A record 2,100 oz. of gold was produced at Eastmaque Gold Mines’ (TSE) Kirkland Lake tailings project in August, following declining production in the second quarter. Lower plant feeds and metallurgical variances in the tailings reduced second quarter production, but as dredges proceed toward the higher-grade tailings on the west side of the basin, production is improving.
Production costs for the quarter were up to US$356 per oz., including royalties, at the tailings project. In the second half of 1989, cash production costs (including royalties) averaged US$301 oz. per ton.
Plant throughput for the quarter was 212,145 tons at an average grade of 0.049 oz. per ton. Gold production reached 4,166 oz.
At the American Girl joint venture in California gold production totalled 8,400 oz. for July and August. Since the mill was commissioned in late May, Eastmaque has been experiencing start-up problems. The company expects to improve production at American Girl by the end of the third quarter.
The company will begin a 15,000-ft. drilling program at the Nevada joint venture this month. Eastmaque says it has outlined nine drilling targets that have the characteristics to host high-tonnage gold deposits, and 320 additional claims have been staked to cover key ground. Eastmaque Gold Mines (TSE) 6 months ended Jun. 30 1990 1989 Revenue $8,356 $9,056 Net earnings (loss) (1,597 ) (731)
per share (0.19 ) (0.12)
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