In September 2020, Contango and Kinross fashioned the Peak Gold three way partnership geared toward creating the namesake deposit (later renamed Manh Choh) positioned on high of a gaggle of low hills within the northern a part of the Tetlin lease.
The JV — led by Kinross as operator — subsequently accomplished the work resulting in a feasibility research in 2022, adopted by its profitable allowing for the mission and building of the mine.
Mining operations commenced in August of 2023 and ore hauling began in November 2023, resulting in a sizeable stockpile of ore at Kinross’ Fort Knox services able to be processed by the mill.
As outlined on the JV’s web site, the 2 small open pits comprising Manh Choh are estimated to be mined concurrently for about 4 to five years, producing about 225,000 ounces of gold a yr.
Primarily based on over 55,000 metres of drilling so far, the deposit at the moment has an outlined useful resource of 9.2 million tonnes within the measured and indicated class averaging 4.1 g/t gold and 14 g/t silver, for 1.2 million oz. of contained gold and 4.2 million oz. contained silver.