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Galane Gold Ltd. Reports First Ore Mined From the Princeton Ore Body at Its Galaxy Project
TORONTO, April 11, 2019 (GLOBE NEWSWIRE) -- Galane Gold Ltd. (“Galane Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce that it has mined
About this update from Golconda Gold Ltd
[{"type":"text","content":" TORONTO, April 11, 2019 (GLOBE NEWSWIRE) -- Galane Gold Ltd. (“Galane Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce that it has mined its first ore from the Princeton ore body at its Galaxy project (“Galaxy”). Galaxy had targeted in its original plan to produce ore from the Princeton ore body commencing in June 2019. Upon review of its mine plan, Galaxy was able to accelerate the mining of the ore and put itself ahead of its original production plan for 2019. Galaxy is targeting the first production of concentrate before the end of April 2019. Galane Gold CEO, Nick Brodie commented: “This is great news for the plan to recommence production at Galaxy and puts us in a strong position to meet our forecast for the year. We are still targeting at Galaxy steady state annual production to average 25,000 ounces of gold at an operating cash cost per ounce of less than US$800.(1)(2)(3) This represents only the first step of our resurrection of the Galaxy mine and we will shortly commence a study with the aim being to double production and lower the all-in cost as a result of increased economies of scale.” About Galane Gold Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa. Galane Gold is a public company and its shares are quoted on the TSX Venture Exchange under the symbol “GG” and the OTCQB under the symbol “GGGOF”. Galane Gold’s management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Galane Gold is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates. Notes: This is forward-looking information and is based on a number of assumptions. Scheduled ounces do not represent an estimate of mineral reserves. See “Cautionary Notes”. The deposits at the Galaxy mine are supported by a technical report entitled “A Technical Report on the Galaxy Gold Mine, Mpumalanga Province, South Africa” which was issued January 4, 2016 with an effective date of September 1, 2015 (the “Galaxy Technical Report”), and was prepared by Minxcon (Pty) Ltd and approved by Daniel van Heerden, B Eng (Min.), MCom (...