Silver Lake reports record quarter
PERTH (miningweekly.com) – Gold miner Silver Lake Resources has reported record first-quarter production, as both the Mount Monger and Murchison mines in Western Australia increased output.
Ore mined for the quarter ended September reached 657 704 t, a 28% increase on the previous quarter, resulting in gold-in-ore production of 56 632 oz, compared with 55 600 oz produced in the June quarter.
Ore milled for the quarter reached 821 206 t, at a grade of 2.4 g/t, for 59 902 oz of recovered gold, up by 8% on the previous quarter.
Silver Lake reported that production at Mount Monger increased by 20% quarter-on-quarter, to 40 691 oz of gold, while production at Murchison was up by 50% quarter-on-quarter, to 15 941 oz.
During the three months under review, Silver Lake sold 60 910 oz of gold, at an average realised price of A$1 450/oz, to report revenues of A$88.3-million.
The miner’s production outlook for the full year to the end of June remains unchanged at between 180 000 oz and 200 000 oz, with Mount Monger expected to deliver between 120 000 oz and 130 000 oz.
The Murchison mine would deliver between 60 000 oz and 70 000 oz during the full year.
Small quantities of ore would also be mined at the Cock-eyed Bob deposit, which was being mined to obtain further geological knowledge of banded iron formation deposits in the region.
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