Austral anticipates Chilean gold by month-end
PERTH (miningweekly.com) – Junior gold producer Austral Gold is expecting to start gold production at its Guanaco-Amancaya Mine Complex, in Antofagasta, before the end of the month.
The ASX- and TSX-V-listed company on Thursday said construction of the heap reprocessing project was now complete, and commissioning had started.
For the remainder of 2023, the project is expected to produce between 7 000 oz and 9 000 oz of gold equivalent ounces at a cash cost of less than $700/oz.
“We are very proud to have achieved this key milestone which we expect to add low-cost production to our operations. I would like to thank our employees, contractors and suppliers for completing this project. I would also like to thank our bankers and supportive shareholders,” said Austral CEO Stabro Kasaneva.
The $5-million Heap Reprocessing project has proven mineral reserves of 223 000 oz of gold and 1.04-million ounces of silver and is expected to provide production until 2033.
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