The underground mine, owned 100% by Bond International Gold (TSE), produced 49,635 oz of gold from ore grading 0.66 oz per ton for the 9-month period ended June 30, 1989. This exceeds the company’s earlier estimate of 38,800 oz by more than 20%.
Situated 45 miles west of Pickle Lake, the 300-ton-per-day mining and milling complex is operated on a fly-in/fly-out basis from Dryden, Ont.
Desmond Kearns, president of Bond Gold Canada, was pleased with the mine’s recent operating results and noted that “the Golden Patricia team has developed one of the most successful new gold mines in Canada.”
According to Kearns, the mine continues to improve and is now planned to produce nearly 77,000 oz in fiscal 1990. Production is then expected to average 78,000 oz per year, he said.
The mine began commercial production back in October, 1988. It currently has some 335,000 oz of contained gold in proven and probable reserves totalling 584,000 tons at a grade of 0.575 oz.
Drilling has outlined the deposit for more than two miles along strike and to an average depth of 650 ft. The company reports there is “significant potential” for additional discoveries on its surrounding property. Blessed with a relatively simple geological setting, the gold is contained in a narrow, steeply dipping quartz vein that is mined by shrinkage open stoping. Miners pay particular attention to maintaining narrow mining widths to limit waste rock dilution of the ore.
During the year, mill production averaged more than 300 tons per day, an increase over the original capacity of 275 tons per day. Average recovery was 90.4%, and had improved to 94.2% by fiscal year- end through improvements in the gravity and filter circuits.
The company reported cash costs of $276 per oz at the Golden Patricia operation last year and has set a target of $242 per oz for the current period.
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