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Galane Gold Ltd. Reports the Commissioning of the 15,000 Tonne per Month Plant at the Galaxy Project and the Production of Its First Concentrate
TORONTO, April 16, 2019 (GLOBE NEWSWIRE) -- Galane Gold Ltd. (“Galane Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce that it has comme
About this update from Golconda Gold Ltd
[{"type":"text","content":" TORONTO, April 16, 2019 (GLOBE NEWSWIRE) -- Galane Gold Ltd. (“Galane Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce that it has commenced commissioning of its 15,000 tonne per month plant at the Galaxy project (“Galaxy”) and the production of its first concentrate. Galaxy has commenced operating through the existing refurbished 15,000 tonne per month plant in line with its schedule for the restarting of production. The Company will ramp up production through the remainder of the month, as part of the commissioning process, to the point when the Company expects to use the full capacity of the plant from May onwards. Work is still ongoing on the upgrade of the plant to 30,000 tonnes per month(1) which is currently planned to be completed by September 2019. Galane Gold CEO, Nick Brodie commented: “Another important milestone has been reached by the team at Galaxy on our plans to get to a steady state annual production, on average, of 25,000 ounces of gold at an operating cash cost per ounce of less than US$800.(2),(3),(4)” 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: (1) The Company advises that it is not basing its decision to expand the throughput capacity of the Galaxy mine’s processing plant to 30,000 tpm on a feasibility study of mineral reserves demonstrating economic and technical viability of production at such levels, and as a result there is increased uncertainty and there are multiple technical and economic risks of failure which are associated with producing at such plant’s throughput capacity. These risks, among others, include areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more...