Detour Gold Production Begins
Posted: February 13, 2013 Filed under: Gold, Intermediate Producers | Tags: Business, December 2012, Detour Gold, DGC, February, Mining, Mining and Drilling, Toronto Stock Exchange Leave a comment
Detour Gold (Photo credit: Wikipedia)
$21.20
Detour Gold announced the start of mining at its Detour Lake Mine. The first production line started with lowgrade material on January 12, 2013 and was followed by ore grade material.
The company noted that ramp-up of the first
production line is progressing with the SAG mill, the pebble crusher, and the ball mill all in operation. After close to one month of operation, and despite the usual teething issues, the operation team is happy to report that the fundamental parts of the circuits operate well. Next step will be the start-up of the secondary crusher to increase throughput. The gold inventory (in CIP and electrowinning) has been increasing in the circuit since start-up. It is expected to reach the level required to allow the first gold pour in mid-February
. In parallel, the electrical and instrumentation work on the second production line is progressing well and start-up is expected in March 2013. Mining rates continue to increase and are scheduled to reach 150,000 tpd in early 2013. The fourth shovel was commissioned in December 2012. Currently, the company has a mining fleet of 20 haul trucks and four shovels, which more than meets the requirements of the 2013 mining operation.
DGC also reiterated its 2013 guidance of gold production between 350,000 and 400,000 ounces of gold at cash costs between $800 and $900 per ounce.
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Gold Standard Ventures
Posted: January 24, 2013 Filed under: Exploration Companies | Tags: Area, Copper, December 2012, Gold Standard, National Instrument 43-101, Nevada, Precious metal, TSX Venture Exchange Leave a comment
Campaign poster showing William McKinley holding U.S. flag and standing on gold coin “sound money”, held up by group of men, in front of ships “commerce” and factories “civilization”. (Photo credit: Wikipedia)
(GSV : TSX-V : $1.08)
Shares of Nevada-focused Gold Standard Ventures were moving higher after announcing assay results from a new, previously unknown zone of copper and silver mineralization in the historic Central Bullion target area.
Management highlighted that hole RRB12-03 intersected 65 feet of 3.06 oz silver per short ton (Ag/st) with 0.80% copper (Cu) and 0.08% molybdenum from 45 to 110 feet within a 250 foot thick zone of 1.3 oz Ag/st and 0.25% Cu, and a second higher-grade zone of 44 feet of 6.42 oz Ag/st with 2.48% Cu from 913 to 957 feet within a 187 foot thick zone of 1.7 oz Ag/st and 0.78% Cu.
Up to now, the Central Bullion target area has received only limited exploration due to drill permitting limitations. With the Plan of Operations finalized in December 2012, GSV can now proceed with a more aggressive drilling program. Commenting on the new results, GSV’s VP of Exploration, Dave Mathewson, stated “The Central Bullion target area has been of compelling interest from the onset of our Railroad exploration program because of the exceptional high grades of metals historically mined in the area combined with the presence of a large area of strong surface rock and soil geochemistry, and the limited amount drilling, especially with core, conducted in this target area.”
He further highlighted, “RRB12-03 is by far the best hole we have drilled in the area, and it appears to be indicative of an important new zone of mineralization.”
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