Thank you very much. Hopefully, this will come up here soon. There we go. All right. First of all, thank you for the Mining Forum Americas for this opportunity to speak again, forward-looking statements. Orezone over the past year has really transformed. We have now a multi-mine operation in two jurisdictions. This year we will produce between 230,000- 240,000 ounces from the two operations, and we expect to continue to grow that production over the years. Our main mine is in Burkina Faso.
We are now in the hard rock two operations there, and we have just taken over the Casa Berardi mine in Quebec at the end of Q1 of this year. A little bit about the Bomboré Gold Mine. 2.4 million ounces to an average depth of 37 m. Resources, 5 million ounces down to approximately 75 m. Quite shallow, low strip ratio, simple operation. This year, as I said, we will do approximately 160,000- 180,000 ounces at all-in sustaining costs, including royalties of around CAD 600 for between CAD 2,100 and CAD 2,300.
I expect we will be in the lower end of that cost guidance this year. Shallow open pit operation. We are now targeting some higher-grade zones beneath the pits, quite successful, so look out for more results later this year in that regard. We have also added 100,000 m of drilling. We will be coming out with a new resource reserve life of mine plan at the end of Q1 2027. Casa Berardi was our major acquisition. It is in the western border of Quebec, Ontario. It has been going for 30+ years. Great jurisdiction, highly skilled workforce.
Produced over 3.2 million ounces over 30 years and another 3 million ounces of resources still remaining. We also own 37 km of the Casa Berardi fault, a highly prospective region. We also acquired in that package, Heva-Hosco, which is on the Cadillac-Larder Lake Break. Fabulous address to own a project, and we will be coming out with a PEA on that in about a month's time. I will walk you through that later on in the presentation. We just released the Casa Berardi life of mine. We acquired it in March of this year.
We had the team on site working with a group of consultants. Really had the team actively involved in this. The life of mine shows 14 years of mine life continuous, open pit, and underground. Approximate production of 116,000 ounces a year over that life of mine average at all-in sustaining costs of just under CAD 1,900. NAV at consensus, just over CAD 1 billion at spot over almost CAD 1.5 billion. We will be doing a lot of drilling. We have already started. We will probably do about 70,000 m this year, and next year, the target is over 100,000 m on the project. A couple of key things about the life of mine study.
You can see the gap between cash and all-in sustaining costs at the front end. That is really us putting the investment back in, ramping up the development, ramping up the equipment, etc . What we really want to do is use that investment to ramp up that production, and we fully expect that we will backfill that production in as we go ahead over the coming years. Our target is to keep this at over 150,000 ounces a year for the remainder of production beyond 2033. A little bit about the history. It is difficult to find mines up in this area.
You have 30 m- 70 m of till cover. It was discovered in the 1980s, put into production, and ramped up by TVX. They ran for a number of years at around 100,000 from the east only. They then had a chimney failure where they went into the crown pillar. Gold was CAD 260. They sold it to a company called Orezone. Orezone developed the west. It was discovered by Inco TVX, ramped it up to over 160,000 ounces a year, came under a hostile bid by Alamos, and then subsequently acquired by Hecla.
As you can see, the underground production started to really decrease, and the open pit came into groove, though that was really where Hecla were at the time. Silver was low. They had other acquisitions that they bought. This became sort of a, not an orphaned asset, but an asset that was not getting a lot of capital attention, and that is really where we come in. This really tells the story of what happened. This is the 2013 National Instrument 43-101 of Orezone when they were getting acquired. Inco TVX were here in the east.
They were mining to the mill right here. They had discovered the west. Orezone drilled it off, sunk the shaft, were mining there, had discovered the Principal Zone, had not yet mined in it. Since then, really Hecla was harvesting the underground and really out of this small little bit. So it is very underexplored. They mined this pit here and the 160, and we will continue to mine the 160 and open up the 134. But really, all of the exploration below here in this Abitibi region is still wide open, so we will actively be exploring these zones.
An underground mine, my background is underground mining. You really have to be ahead in development. You have to be ahead in development for your mine planning, and you have to be ahead in your development for your exploration. You have to keep in front of yourself, particularly when you are mining right along a fault. If you do not push out and away from it, you cannot drill back and keep following it down.
As you can see here, the exploration drilling in those years that Hecla were really focusing on the open pits went really down to zero, and the development went from 30 m down to 5 m. We will ramp both of those up. Right now, we are at 17 m a day. Our target was to be at 16 m a day by the end of the year. We are at 17 m. I hope we can hit 20 m a day. We have bought several pieces of new equipment. We have been hiring actively in the region. We brought on a contractor to assist with that, and that will be the lifeblood of this operation.
A couple of things about our life of mine study. We did it at the throughput rate nameplate of the mill. We have already made changes to that mill. We have had it up to a daily rate of 4,700. We fully expect to be running at 4,400. We have made some adjustments to how the mill has been running, etc . We are going to do open pit grade control. So right now it is mined off at 25 m centers. We will be doing grade control on the rest of those pits. We are going to do metallurgical test work.
We are going to be setting up a lab on the project, and we will also be bringing full computer control to the mill system. We see a lot of upside on the base study alone without exploration. Truly, one of the key things when I look at a mine is how many tons per vertical meter, how many ounces per vertical meter do you have? This is what I am truly saying, a world-class underground mine. If you look at 4 g and above, which is here, this is what this mine is all laid out at. There is almost 7,000 ounces per vertical meter here, and that is why you had a 4,000-ton a day mill.
