Higher grades at the La Camorra gold operation in Bolivar state, Venezuela, have translated into record production figures for
In April, the head grade at the underground mine was 0.77 oz. gold per ton, and in May, this improved to 0.82 oz. — significantly better than the average reserve grade of 0.55 oz. The higher grade is attributable to decreased dilution from longhole stoping.
The company expects these higher grades to continue through to year-end, allowing it to reach its production goal of 80,000 oz. for 2000.
Meanwhile, cash operating costs have fallen to US$190 per oz. and are expected to continue dropping throughout the year.
Hecla acquired La Camorra in mid-1999, when it bought the mining assets of Monarch Resources. After a 3-month shutdown for refurbishing, the mine resumed production in October.
The company spent US$3 million making mine and mill improvements, as well as installing a tailings facility.
Hecla is currently exploring for lateral extensions of the Betzy vein, having intersected the vein more than 1,300 ft. below the surface. The veins are hosted in Precambrian greenstones, where the ore occurs as free gold or associated with pyrite.
The company is awaiting permits to drilling surface targets.
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