Lycopodium (ASX:LYL) has been awarded an engineering, procurement and construction management (EPCM) contract valued at about A$93 million for Artemis Gold’s Expanded Phase 2 project at the Blackwater Mine in British Columbia, Canada.
The contract extends Lycopodium (ASX:LYL)’s involvement at Blackwater, where it is already providing EPCM services for Phase 1A and previously completed the feasibility study and front-end engineering and design work for the Expanded Phase 2 development.
Expansion to lift Blackwater capacity to 21 Mtpa
Expanded Phase 2 is designed to add 13 million tonnes per annum (Mtpa) of throughput capacity to the operation.
Combined with the 8 Mtpa Phase 1A project, the expansion is expected to lift Blackwater’s total throughput capacity to 21 Mtpa, which would make it one of the 3 largest gold mines in Canada once the broader multi-phase expansion program is completed.
Commercial production at Blackwater began in May 2025.
Early construction work for Expanded Phase 2 is already underway, including earthworks for the new plant site. Artemis Gold has also begun major works, with the first concrete pour for the ball mill foundations completed ahead of schedule.
Lycopodium managing director and CEO Peter De Leo said the contract would allow the company to continue its relationship with Artemis Gold as Blackwater moves through its next stage of development.
“We are very pleased to be given this opportunity to continue to work with Artemis Gold in the further development of the Blackwater Mine,” De Leo said.
He described Blackwater as a “world-class facility in a tier-one mining jurisdiction” and said the expansion represented a material project for Lycopodium’s Canadian business.
Blackwater gold and silver project
Blackwater is an open-pit truck-and-shovel gold and silver mine in central British Columbia, around 160 kilometres southwest of Prince George and 446 kilometres northeast of Vancouver.
A location map on page 2 of the company announcement places the mine southwest of Prince George and shows its connection to regional road and transmission infrastructure.
The A$93 million EPCM contract forms part of Artemis Gold’s overall Expanded Phase 2 budget.
About Lycopodium
Lycopodium provides integrated engineering, project, construction and asset management services, as well as feasibility studies and advisory services.
The company operates across the resources, rail infrastructure and industrial processes sectors and has offices across Australia, Canada, the US, South America, Africa and the Philippines.