Business
Golconda Gold Releases Q4 and FY 2024 Production Update
TORONTO, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Golconda Gold Ltd. (“Golconda Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce production of
About this update from Golconda Gold Ltd
[{"type":"text","content":" TORONTO, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Golconda Gold Ltd. (“Golconda Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) is pleased to announce production of 2,230 ounces of gold for the fourth quarter of 2024 (“Q4 2024”) and 7,712 ounces of gold for the year ended December 31, 2024 (“FY 2024”) at its Galaxy Gold Mine (“Galaxy”), a 22% increase in gold production compared to the prior year. The production numbers for the FY 2024 are as follows: Ore Source Q1 2024 Q22024 Q32024 Q42024 FY2024 FY2023 Princeton UG Ore Mined (t) 2,317 5,128 7,231 10,536 25,212 12,607 Ore Grade (g/t) 3.84 3.80 3.95 3.51 3.73 4.17 Waste (t) 2,510 2,741 10,669 8,316 24,236 7,020 Galaxy UG Ore Mined (t) 11,175 11,495 20,870 18,943 62,483 50,779 Ore Grade (g/t) 3.28 2.68 2.91 2.98 2.95 3.09 Waste (t) 5,453 11,966 14,580 10,542 42,541 24,574 Total UG Ore Mined (t) 13,492 16,623 28,101 29,479 87,695 63,386 Ore Grade (g/t) 3.37 3.03 3.18 3.17 3.18 3.30 Waste (t) 7,963 14,707 25,249 18,858 66,777 31,594 Processing Q1 2024 Q22024 Q32024 Q42024 FY2024 FY2023 Concentrate produced (t) 1,095 1,514 2,129 1,923 6,661 5,146 Concentrate grade (g/t) 42.8 32.7 34.8 36.1 36.0 38.3 Gold produced (oz) 1,507 1,591 2,384 2,230 7,712 6,339 Fourth quarter 2024 Highlights: mined 29,479 tonnes of ore from its Galaxy and Princeton ore bodies, with an average grade of 3.17 grammes per tonne (g/t) compared to 28,101 tonnes at 3.18 g/t in the three months ended September 30, 2024 (“Q3 2024”), an increase of 5% in ore tonnes mined quarter on quarter; and produced 1,923 tonnes of concentrate at an average grade of 36.1 g/t containing 2,230 ounces of gold compared to 2,129 tonnes at 34.8 g/t containing 2,384 ounces of gold in Q3 2024, a decrease of 6% in gold production quarter on quarter. Year ended December 31, 2024 Highlights: mined 87,695 tonnes of ore from its Galaxy and Princeton ore bodies, with an average grade of 3.18 g/t compared to 63,386 tonnes at 3.30 g/t in the year ended December 31, 2024 (“FY 2023”), an increase of 38% in ore tonnes mined year on year; and produced 6,661 tonnes of concentrate at an average grade of 36.0 g/t containing 7,712 ounces of gold compared to 5,146 tonnes at 38.3 g/t containing 6,339 ounces of gold in FY 2023, an increase of 22% in gold production year on year. Golconda Gold CEO, Ravi Sood commented: “2024 was a ye...