Mega news just read it!!28 Oct 2016 20:32
Patagonia Gold Plc, the mining company with gold and silver projects in Argentina, Chile and Uruguay, is pleased to provide an update on its open pit mine and heap leach processing facility at Cap-Oeste (the "Project").
Gold and silver production has commenced at the Project, with the first pour of doré completed on 27 October 2016. Mining of the orebody to date has loaded approximately 100,000 tonnes of ore to the heap leach pad which is now under irrigation and leaching. The mine and plant are fully commissioned and ramp-up to full production capacity is complete. The commissioning was accomplished with only minor delays and full leaching capacity was realised with the first three weeks of operation. Initial metal recoveries are being achieved in line with expectations with cyanide consumption being at approximately 50% less than the original estimate.
The forecast production for the Project during the 24 month expected life of mine is estimated to be approximately 82,000 oz AuEq, with potential to increase the mine life with supply from satellite deposits such as Monte Leon. In addition, optimisation for the Project is ongoing, with options to increase the initial pit size being considered and work is also ongoing in respect of the underground mine at Cap-Oeste and COSE. Further updates in this regard will be made as appropriate.