McEwen anticipates first gold from Nevada mine by end-Feb
NYSE- and TSX-listed precious metals miner McEwen Mining on Tuesday reported that construction of its Gold Bar mine, in Nevada’s Battle Mountain-Cortez trend, was nearing completion.
The mine is on schedule for first gold production later this month. Commercial production will follow when the mine’s systems reach a steady state, which is expected by the end of the first quarter.
McEwen said the mine’s construction was on budget with its capital cost estimate of $81.4-million.
Since commissioning in December, the company has placed 150 000 t of ore on a heap leach pad, to dissolve by a cyanide solution.
“We estimate that the Gold Bar mine will produce 55 000 oz of gold in 2019, at an all-in sustaining cost of about $975/oz.
“December and January were challenging months on site, with heavy snow and cold temperatures delaying some work. Remaining activities to complete the process plant include electrical work, instrumentation installation and commissioning of a gold refinery circuit,” the company stated.
Meanwhile, exploration drilling done during 2018 has extended the mine life to 7.4 years. The future addition of the Gold Bar South resource to the mine plan should further extend the mine life by at least one year.
The company has set a 2019 exploration budget of $4.4-million, targeting both near-surface and deep Carlin-type mineralisation.
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