Soon to join the ranks of gold producers, Lyon Lake Mines (LLL-M) reports that its wholly owned Beta Vargas open-pit gold mine in Costa Rica is operational.
Thirty thousand tonnes of ore are being placed on a covered heap-leach pad, and the daily processing rate of 500 tonnes is expected to be increased gradually to 750 tonnes. The ore treatment plant has a capacity of 1,000 tonnes per day.
The first 12 months of operations are expected to generate 10,000 oz. gold at a production cost of US$231 per oz., with about 50,000 oz. gold expected to be produced over the next four years.
Reserves in all categories at Beta Vargas have been pegged at 2.9 million tonnes grading 1.33 grams gold per tonne. The stripping ratio is estimated at 2-to-1.
The 39-sq.-km property, which includes the Canamazo gold concession, lies along the Pan-American Highway, 150 km northwest of the capital, San Jose.
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