Vancouver – Denver-based Apollo Gold (APG-T) has poured its first gold-silver dore bar from the Standard gold mine in Pershing Cty., in northwestern Nevada. The mine, situated near Winnemucca is being operated as a satellite deposit in conjunction with the company’s Florida Canyon mine located some four miles to the north.
The open pit-heap leach operations are situated along the western flank of the Humboldt Mountain range.
Apollo began construction and development of the Standard operation after receiving the necessary operating permits in May 2004. The company began loading onto the leach pads in October 2004, and plans to step-up production throughout 2005 to more than 40,000 oz. gold for the year at the newly constructed mine.
The Standard deposit was shown to be capable of producing 80,000 to 100,000 oz. gold per year in preliminary feasibility work done in 2002.
Apollo’s Florida Canyon open pit, heap leach gold mine situated at the northern end of the property, has produced over 1.9 million oz. gold over the 17 years it was operating.
Florida Canyon produced 101,811 oz. along with minor amounts of silver in 2003 at cash costs of US$285 per gold oz. The relatively higher costs and lower production in 2003 was owing to the depletion of ore reserves in the three historic open pits. Mining moved to two newly developed pits (Switchback and Central) in 2003.
The grades in the new pits are marginally lower and require further ore haulage which adds to the transport costs.
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