Vancouver —
San Gregorio is the only producing gold mine in Uruguay.
The company’s new record was 5,943 oz. better than the historic record achieved in the last quarter of 1999. Production of 8,876 oz. gold in May also represents a new monthly record for the open-pit mine.
The improved performance is attributed to higher grades, which rose steadily to 2.65 grams gold per tonne in the fiscal fourth quarter from 1.65 grams in the first quarter of the fiscal year.
During the latest quarter, 306,238 tonnes were processed at a grade of 2.65 grams, with average recoveries of 95.2%.
The London-based company is on track to produce about 100,000 oz. gold this year from San Gregorio, with most of the production coming from the newly developed Arenal pit.
Uruguay Mineral Eploration also holds numerous other projects in Uruguay, including properties prospective for gold, copper, nickel, lead and zinc.
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