PERTH (miningweekly.com) – Gold miner Saracen on Wednesday said that it was on track to achieve record full-year production of between 125 000 oz and 135 000 oz, after a record quarterly production of 36 430 oz.
“Our Carouse Dam operations have recorded consecutive production records, with 32 038 oz in the December quarter being eclipsed by 36 430 oz in this March quarter,” said Saracen MD Raleigh Finlayson.
“The most pleasing aspect of our latest production record is that it was achieved with only 14% of ounces being contributed from the Red October underground mine, versus 27% in the previous quarter, as the mine focused on development work in the Central lode.”
Finlayson noted that this work highlighted the contribution being made from the openpit operations, particularly the Deep South operation.
Openpit mining expenditure was set to reduce dramatically over the next two quarters, Saracen said, with the reduction of half the mining fleet, following the completion of the Deep South and Karari openpits.
Meanwhile, Finlayson also noted that the major capital works at the Red October underground mine, to establish the primary ventilation network and access to the Central lode, was also largely completed, with the company’s focus now reverting to ore production on multiple stoping horizons.
“We are ahead of our revised production guidance, which we increased to 125 000 oz to 135 000 oz in December, on the back of a strong start to the calendar year, which is set to continue.”