Business
Declaration of commercial production at Palito ...
Declaration of commercial production at Palito ....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Declaration of commercial production at Palito and second quarter operations update For immediate release 23 July 2014Serabi Gold plc(\"Serabi\" or the \"Company\")Declaration of commercial production at Palito and second quarter operations update Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, is pleased to announce that commercial production at its Palito gold mine commenced with effect from 1 July 2014. The Company also provides an update on its activities at its high-grade underground gold mining operation at Palito for the second quarter of 2014.HIGHLIGHTSCommercial production declared. Gold production of 3,242 ounces for the second quarter 2014 and 5,542 ounces for the year to date.Total mine ore production for second quarter of 15,808 tonnes @ 11.36 g/t Au. Total milled production for second quarter of 18,645 tonnes @ 8.08 g/t Au. Surface ore stockpile at 30 June 2014 of approximately 13,000 tonnes @ 5.4 g/t Au.At 30 June 2014 more than 32,500 tonnes of flotation tailings stockpiled with a grade in excess of 2.0 g/t Au, awaiting cyanidation treatment contained gold of more than 2,100 ounces.Approximately 3,300 metres of underground horizontal development has been completed in the six months to 30 June 2014. Carbon in Pulp leaching circuit to be commissioned during July 2014.A second ball mill has been installed and tested and will be operational in July 2014. SUMMARY PRODUCTION STATISTICS FOR SIX MONTHS TO 30 JUNE 2014 Quarter 1 Quarter 2 Year to date Horizontal development Metres 1,491 1,804 3,295 Mined ore Tonnes 11,387 15,808 27,195 Gold grade (g/t) 7.09 11.36 9.57 Milled ore Tonnes 14,050 18,645 32,695 Gold grade (g/t) 6.91 8.08 7.58 Gold production (1) Ounces 2,300 3,242 5,542 Gold production figures are subject to amendment pending agreement of final assay results of copper/gold concentrate soldMike Hodgson CEO said \"The first quarter of this year saw a steady ramp-up of mill production, with throughputs during t...