Business
San Gold Reports 2013 Production Results
San Gold Reports 2013 Production Results.
About this update from San Gold Corporation
[{"type":"text","content":"\n \n \n San Gold Reports 2013 Production Results\n \n \nSan Gold Reports 2013 Production Results\n \n WINNIPEG, MANITOBA--(Marketwired - Jan 23, 2014) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced preliminary results of operations at its Rice Lake Mining Complex in Manitoba, Canada for the fourth quarter and full year ended December 31, 2013. \n \n \n \n 2013 Production Highlights\n \n \n \n Fourth Quarter\n Annual\n \n \n Gold production\n 15,118 oz\n 75,218 oz\n \n \n Mill production\n 148,042 tons\n 641,710 tons\n \n \n Mine production\n 144,165 tons\n 629,311 tons\n \n \n Grade\n 3.78 gpt\n 4.32 gpt\n \n \n Recovery\n 92.7%\n 93.1%\n \n \n \n Fourth Quarter 2013 Preliminary Operating Results\n The Company produced 15,118 ounces of gold in the fourth quarter, bringing full year production to 75,218 ounces, consistent with the Company's full-year guidance of between 75,000 and 85,000 ounces. The operation milled 148,042 tons in the quarter at an average daily throughput of 1,609 tons per day and mined 144,165 tons of ore at an average daily rate of 1,567 tons per day. Mill recovery was 92.7% and milled grade was 3.78 grams per tonne. The Company ended the year with approximately 4,000 tons in surface stockpiles. \n \"2013 was a transitional year for San Gold. While I am disappointed that we did not achieve higher grades during the quarter due to problems with sequencing of stoping activities we did achieve our overall guidance for gold production. On balance we made significant progress during the year towards integrating our Rice Lake operations and developing the underground infrastructure to support the addition of more stoping areas thereby providing better opportunity in future to blend ore zones and add incremental tonnage. During the fourth quarter we successfully developed into the new 710 HW ore zone on 26 Level in Rice Lake where we have begun mining and expect to see higher grade material from this zone in the coming months. In addition we have advanced our development workings on 16 Level underneath the current Hinge workings and we are now positioned to better define the down dip extensions of these zones and add additional stoping areas to the mining mix as the year progresses,\" said Ian Berzins, San Gold's President, CEO and Chief Operating Officer.\n The Company is forecasting production of be...