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San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Message: San Gold Reports 2013 Q3 Production Results
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| October 16, 2013 | ||||||||||||||
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San Gold Reports 2013 Q3 Production Results
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| WINNIPEG, MANITOBA--(Marketwired - Oct. 16, 2013) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced preliminary results of operations at its Rice Lake Mining Complex in Manitoba, Canada for the quarter ended September 30, 2013. Third Quarter 2013 Production Highlights -- Gold production of 20,220 ounces. -- Mill production of 175,311 tons. -- Mine production of 167,937 tons. The Company produced 20,220 ounces of gold in the third quarter, bringing total production for the first nine months of the year to 60,100 ounces. The operation milled 175,311 tons in the quarter at an average daily throughput of 1,906 tons per day and mined 167,937 tons of ore at an average daily rate of 1,825 tons per day. Mill recovery was 93.3% and milled grade was 4.24 grams per tonne. The Company ended the quarter with approximately 7,800 tons in surface stockpiles. "We are continuing to make excellent progress toward optimizing the Rice Lake Project and driving down our overall spend. For the second consecutive quarter, the Company has met or exceeded production targets while focusing on capital and operating expenditures with the best payback. The Company will enjoy greater operational flexibility going forward as capital development on 16 Level has now crossed the down-dip extension of the Hinge zone and we accelerate development towards the down-dip extension of the 007 zone. Our surface exploration commitments for the year have been largely completed. Expenditure on property, plant and equipment has been successfully reduced without compromise to the execution of our plan," said Ian Berzins, San Gold's President, CEO and Chief Operating Officer. The Company expects to achieve its production guidance and is tracking towards production of between 75,000 and 85,000 ounces of gold in 2013. |
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