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MEI Online: Commodities: Metallic Ores: Gold: Latest News: April 7th 2011

 
 

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:: Commercial Production Declared for the Randalls Gold Project

Recent gold producer Integra Mining Limited is pleased to report that the Randalls Gold Project commissioning has been completed and commercial production declared from 1 March 2011.

In the first month of commercial production in March, the operation processed 62,765 tonnes at an average grade of 4.02 g/t gold with a metallurgical recovery of 93.9% and produced 7,616 ounces of gold recovered. Total gold shipped during the month of March was 8,184 ounces.

Gold produced during the pre-production period from mid-September to the end of February was an aggregate 25,568 ounces with processing of 298,854 tonnes at an average grade of 3.13 g/t gold.

Production costs and operating profits are being calculated and details will be provided in the March Quarterly Report due in the next few weeks, however, indications are that cash costs of production will be materially below the Feasibility Study life of mine estimate of $574 per ounce.

Integra Mining Managing Director said "It has been a great achievement for Integra to have put a new discovery into production within three years from the discovery drill hole to gold production. Only a new discovery like the Salt Creek deposit can provide the profit margin that a 4 gramme head grade from open pit production gives Integra. We are very proud of the efforts of our production personnel in achieving commercial production within a relatively short 5 months and commencing commercial production with such a cracker of a month in March."

 

 

   

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