Golden Giant mine 6-month figures

Six-month production figures are in on the Golden Giant gold mine in Ontario’s Hemlo gold camp. Operated by Noranda Inc., which holds a 50% interest, this was the first mine in the famed camp to produce gold, pouring its first bar April, 1985.

Noranda’s partners in the venture are Golden Sceptre Resources and Goliath Gold Mines. They share the remaining 50% interest.

For the six months ended June 30, the mine produced 127,000 oz of gold at an operating cost of $150(C) per oz. The amount of ore milled amounted to 361,000 tonnes grading 11.8 g per tonne.

In June, 64,200 tonnes of ore were milled with an average grade of 14 g per tonne to produce 27,500 oz gold at an operating cost of $136 per oz. In that month, ore production amounted to 2,140 tonnes per day. The mine is expected to reach 3,000 tonnes per day by early 1988.