With the first gold pour out of the way, the Andacollo mine in Chile is officially up and running.
Owner Dayton Mining (TSE) spent US$100 million to bring the open-pit, heap-leach project into production.
Gold production in 1996 is expected to reach 140,000 oz. at a cash cost of US$150 per oz.
Proven and probable minable reserves at Andacollo are estimated at 30.7 million tons grading 0.035 oz. gold per ton.
With mining now in full swing, Dayton plans to accelerate exploration on site, as well as investigate the possibility of acquiring precious metals properties.
The Andacollo is about 30 miles from La Serena, in central Chile.
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