ST. ANDREW GOLDFIELDS (TSX:SAS) The major structural features in the area are the Porcupine-Destor Fault Zone ("PDFZ") Along the PDFZ, over 110 million ounces of gold have been produced. A similar structure to the south, namely the Larder Lake Cadillac Fault Zone, extends west of Kirkland lake to Cadillac with gold production in this area totalling approximately 70 million ounces of gold.
Within the SAS Company's extensive land package extending over a linear distance of approximately 120 kilometres east of Timmins, Ontario and up to the Quebec border, SAS has the opportunity to continue to add to the prosperous future of this renowned mining district.
SAS reports annual 2013 production results of 99,548 ounces of gold -
TORONTO, Jan. 9, 2014 /CNW/ -
St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF), ("SAS" or the "Company") is pleased to report annual 2013 production of 99,548 ounces of gold from its Holt, Holloway and Hislop mines achieving the mid-range level of its 2013 guidance. Fourth quarter production ("Q4 2013") was in line with expectations, with 24,300 ounces produced.
"We are very proud of our team for achieving record production and within our stated 2013 production guidance of 95,000 - 105,000 ounces", said Duncan Middlemiss, President and Chief Executive Officer of SAS. "The Holt Mine continues to increase its production profile on an annual basis, and we look forward to the continuation of this trend. All required infrastructure is in place and with the development of Zone 6, additional production flexibility will be enabled. We look forward to delivering on our objectives in 2014, with the same vigor as in previous years."
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