09:55 AM EDT, 07/26/2018 (MT Newswires) -- Detour Gold (DGC.TO) reported Q2 net earnings of $8.8 million, or $0.05 per basic share. This compares to net earnings of $24.4 million, or $0.14 per basic share for Q2 2017.

Adjusted net earnings in the second quarter amounted to $21.3 million, or $0.12 per basic share, versus adjusted net earnings of $16.3 million, or $0.09 per adjusted basic share for the previous corresponding quarter.

Revenues for the second quarter were $191.8 million on the sale of 146,856 ounces of gold at an average realized price of $1,305 per ounce. This compares to revenues of $180.1 million on the sale of 142,970 ounces of gold at an average realized price of $1,257 per ounce.

Detour said exploration activities continued in Q2 2018 on the Detour Lake Property with 5,610 metres completed in 17 holes, for a total of 10,346 metres in 31 drill holes in the first half of 2018. The drilling focused on testing targets northeast and west of Zone 58N, within the West Detour project and east of the tailings facility. The company also released an initial mineral resource for Zone 58N this morning -- the mineral resource estimate is comprised of an Indicated resource of 2.87 million tonnes grading 5.80 g/t for 534,300 ounces of gold and an Inferred resource of 0.97 million tonnes grading 4.35 g/t for 136,100 ounces of gold.

Detour Gold's guidance for 2018 remains unchanged from its guidance of April 26, 2018.

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