Rouyn-Noranda, Que.-based Richmont Mines (ric-t) has entered commercial production at its Nugget Pond gold mine on the Baie Verte peninsula of Newfoundland.
The startup was completed on time and within budget at $27 million.
This year, the 400-ton-per-day operation is scheduled to produce 32,000 oz. gold from 90,000 tons (81,600 tonnes) of ore grading 0.357 oz. gold per ton (12.2 grams per tonne), at a cash cost of US$153 per oz.
Proven and probable reserves stand at 488,000 tons (442,600 tonnes) grading 0.357 oz. gold.
Drilling will attempt to extend the known ore zones and delineate a mineralized zone discovered during ramp construction.
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