29TH AUGUST 2016
BY: HENRY LAZENBY
CREAMER MEDIA DEPUTY EDITOR: NORTH AMERICA
http://www.miningweekly.com/article/barrick-pours-first-gold-at-south-arturo-2016-08-29
VANCOUVER (miningweekly.com) –
Gold major Barrick Gold has poured first gold at its South Arturo mine,
located in Nevada’s Carlin Trend, its 40%-joint-venture partner Premier
Gold Mines reported Monday.
Barrick, as the operator through its subsidiary Barrick Gold Exploration, processes the ore from South Arturo at its Goldstrike facility located about 5 km to the south.
ADVERTISEMENT
Mine development was completed on-time and on budget with ore being processed starting on August 1. To the end of July, about 55-million tons of material (ore and waste) had been mined in 2016.
The second-quarter average mining cost was $1.16/t, compared with a budgeted cost of $1.28/t, Premier advised. The savings are mainly related to Barrick's company-wide cost savings programme.
The 2016 gold output attributable to Premier is estimated to be 80 000 o and the project is expected to be cash-flow positive for the year, net of capital.
The South Arturo deposit contains proven and probable reserves, on a 40% basis, of 1.14-million tonnes, grading 4.4 g/t gold for 161 000 oz of gold. It also contained 243 000 oz of silver at a grade of 6.62 g/t.
Measured and indicated resources, also on a 40% basis, stands at 30.47-million tonnes, grading 1.3 g/t gold for 860 000 oz, and 4.39-million ounces of silver at a grade of 6.67 g/t.
Premier advised that the joint venture continues to assess additional opportunities for future development, including other potential openpit and underground deposits on the property.
Drilling from the Arturo pit will be completed to further define the El Nino underground deposit situated down plunge of the current Phase 2 pit. Permitting work associated with a potential underground ramp to be driven from the pit is currently underway. Bulk samples from the underground portal at the historic Storm mine, as well as additional planned drilling will be used to complete more detailed metallurgical test work to refine the economic opportunity of additional open pits on the property, Premier stated.
EDITED BY: CREAMER MEDIA REPORTER
Premier Gold Mines Ltd. - Supplement Mercedes Acquisition Presentation -
https://www.premiergoldmines.com/news/press-releases/supplement-mercedes-acquisition-presentation
http://ih.advfn.com/p.php?pid=nmona&article=72083216
https://www.premiergoldmines.com/
great bargain -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=122244152
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=122997232
http://www.kitconet.com/images/live/au0001wb.gif
- God Bless -
Recent IAU News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/03/2023 06:38:49 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/04/2023 06:19:26 PM
- i-80 Gold Announces High-Grade Results from Underground Drilling at Cove • PR Newswire (US) • 06/07/2023 10:00:00 AM
- i-80 Gold Announces High-Grade Results from Underground Drilling at Cove • PR Newswire (Canada) • 06/07/2023 10:00:00 AM
- i-80 Gold Announces New High-Grade Results from Underground Drilling at Cove • PR Newswire (US) • 05/09/2023 04:00:00 PM
- i-80 Gold Announces New High-Grade Results from Underground Drilling at Cove • PR Newswire (Canada) • 05/09/2023 04:00:00 PM
- i-80 Gold Completes Acquisition - High-Grade FAD Deposit • PR Newswire (Canada) • 05/08/2023 05:29:00 PM
- i-80 Gold Completes Acquisition - High-Grade FAD Deposit • PR Newswire (US) • 05/08/2023 05:29:00 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM