TSX-listed Eldorado Gold has achieved commercial production at its first mine in Canada – Lamaque in Val d’Or, Quebec.
Lamaque produces ore from the Triangle-deposit, which is processed at the refurbished Sigma mill.
“We are proud to announce the achievement of this important milestone just over 18 months after acquiring this asset. It is a testament to all of the hard work that has gone into the exploration, prefeasibility study, engineering and construction that we have safely delivered commercial production ahead of schedule,” COO Paul Skayman said on Monday.
With an initial mine life of about seven years, Lamaque is forecast to produce 100 000 oz to 110 000 oz of gold this year, increasing to between 125 000 oz/y and 135 000 oz/y in 2020 and 2021.
Lamaque and the restarting of heap leaching at Kisladag, in Turkey, will be key contributors to Eldorado’s drive to produce more than half-a-million ounces in 2020.
The company grew its production to 349 147 oz of gold in 2018, from 292 971 oz in 2017. Its guidance for 2019 is to produce between 390 000 oz and 420 000 oz.
Eldorado also owns Efemçukuru, in Turkey, and operates two polymetallic mines in Greece - Olympias and Stratoni.