Copperstone Gold Mine Progress for June 2013
posted on
Jul 17, 2013 09:10PM
313,000oz Au (M+I) of > 10 g/t
American Bonanza Gold Corp.
TSX : BZA
OTCQX : ABGFF
July 17, 2013 19:29 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 17, 2013) - American Bonanza Gold Corp. (TSX:BZA)(OTCQX:ABGFF) ("Bonanza" or "Company") is pleased to announce progress at the 100% owned Copperstone gold mine in Arizona during June 2013.
A total of 1,224 ounces of gold were produced during June with an increase in the mill feed grade to 0.154 ounces of gold per ton. This gold production represents the highest gold produced in one month at the Copperstone Gold Mine, as the operation continues to progress toward designed production rates.
Production Summary (see below for detailed breakdown of figures) | ||||||
Development Mining | January 2013 |
February 2013 |
March 2013 |
April 2013 |
May 2013 |
June 2013 |
Zones | < 4 | 7 | 6 | 5 | 4 | 3 |
Development mined | 146 t/d | 253 t/d | 167 t/d | 291 t/d | 399 t/d | 311 t/d |
Ore Mining | ||||||
Total rock mined | 463 t/d | 562 t/d | 474 t/d | 622 t/d | 766 t/d | 623 t/d |
Ore mined | 317 t/d | 308 t/d | 347 t/d | 331 t/d | 367 t/d | 312 t/d |
Rounds per day mined | 5 | 4.3 | 5.2 | 4.9 | 5.2 | 5 |
Ore Processing | ||||||
Ore processed | 322 t/d | 315 t/d | 333 t/d | 346 t/d | 349 t/d | 313 t/d |
Mill recovery | 82% | 86% | 80% | 81% | 89% | 85% |
Concentrates | ||||||
Gravity concentrate | 15 Oz/t | 47 Oz/t | 34 Oz/t | 30 Oz/t | 43 Oz/t | 60 Oz/t |
Flotation concentrate | 23 Oz/t | 30 Oz/t | 18 Oz/t | 27 Oz/t | 21 Oz/t | 28 Oz/t |
Gold produced | 520 Oz | 878 Oz | 670 Oz | 815 Oz | 1,041 Oz | 1,224 Oz |
Concentrates
1,224 ounces of gold were produced during June, comprised of 381 ounces of gold contained in flotation concentrate and 843 ounces of gold in gravity concentrate.
Ore Mining
To view the 2013 Gold Production Chart, please visit the following link: http://media3.marketwire.com/docs/bza717i.pdf
Development
Ore Processing
As a point of clarification, and as previously announced in a press release dated June 11, 2013, although Bonanza has received the requisite approvals to raise up to $10 million, Bonanza is currently engaged in raising up to $5m by way of a private placement for funds to support capital expenditures on equipment and an inventory of spare parts as well as a contingency fund of $1.5m to bring the mine to design production rates.
Mr. Brian Kirwin, President & CEO, commented: "Excellent team work between the mining, geology and engineering teams, and the new mine planning procedures, are contributing to steadily increasing ounces of gold produced on a monthly basis. Development mining progress towards the C-Zone is also anticipated to allow for higher ore mining rates in the near future. It is expected that production increases will accelerate further as the recently announced financing will provide additional working capital that should help improve productivity."
Mine and mill performance for the month of July will be announced towards the end of August.
Doug Wood, P. Geo the Vice President of Exploration of the Company, is the "qualified person" as defined in NI 43-101 who has reviewed and approved the technical information in this news release.
About American Bonanza Gold Corp: Bonanza is operating the newly constructed Copperstone gold mine in Arizona. For more information please visit Bonanza's website at www.americanbonanza.com.
AMERICAN BONANZA GOLD CORP.
Brian Kirwin, President & Chief Executive Officer