Pure Gold Mining Inc is on track to start commercial production at its Red Lake
Since pouring first gold in December 2020, commissioning activities at the PureGold Mine have transitioned to full scale ramp-up of the mining and milling operations, the company said in an update
Pure Gold Mining Inc () () () (FRA:L11A) said Wednesday that it anticipates declaring commercial production at the PureGold Mine in the second quarter of 2021.
The gold company updated shareholders on a host of developments related to its production target, including mine design and processing initiatives.
“Since pouring first gold in December 2020, commissioning activities at the PureGold Mine have transitioned to full-scale ramp-up of the mining and milling operations, with approximately 260 persons employed at the mine site,” the Vancouver-based company wrote.
READ: Pure Gold Mining says first gold was poured at the company’s high-grade PureGold Mine, in Red Lake, Ontario on December 29
“Performance to date has met or exceeded expectations with respect to underground development and ore production rates, milling performance and gold recovery. Gold pours and shipments have continued regularly throughout the ramp-up period.”
Pure Gold said it is forecasting around 7 grams per ton (g/t) gold grades, which is in line with the grade profile for the initial production year detailed in a 2019 feasibility study. High-grade stopes will comprise an “increasing proportion” of ore production over the next few months and head grades are expected to increase as unit costs trend downwards, it added.
Lateral sill development from the East Portal is also expected to start in late March 2021, with stope production anticipated from April onward, the company said. Ore production from the East Portal will complement current ore production from the Main Ramp, allowing the company to meet or exceed the design capacity of 800 tonnes per day from the mine.
As for the milling facility, Pure Gold said that it was performing in line with expectations, averaging around 600 tons per day for the month of February with more than 700 tons per day in the latter end of the month.
Pure Gold told shareholders that it is focusing its ramp-up activities on optimization of the mill process systems in an effort to achieve the design rate of 800 tonnes per day, which is expected to happen in the coming weeks. Gold recoveries are also tracking around 95% — in line with the firm’s expectations. Meanwhile, gold pours have been occurring at a rate of about one pour per week with regular shipments of gold doré to the .
The PureGold mine is a multimillion-ounce gold asset located in Red Lake, Ontario.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas
Read More: Pure Gold Mining Inc is on track to start commercial production at its Red Lake