JOHANNESBURG (miningweekly.com) – ASX-listed Troy Resources produced 6 224 oz of gold during December 2017, bringing the company’s quarterly production to 16 109 oz.
Not only was this a 17% month-on-month increase, but it was also 25%, or 3 224 oz, higher than the three months ended September and marked the highest quarterly production since the March 2016 quarter.
The increased production was a result of the company having "gained access to higher grade material from Smarts 3 and 4 ore bodies,” Troy said in a statement on Thursday.
On an annualised basis, the December production figure would see Troy produce about 75 000 oz of gold; however, an unscheduled partial mill re-line resulted in a mill closure for two days.
The ore stockpile at Karouni is now more than 125 000 t, which has the company well prepared for the rainy season. This represents more than five weeks of mill production.
Average grade of the stockpile was estimated at 1.55 g/t gold, which equates to total contained gold of 6 250 oz. About 25% of the stockpile is high-grade ore with an average grade of 3.23 g/t gold.
Mining is focused on maintaining the grade milled as high as possible and preferentially processing the high-grade stocks.
In the absence of any unscheduled mill issues and with the high-grade ore continuing to be processed, the company was expecting gold production for ensuing months to continue at these levels.
Meanwhile, Troy continued the drilling of its Spearpoint prospect located only about 350 m to the north of the Karouni plant. Drilling stopped for a short break over the Christmas/New Year period, but has now resumed.
At month’s end, eight reverse circulation drill holes out of the proposed 22-hole programme had been completed. First assay results are expected to be received during January.