You could fill it with underground provided you keep developing it. These red zones are all plus 9 g. They were mined out, but we will continue to explore those. We will continue to explore this gap. We see that as somewhat low-hanging fruit because we have got underground development there. We have got a ramp right here. We will continue to explore these zones beneath the pits. We released some drill results on May 19th, which showed what that could be like, and expect to see more of that in the coming weeks.
One other key thing that we noticed when we were doing this work was this is the Casa Berardi Fault . It is not actually an active fault. It is quite sandy. It is not clay gougy material. It goes from maybe 6 inches up to a couple of meters. The mining process through it, they go transverse through it, very safe. Then you go long hole on the other side. You will notice that all of the underground material is on the south of the fault. If you look on plan view, the open pit zones are in the north of the fault, and they have just been drilled down to open pit depth.
The north is wide open. We are now drilling at the 800 m level down there. There was some previous historic results that really attracted us to it. We are drilling through the fault. We expect to release results on that in the coming weeks. Then we put a drift in there and drill that whole zone, as you can see, wide open. All of these zones on the north are completely wide open. The region itself is obviously a phenomenal place, the Abitibi, to find mines. As you can see here, the cover, where it is zero to 5 m, this is where all the mines are discovered.
We own 37 km of this belt. Detour, when I was at Placer Dome doing some work, we shut that down and sold it. It is now going to do 1 million ounces a year. I will not tell you what we sold it for. If you look at the region itself, here you have the Val-d'Or, 14 mines on 70 km of strike. Kirkland Lake, 37 km of strike, 6 mines. Timmins West Mine, 15 mines under 54 km, 47 km, 6 mines. We have one mine on a major structure, and it is simply because it has not been explored. It is difficult. There is 30 m- 50 m of till, but those techniques have really improved in terms of the sort of gold grain counts, sonic drilling.
Geophysics has improved significantly. We have just hired a regional exploration manager. He will be putting all this data together, and his task will be to completely focus on this region outside of the Casa mine. You can see here, this is the Casa mine here. There has been some exploration. You can see some of the drill results that we have had or has been had. We will now do a complete regional program here over the winter months, and expect to see something coming out of that here in Q2 of next year.
The low-hanging fruit in that regard, we are in the Abitibi. Our neighbors, as you can see, are all down here at 2.5 km-3.5 km. We are on average depth of 700 m, so just going deeper. We think the gold came from below, not above. We think there is something down there. We are going to actively explore that as well. We also acquired a project called Heva-Hosco. The previous owners, Orezone, before Hecla acquired them, they did a feasibility study in 2012 at $1,350 gold, 14-year mine life, 104,000 ounces a year of production.
You can see the comps out there. We are right on the Cadillac-Larder Lake Break, where our neighbors are IAMGOLD, Agnico, Agnico, Eldorado, and Wesdome. We are in a hell of an address. One pit was drilled and put into the study. The other pit was still in inferred. We will actively drill that. There will be a new PEA coming out in October. We have just completed metallurgical test work that has been extremely successful, very pleased with that. We will come out with the same size mill, 3 million tons per annum, and that will be out in October.
We expect that we will see some value coming into the story from that. We will actively go into feasibility study. We are mine builders. We have got a great track record of that. We built the oxide mill in Burkina for CAD 148 million. It was CAD 3 million under budget, 5.2 million nameplate, we are running at 7. We just finished the hard rock last year, our team. We built it for about CAD 4 million-CAD 5 million under budget, 2.5 million ton per annum. We are now running nameplate 3 within a year of starting a hard rock mill. We are pretty good at what we do.
We will bring that team over, we will get this feasibility study underway, and we will actively run this into a construction decision, hopefully by end of 2027 into early 2028. We still think there is a lot of value to come into the stock. People are valuing us really still at the Burkina Faso sort of 0.3, 0.4 discount. If you bring in Heva-Hosco , we are probably trading at 0.25. We bring out money out of Burkina. We took out CAD 50 million this year. We have just been approved by the government to take out another CAD 110 million.
We will start taking that out in Q4. 2028 should be about CAD 240 million to our account after all the government taxes and free carried is paid. And we will actively start buying our stock back. If people don't want to give me any value for that asset at 0.4, I'll use my CAD 1 coming out of Burkina and buy my 0.4 NAV asset. It's pretty easy math for me. We don't need the cash to do anything with. At the end of Q2, we had CAD 118 of cash, and our debt right now at the end of the year will be about CAD 45 million, and it's ring-fenced around Bomboré.
It will be finished paid off by Q3 of next year. At the end of Q3 next year, we will be zero senior debt. That's the Orezone story. A lot of news flow coming forward. Looking forward to doing that. We've hired a new COO, VP of Exploration, VP IR, a regional exploration manager, VP corporate social. We're gearing up to become a mid-tier. Thank you.
Patrick, thank you very much. Any questions from the audience? Just.
All right.
Happy with that? I mean, maybe a quick one from me.
Sure.
It sounds like you've got enough on your plate right now in terms of the sort of growth in Canada, but are you looking at other assets as well, or are you just going to focus on what you've got in the portfolio?
Yes, we will continue to look to grow. We'll obviously do that in a way that we feel we can manage it and something that we can build. One thing we don't want to do is blow up the capital structure. We want to look at something that we feel comfortable building. We will still look in West Africa. We've got a great team there to build, but likely outside of Burkina. But obviously, we'll continue to look in Canada as well. Difficult to find, but yeah, we'll be actively looking for things.
Great. Okay.
Okay. Thank you.
Thank you very much, Patrick. Cheers.