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Serabi Gold Plc - First Month of Gold Productio...
Serabi Gold Plc - First Month of Gold Productio....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Serabi Gold Plc - First Month of Gold Production at Palito Gold MineFor immediate release12 February 2014Serabi Gold Plc(\"Serabi\" or the \"Company\")First Month of Gold Production at Palito Gold MineSerabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, today announces details of its first month of continuous gold production at its wholly owned Palito gold mine in Para, Brazil. As reported on 23 December 2013, initial testing of the process plant started on 13 December 2013 and continued until the year end. Since 5 January 2014, the Company has been increasing production throughput for each of the milling, gravity and flotation/filtration sections of the plant in accordance with the Company's plans. HighlightsOver 5,000 tonnes have been crushed 3,264 wet metric tonnes (\"wmt\") processed through the milling, gravity and flotation sections of the plant during January, Average hourly throughputs in line with full scale production estimates Ore stockpile awaiting processing of 25,000 tonnes at 10.2 g/t of gold During this initial ramp up and testing phase the Company has processed lower grade ores to minimise potential losses whilst optimisation work is on-going. After taking this into account and also the initial loading of the plant, gold concentrate available for sale for the period has a gold content of 170 ounces. The first shipment of copper/gold concentrate material to be sold is expected to be transported from site during February.Mike Hodgson the CEO of Serabi said:\"We are delighted to be reporting our first month of production and are on track to reach full throughput by 1 April 2014. \"During the month, we operated the plant for over 300 hours and milled 3,264 tonnes, which is generally consistent with our longer term target throughput rates of some 10.5 tonnes per hour. \"We deliberately have used lower grade development ore to start the plant, until we were content with its performance which, together with having to initially load the plant, explains for the low production results. However, by the end of January we had begun processing ore grading in excess of 8 g/t of gold. With approximately four months of high grade ore, at an average grade of 10g/t of gold stockpiled in front of the plant, we remain ...