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Be the first with the news that moves the market- Antioquia Gold (TSXV:AGD) has reported record monthly production in June this year from its Cisneros mining operation, totalling 1,857 troy ounces of gold
- The site processed an average of 475 tonnes per day with a recovery rate of 96.5 per cent
- This represents a 27 per cent increase over May’s total gold production of 1,446 troy ounces
- The company is also preparing for a plant expansion to 1,200 tonnes per day and the mining of several narrow vein stope blocks
- Antioquia Gold (AGD) is currently steady at C$0.04 per share
Antioquia Gold (TSXV:AGD) has reported record monthly production in June this year from its Cisneros mining operation, totalling 1,857 troy ounces of gold.
Located in the central region of the department of Antioquia, Colombia, roughly 55 kilometres northeast of Medellin, the Cisneros project is comprised of 10 concessions over a total of 5,630 hectares.
The Cisneros mine originally began production in the first quarter of 2019, and is host to structurally controlled, mesothermal, high-grade vein deposits.
An average of 475 tonnes of ore were processed each day at the project, with a gold recovery rate of 96.5 per cent. The total amount of gold produced represents a 27 per cent increase over May’s production levels, which were reported at 1,446 troy ounces with an average of 357 tonnes of ore processed each day.
Gonzalo de Losada, President and CEO of Antioquia Gold, said the results are very encouraging.
“The 27 per cent growth in gold production in June, added to the coming increase in plant processing capacity, is highly satisfactory and encourages us to continue working towards solid growth of the company.
“This is a production record for our company, which we expect to surpass very soon as we continue to ramp up our production and resources,” he said.
Separately, Antioquia Gold is preparing for a plant expansion to 1,200 tonnes per day. Both pre-commissioning and commissioning for the project began in mid-July, and preliminary tests for a second ball mill were carried out in June with promising results.
The company is also looking to mine a number of narrow vein stope blocks in July this year using the long hole stoping method. These blocks are expected to add to an increase in feed grades over the next few months.
Antioquia Gold (AGD) is currently steady at C$0.04 per share at 3:21pm EDT.
