 86 84 81
Ounces produced1(oz) 105,572 125,348 128,222 146,417 505,558 456,634
Ounces sold (oz) 104,497 123,296 126,241 132,209 486,243 423,013

Note: Mill availability is defined as mill operating time. Totals may not add up due to rounding. 

2016 Guidance

The Company’s guidance for 2016 is as follows:

Gold production (oz) 540,000-590,000
Total cash costs ($/oz sold)1 $675-$750
All-in sustaining costs ($/oz sold)1 $840-$940
1 Refer to the section on Non-IFRS Performance Measures at bottom of page.

Technical Information
The scientific and technical content of this news release has been reviewed, verified and approved by Drew Anwyll, P.Eng., Senior Vice President Technical Services, a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.

Non-IFRS Financial Performance Measures
The Company has included non-IFRS measures in this website page. The Company believes that this measure, in addition to conventional measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. Refer to the Company's MD&A for the relevant periods for further details.

NI 43-101 Disclosure:
On January 25, 2016, Detour Gold announced an updated mine production plan for the Detour Lake project. The NI 43-101 compliant Technical Report for this update was filed on SEDAR on January 25, 2016. The report was prepared by the Detour Gold Technical Services Department, led by Drew Anwyll, Senior Vice President Technical Services, a Qualified Person (QP) under National Instrument 43-101.