05:30 PM EDT, 10/29/2024 (MT Newswires) -- New Gold ( NGD ) after close Tuesday announced the completion of significant production milestones at the New Afton copper-gold mine in British Columbia and the Rainy River gold mine in Ontario.

C-Zone, New Afton's fourth block cave, achieved commercial production ahead of schedule with the materials handling system coming online in October and the cave footprint reaching the targeted hydraulic radius for self-cave propagation. Additionally, construction of the C-Zone cave footprint has reached the targeted 18 draw bells for hydraulic radius.

At Rainy River, first development ore was mined from Underground Main, ahead of schedule. Underground Main contains the majority of underground mineral reserves at Rainy River and will be an important source of higher-grade production in the coming years to supplement mill feed from the open pit and the Intrepid underground zone. Mining of first ore follows the completion of the main fresh air raise and in-pit portal in the third quarter.

"Today's announcement highlights delivery of critical milestones at both of our growth projects, ahead of schedule," said President and CEO Patrick Godin. "At New Afton, safely achieving commercial production at C-Zone and commissioning of the crusher and conveyor system will have a meaningful and immediate impact on costs, which will translate to ongoing and annual sustained free cash flow generation. At Rainy River, accessing first development ore from Underground Main marks a key milestone and the underground mine remains well positioned to achieve the 5,500 tonnes per day production target by 2027."