Rainy River Resources is pegging developing of an open pit mine at its gold project north of Barwick to cost over a billion dollars.The figure is contained in a feasibility study released by the company.
Pre-production costs come in at over $700 million.
Another $163-million is identified for an underground operation.
The study says as many as 400 jobs would be created during the construction phase with employment in the mines reaching at least 600.
About four-million ounces of gold and over 10-million ounces of silver have been identified with exploration to boost those numbers continuing.
The company, is hoping development on the project, currently going through the environmental assessment process, can begin late 2014.
