Business
Komet Resources Provides Production and Development Update for Guiro Mine in Burkina Faso
QUEBEC CITY, QUEBEC--(Marketwired - Oct. 23, 2017) - Komet Resources Inc. ("Komet" or the "Company") (TSX VENTURE:KMT) is pleased to provide the following updat
About this update from Brunswick Exploration, Inc.
[{"type":"text","content":"QUEBEC CITY, QUEBEC--(Marketwired - Oct. 23, 2017) - Komet Resources Inc. (\"Komet\" or the \"Company\") (TSX VENTURE:KMT) is pleased to provide the following update on the latest developments regarding its production activities at the Guiro Mine and to present the various projected works aiming at increasing and stabilizing mill feed as well as setting up the conditions which will allow the Company to achieve, in the short term, its objectives of profitability. Over the last few months, the Company has carried out extensive optimization work at the mine site and has installed new state-of-the-art equipment at the plant while also reviewing and optimizing all processes in the production chain. Despite the inevitable slowdown in production rates and the delays and shutdowns caused by these major changes, Komet is encouraged by the fact that it has successfully completed all these transformations while minimizing the impact on both the level of production and the income from the sale of gold. In fact, during the last quarter (Q3), the Company managed to maintain gold sales of $840,544 compared to $1,223,925 in Q1 and $979,153 in Q2. With most of the work now completed, the Company now finds itself well-positioned to increase the level of production and to deliver the long-awaited earnings. Underground mining operation: 12 teams made up of a total of more than 120 miners spread over 3 8-hour shifts currently operate the Guiro mine 7 days a week. The number of tonnes hoisted per month in recent quarters averaged 1,575 tonnes in Q1 and Q2 and 1,770 tons in Q3. The number of tonnes hoisted in September was 2149 and our goal now is to hoist more than 2250 tonnes per month. The stopes currently being excavated are stopes 31 and 32 on level 2 on the west, stope 4-1 on the west and stopes 5-1 on the east and 5-2 on the west. Development drifts: More than 70 meters were excavated at level 3 West to reach hole GU2015-35 (1.4 m at 31.1 g/t Au.) and the mineralized vein has now been intercepted. More than 38 meters were excavated at level 4 east to reach hole GU2015-16 (4.3 m at 9.2 g/t Au). Development drift 4 West is planned to be excavated 170 meters to reach the new mineralized zones defined in the 2015 exploration drill campaign (GU2015-04 with 2 m at 5.8 g/t Au and GU2015-32 with 0.7 m at 8.7 g/t Au). Other underground work: Backfilling...