Orezone Gold Corporation has released an updated life-of-mine plan for the Casa Berardi gold mine in northwestern Quebec. The preliminary economic assessment outlines 14 years of continuous operations from 2027 to 2040, combining underground and open-pit mining and targeting 1.63 million ounces of total gold production.
The company projects average annual gold production of 116,457 ounces, annual throughput of 1.4 million tonnes and average gold recovery of 83.9%. The PEA estimates all-in sustaining costs of US$1,877 per ounce and an after-tax NPV at a 5% discount rate of US$1.046 billion under its base-case assumptions.
The plan contemplates continued operations at the West Mine from 2027 to 2038 and a restart of the East Mine from 2029 to 2038. It also schedules mining across four open pits, beginning with F134 in 2027-28, followed by the F160 expansion, Principal and WMCP pits. Orezone said further permitting will be required for the Principal and WMCP pits and associated infrastructure.
The assessment is preliminary and includes Inferred Mineral Resources, which are considered too speculative geologically to be classified as Mineral Reserves. Orezone stated there is no certainty that the PEA will be realized.
Source: Download ORE official ASX announcement, 2026-11-02.
Casa Berardi mine surface complex, from Orezone Gold Corporation's Updated Life-of-Mine Plan announcement dated October 30, 2026.