Burgundy Diamond Mines is likely to extend the operational life of its Misery underground mine in Canada’s Northwest Territories, according to recent updates from the company.
The Australia-based miner reported positive interim results from a drilling program that began in July. CEO Kim Truter noted that these results suggest the Misery pipe—a highly valuable ore source that requires minimal development capital—is expected to remain productive beyond the initially projected end date of 2026.
So far, six of the 32 drill holes aimed at extending the Misery Main ore body, part of the Ekati mine, have been completed. Each of these drill holes has intersected the kimberlite pipe contact sooner than anticipated, supporting Burgundy’s belief in a larger ore body at greater depths.
As a result, Burgundy now expects the Misery mine to produce much longer than previously forecasted.
The company purchased the Ekati mine, located 125 miles south of the Arctic Circle, for $136 million from Arctic Canadian Diamond Company. Arctic Canadian acquired the deposit in February 2021 after Dominion Diamonds, the previous owner, filed for insolvency.
