First Gold Pour Ballarat Gold Project
Castlemaine Goldfields Limited (ASX:CGT) has completed its first gold pour during re- commissioning at the Ballarat Gold Project.
The gold pour, weighing in at 8,517 grams (260 ounces of gold) represents gold recovered from the gravity circuit. The sulphide leach circuit is currently being re- commissioned, and will commence treating sulphide concentrate in October, with the first gold production from this part of the circuit expected later that month. Re- commissioning of the gold processing plant has continued on plan and with no significant issues, utilizing low grade ore (2 to 3g/t) for this part of the start-up. It is expected that between 5,000 and 8,000 ounces of gold will be produced for the 2011 calendar year.
Gold bullion production will increase as the underground mine development and gold ore mining continues to ramp-up over the next 6 to 9 months. The company also remains on track targeting to produce approximately 50,000 ounces annually once this ramp-up period has been completed.
A photograph of the first gold pour at the Ballarat Gold project is included below.
Managing Director Mr. Matthew Gill commented"Another milestone has been achieved, on time, as we progress through re-commissioning. This event is significant for the company, our employees and shareholders, as we make the company defining transition from explorer to producer.
We are pleased with the progress to date, and that these activities have been done professionally and safely, and are a credit to our work teams on site. We remain on track to produce approximately 50,000 ounces of gold next year."
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