Century’s Sigma cranks out gold

Vancouver — After a delay of 10 weeks, Century Mining (CMM-V) has started full-scale gold production at the Sigma mine near Val d’Or, Que.

Earlier this year, the company mined and processed a 250,000-tonne bulk sample, from which more than 20,000 oz. gold were produced, but full-scale operations were deferred because of delays in procuring equipment.

Sigma is expected to produce 70,000 oz. of the yellow metal this year, then 110,000 oz. in each subsequent year of its life. The projected cash cost is less than US$300 per oz.

Mill throughout has been ramped up to 84% of capacity, or 5,000 tonnes per day. In May, recoveries averaged 94.8% and the head grade was 1.8 grams gold per tonne.

A reserve and resource estimate compliant with National Instrument 43-101 is due in the autumn.

Century acquired the past-producing Sigma mine in mid-2004 from the Sigma-Lamaque Limited Partnership for $25.9 million. The acquisition included the Sigma and Lamaque deposits plus the 5,000-tonne-per-day carbon-in-pulp plant.

“We believe there is potential to mine in the Sigma camp for at least the next ten years, based on known resources,” says Century Mining Chairman Margaret Kent.

Century has 34.8 million shares outstanding and recently traded at 41.