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TORONTO (miningweekly.com) – Amex- and TSX-listed Capital Gold produced 12 496 oz of gold in the three months ended January 31 - its fiscal second quarter – from the El Chanate mine, in Mexico.
Importantly, monthly output rose from 3 429 oz in November to 5 236 oz in January, noted president and COO John Brownlie.
“The installation of an additional crushing plant earlier this year has increased crushed ore production to the leach pads that, in turn, has resulted in a considerable increase in gold production for January," he said.
With the recent improvements made at the mine, Capital Gold expects output to continue at the rates achieved in January.
"As is typical with all heap leaching processing, it takes time to reach equilibrium of gold placed on the leach pad and actual gold produced,” Brownlie said.
“January's results show that we are nearing equilibrium and can expect to maintain and improve upon these higher production numbers."
Shares in Capital Gold rose 3,4% on Monday to C$3,66 apiece by 15:03 in Toronto.
