Scotgold Resources Ltd has lowered production Q3 2022 guidance following delays at its Cononish gold and silver mine near Tyndrum in Scotland.
PRODUCTION
In its quarterly report, the Australian company said it had lowered its guidance to 2,000 ounces from the previous target of 2,900 to 3,500 oz gold.
This is due to the delayed commissioning of the power and ventilation project delaying mine development on the waste ramp which allows access to cut and fill stope 3.
The company added that Q4 2022 production was expected to be in line with the mine plan and “significantly ahead” of Q2 / Q3 2022 production, with a run rate of 16,000 oz p.a. gold.
“This is a significant step towards achieving Phase II production levels of 23,500 ounces p.a. run rate of gold as planned by end of Q1 2023.”
WORK PROGRAMMES
Scotgold is currently working to increase efficiencies, mining rates, gold recovery and production in line with its objective to achieve Phase II production levels of 23,500 oz per annum run rate of gold.
Underground power and ventilation upgrades are complete with incremental debottlenecking of process plant leading to an increase in throughput to 4,000 tonnes of feed per month.
A tailings thickener has been erected in the processing plant with construction under way.
The company has moved planned commissioning to Q4 2022 to enable smooth implementation in line with increased throughput of ore from the debottlenecking initiative.
Following commissioning, the process plant is estimated to achieve c.5,000 tonnes per month throughput.
Further optimisations of process plant tailings filter, including adding further filter plates to the tailings filter and minor modifications around the ball mill and flotation areas, are planned for Q4 2022.
This will further increase throughput of the processing plant to c.6,000 tonnes per month to achieve production levels of 23,500 ounces p.a. run rate of gold.
SALES
July and August gold concentrate shipments totalled 214 tonnes with a sales value of £2.6 million.
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