Detour Gold Corporation fka DGC

[NYBob]

Detour Lake increases gold reserves 31%, resources 16%

With nearly a 15-million-ounce gold reserve base at its Detour Lake project, Detour Gold officials are now considering increasing annual production.

http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=119579&sn=Detail&pid=66

Author: Dorothy Kosich
Posted: Tuesday , 01 Feb 2011
RENO, NV -

Detour Gold corporation
announced a 31% increase in reserves and a 16% increase in mineral resources at its Detour Lake gold project in northeastern Ontario.

"With 14.9 million ounces [of proven and probable reserves], the Detour Lake deposit remains Canada's largest pure gold play and ranks fourth among the top ten largest gold reserves in North America," said CEO Gerald Panneton.

Detour also reported 20.5 million ounces in global measured and indicated mineral resources. Mine life has been increased from 16 years to 21 years with mill throughput ranging from 55,000 to 61,000 tpd.

Infrastructure construction at Detour Lake has already begun. Production at Detour Lake is expected to commence in early 2013. Panneton said Detour Lake "will be among the largest gold operations in North America."

Detour is initiating further economic studies to assess the potential for increasing the annual production profile once the project has reached production in early 2013.

Officials of the company have scheduled a conference call Tuesday morning to discuss the mineral resource and reserve with analysts.

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