SAS Reports Q1 2015 Production of 23,727 Ounces of Gold, Exceeding Q1 Forecast by 11%, and Announces Release Date for Q1 2015 Financial Results and Conference Call
TORONTO, April 9, 2015 /CNW/ -
St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF), ("SAS" or the "Company") is pleased to report its first quarter ("Q1 2015") production for 2015 of 23,727 ounces of gold, achieving 11% higher production than Q1 2015 forecast.
"We are very pleased with the results of Q1, having surpassed our gold production forecast estimates by 11%", said Duncan Middlemiss, President and Chief Executive Officer of SAS.
"Q1 2015 throughput from the Holt and Holloway Mines was in line with previous guidance in terms of tonnes processed.
The additional gold produced is attributed to achieving higher grades to the mill than originally anticipated.
Both mines experienced 7% higher head grades than forecast.
We look forward to achieving our guidance of 85,000 – 95,000 ounces of gold from Holt and Holloway in 2015, and advancing our Taylor Project into commercial production by the fourth quarter of this year."
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