Rayrock’s gold output rises

In the fist nine months of 1993, Rayrock Yellowknife Resources (TSE) sold more gold than in the same period last year.

Sales increased to 65,479 oz. at an average price of US$351 per oz. from 57,694 oz. at US$350. In addition, average total cash costs for the same period dropped to $US196 per oz. from $US235.

The gold came from Rayrock’s interests in three Nevada mines: 26.5% in Pinson, 44% in Dee and 66.7% in Marigold.

Production from Dee was down during the quarter because of a lower gold recovery rate from the heap leaching circuit. Furthermore, the conventional milling circuit was not used.

Delineation drilling of oxide mineralization below the north extension area was completed in November. Reserve estimates and mine planning studies are to be accomplished in the new year.