TORONTO (miningweekly.com) – Allied Nevada Gold, which owns the Hycroft mine, in Humboldt County, Nevada, produced the first 1 000 oz of gold and 3 000 oz of silver from the mine last month, the company reported on Tuesday.

Allied Nevada expects to ramp up to a production rate of around 90 000 oz by July, said CEO Scott Caldwell.

"We are pleased to have attained our goal of initial gold production on schedule...I'd like to thank the employees of the Hycroft mine for their dedication and efforts to achieve this milestone,” he added in a statement.

The company expects to produce about 647 000 oz of gold from Hycroft, over a seven-year life.

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