CA - New Gold wins permit for New Afton mine's C-Zone expansion

New Gold ( NYSE: NGD ) said late Friday that British Columbia provincial regulators approved underground development of the C-Zone at the company's New Afton mine.

The C-Zone is a continuation of the New Afton copper-gold deposit, extending along strike and down plunge from the zones being mined.

New Gold ( NGD ) completed of a new life of mine plan in March 2020 that incorporated C-Zone development to extend the New Afton mine life to 2030.

The company anticipates the start of production from the C-Zone in H2 2023.

Citing an improved outlook for the Rainy River mine, RBC Capital recently upgraded New Gold shares to Outperform .

For further details see: