LONDON (Alliance News) - Patagonia Gold PLC Monday said it has achieved the scheduled production target at Lomada and is preparing a detailed drill programme.
The gold-and-silver exploration-and-production mining company with operations in the Patagonia region of Argentina said it has achieved its scheduled production target of 62,000 tonnes at 2.4 grams per tonne of gold loaded onto its pad in October, with 1,671 ounces of gold poured.
Patagonia Gold said that in anticipation of the Lomada mine generating free cash flow by year end, it is preparing a 20,000 metre detailed drill program for the first half of 2014 commencing early in the first quarter.
The company also said that it has identified three target areas for drilling at its la Manchuria South prospect and that results to date at the site include a 1.05 metre space at 3.51 grams per tonne of gold and 150.3 grams per tonne of silver.
Patagonia Gold shares were down 0.4% to 13.70 pence Monday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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