VANCOUVER (miningweekly.com) – Junior miner Rye Patch Gold has delivered 3 409 oz of gold into its hedged position at an average price of $1 275.13/oz and sold 4 804 oz of silver at $17.51/oz for gross revenue of $4.43-million.
The TSX-V-listed company also, in mid-January, received $1.2-million from its Rochester mine net smelter return (NSR) royalty for the fourth quarter.
Rye Patch subsidiary Florida Canyon Mining continues to produce and sell gold from the existing leach pads at the Standard and Florida Canyon mines, in Nevada, with the revenue from the gold sales and NSR royalty contributing to Florida Canyon restart costs.
Mining, crushing and ore placement continues at the new south heap leach facility, the company said. The expected ramp-up to 545 000 t/m is on schedule. Irrigation followed by gold production is pending approval from the Nevada regulatory agency.