08:24 AM EST, 11/21/2024 (MT Newswires) -- Artemis Gold ( ARGTF ) on Thursday said it is in the final stages of construction and commissioning of its Blackwater mine in British Columbia as it fed the first ore from the project into its crushing circuit.

The company expects the circuit to be commissioned and handed over to the operations team in the next few weeks.

Mining operations at the open pit are underway, while a power line to the site is fully commissioned and its tailing storage facility is readying to receive waste rock. Artemis said it expects to begin processing ore in the project's ball mill within a few weeks, with first gold from mine poured by year end.

The company acquired the project from New Gold (NGD.TO) in 2020 for $190 million and an 8% gold stream on the first 280,000 ounces of production and 4% thereafter.

Artemis shares closed down $0.08 to $13.12 Wednesday on the Toronto Stock Exchange.