The Argyle deposit has indicated resources of 543,000 tonnes grading 2.19 g/t gold for 38,300 oz.
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The transaction is expected to close in the second quarter 2019.
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The project is on track to deliver between 140,000 and 175,000 tonnes in 2019.
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Commercial production at the tin mine, which is surrounded by dense forest, deeply weathered soils and experiences high rainfall, is expected in the second half of the year.
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Scott Caldwell has agreed to stay as President and CEO of the Canadian gold miner while the search is underway.
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The Vancouver-based miner said the Nechako Au-Ag-Zn-Pb-As dispersal train is similar in size and strength to known trains from some of Canada’s largest gold deposits.
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The project has a Mineral Resource of 163 million pounds in the Indicated category and 16.7 billion pounds in the Inferred category.
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The company’s stock fell to its lowest in more than a year — likely a market reaction to the higher funding costs and dilution from the share placing.
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The results validate the company’s own internal cost-to-complete construction assessment as of Feb. 13, 2019.
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El Teniente is the world’s largest underground copper mine as well as the largest operation of the Chilean state-owned copper mining company Codelco.
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