Detour Gold Corporation (TSX: DGC) is a Canadian gold exploration and development company with a highly experienced management and technical team whose primary focus is to advance the development of its flagship Detour Lake gold project located in northeastern Ontario.
Detour Gold listed on the Toronto Stock Exchange on January 31, 2007 after a successful IPO. Concurrently with the IPO, Detour Gold acquired the 265 square kilometers Detour Lake property, which hosts the Detour Lake gold deposit. The deposit produced 1.8 million ounces of gold from 1983 to 1999. In less than three years, the Company has drilled over 325,000 metres of drilling and completed a pre-feasibility study.
The Detour Lake deposit is Canada's largest undeveloped gold reserve and ranks sixth among the top ten largest gold reserves in North America, with 8.8 million ounces. The positive results of the pre-feasibility study confirmed that the future Detour Lake open pit operation can be a significant gold producer with the added benefits of a long mine life within a stable political environment. The Company continues to advance the project towards completion of a feasibility study. The permitting process is currently underway to support a mid-2010 construction start, subject to securing funding to develop the project. The main construction period is estimated at 26 months followed by plant commissioning estimated to commence in the last quarter of 2012.
Corporate Profile on Stockhouse
Gerald S. Panneton
President & CEO
Gerald Panneton is a geologist with over 25 years in mineral exploration and development. Mr. Panneton has been President and Chief Executive Office of Detour Gold Corporation since its incorporation in July 2006. He was also President and CEO of Continental Minerals Corporation from January 2006 to December 2007. Since January 2008, Mr. Panneton has been focusing all his time on Detour Gold. From 1994 to 2006, Mr. Panneton was with Barrick Gold Corporation where, for the final six years, he was Director of Advanced Projects and Evaluations for the exploration and corporate development group. He was instrumental in Barrick’s acquisition of Pangea Goldfields, a Canadian company with Tanzanian assets, and played a key role in advancing the Tulawaka and Buzwagi gold projects through feasibility and permitting. Prior to Barrick, he worked for Lac Minerals, Placer Dome Exploration and Vior-Mazarin Group. Mr. Panneton received his Bachelor of Science degree in geology at University of Montreal and his Master of Science degree in geology from McGill University.