The Goose Mine is the Canadian firm’s first mine on the 80km-long Back River Gold District. Credit: Sabina Gold & Silver Corp.

Canadian precious metals company Sabina Gold & Silver has announced its decision to build the C$610m ($463m) Goose gold mine in Nunavut, Canada.

Located in Sabina Gold & Silver’s 100% owned district scale, advanced, high-grade Back River Gold District in Nunavut, the Goose mine is planned to start production in 2025.

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Sabina has already completed pre-development activities at the mine and plans to start full construction work at the site in 2023.

According to the updated feasibility study, the mine is expected to produce 223,000oz of gold annually for 15 years.

During the first five years, the mine anticipated to produce an annual average of 287,000oz with peak production of 312,000oz in year three.

Upon securing more than C$800m in funding package earlier this year, the firm completed significant procurement, engineering and civil work at both the Goose site and the Port facility.

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Sabina Gold & Silver president and CEO Bruce McLeod said: “We are excited to formally commit to becoming a significant Canadian gold producer. In the meantime, we have been steadily advancing the project to be in a position to commence full construction in early 2023 with first production expected in Q1, 2025.

“Additionally, we are fortunate that our strategy of pre-planning and accelerating procurement efforts has reduced our exposure to inflationary impacts and supply chain issues, and we are sufficiently funded for construction.”

Sabina selected FLSmidth to supply the key process equipment for the Goose Mine, which is the former’s first mine on the 80km-long Back River Gold District.