JOHANNESBURG (miningweekly.com) – Western Australia-focused Intermin on Tuesday reported strong December-quarter operational performance for its 100% owned Teal gold mine, near Kalgoorlie-Boulder.
The first toll milling campaign at the one-million-tonne Lakewood toll milling facility has been successfully completed and the mine is safely and efficiently moving to completion in the March quarter.
“Teal has been a great success to date and has placed the company in a strong financial position to aggressively pursue our new discovery and resource growth strategy utilising our increasing cash reserves,” MD Jon Price said.
To date, ore mining from Teal stages 1 and 2 reached about 185 000 t of oxide and transitional ore grading 3.25 g/t of gold for 19 330 oz mined, with third party processing totalling 155 000 dry tonnes grading 3.26 g/t of gold and metallurgical recovery of 94.6% for gold production of 15 500 fine ounces to date.
Reconciled production from the first milling campaign totalled 4 550 fine ounces of gold from the treatment of 40 500 dry tonnes of ore grading 3.64 g/t gold.
Mining of the remaining ore in the pit, about 30 000 t grading 3.2 g/t of gold, is expected to be completed in February.
The second milling campaign started on January 19 and will treat about 30 000 t of ore grading 3.2 g/t gold over a 15-day period.
The third and final campaign is scheduled to start on February 21, enabling full reconciliations and final cash flows from Teal early in the June quarter.
Intermin maintained its guidance for both Teal stages 1 and 2 of between 18 000 oz and 20 000 oz at all-in costs of A$1 000/oz to $1 100/oz.