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Lynn Lake (MacLellan)

Asset Summary

Asset Lynn Lake (MacLellan)
Interest 2% Gross Proceeds (post capital recovery)
Commodity Gold
Location Manitoba, Canada
Stage Development
Counterparty Alamos Gold

Asset Highlights

The Lynn Lake gold project is a feasibility-stage gold project in a past-producing gold camp. It consists of five near surface deposits and has significant existing infrastructure. Its two primary deposits are MacLellan and Gordon, which were the subject of a positive feasibility study published on January 25, 2018.

The study outlined average annual production of 143,000 ounces over a 10-year mine life at mine-site all-in sustaining costs of US$745 per ounce. The Environmental Impact Study was submitted in May 2020 to satisfy federal and provincial environmental assessment requirements. According to Alamos, the permitting process is expected to take approximately two years followed by two years of construction with a construction decision planned for 2022.

The royalty covers part of the MacLellan deposit, which is forecast to produce 947,000 ounces of gold and 2,578,000 ounces of silver over the proposed 10-year mine life.

For further on the Lynn Lake project and the January 2018 Feasibility Study please refer to Alamos Gold’s website: https://www.alamosgold.com/operations/development-projects/lynn-lake-canada/default.aspx

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