Klondex production rallies as mine, mill tons rise
TORONTO (miningweekly.com) – TSX- and Nasdaq-listed Klondex Mines reported record output for the second quarter ended June 30, saying it is making progress to meet its full-year guidance.
During the period, the Vancouver-headquartered company produced 41 400 gold equivalent ounces (GEO) from its Fire Creek and Midas mines, in Nevada. For the six months, Klondex produced 71 600 oz, as the company achieved higher mining and milling rates.
"We achieved record GEO production for the company in the second quarter and are on our way to accomplish our goal of filling the Midas mill. We are well positioned to meet our production guidance for the year as we expect our mining rates and mill head grades to be consistent with the second-quarter results, or even improve slightly, according to our mine plans,” CEO Paul Huet advised on Monday.
According to Klondex, the average head grades at Fire Creek improved quarter-over-quarter, as it mined higher-grade zones, while mine sequencing boosted the head grade at Midas.
The company expected the mill head grades at Midas to progressively increase throughout the year. Average silver recovery rates were slightly lower than expected owing to higher mill throughput, which reduced ore retention time in the leach tanks.
For the full year, Klondex expected to produce 145 000 GEO to 150 000 GEO, in line with its previous guidance.
Huet also noted that it continued to make strong progress at the True North mine, in Canada, and expected to be in a position to make a production decision in the third quarter.
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