Artemis Gold's Blackwater Mine expansion on track for 2026‑2028 completion

Artemis Gold reported that the Phase 1A expansion at its Blackwater Mine in central British Columbia is halfway complete, reaching 57 percent of construction milestones by the end of Q2 2026 and remaining on schedule for commissioning in the fourth quarter of 2026. The upgrade will raise the processing plant’s capacity by 33 percent, from six to eight million tonnes per year, at an estimated cost of US$120 million.

The company also announced that major works have begun on the EP2 growth project, with the first concrete pour for the ball‑mill foundations completed ahead of schedule. EP2 will expand total throughput by 250 percent to 21 Mtpa by Q4 2028, pushing annual gold output above 500,000 ounces and positioning Blackwater as one of Canada’s three largest single gold mines. The EP2 capital budget is C$1.44 billion, and Artemis has secured low‑cost renewable hydropower from BC Hydro and purchased gold‑price put options covering more than 80 percent of expected sales to hedge price risk.