Georgetown: Canadian-owned Guyana Goldfield Inc., which operates the Aurora mines in Cuyuni/Mazaruni area, has set a record breaking production in September. According to the company, gold production from mining operations totalled 41,000 ounces for the third quarter ended September 30, 2017.
Last month, in its record gold production month since the commencement of mining operations, it poured 18,900 ounces.
The Aurora mines is said to produce at least 160,000 ounces out of the 700,000-plus ounces that Government has projected.
The company, one of the two large scale gold mining companies in Guyana, had set between 160,000 and 180,000 ounces of gold for the year.
In the third quarter ended September 30, 2017, the mill processed an average of 6,170 tonnes per day (“tpd”) of ore at an average head grade of 2.53 grams per tonne gold (g/t Au) with gold recoveries averaging 90.3%.
“Due to mine sequencing, gold grade and, therefore, gold production are expected to be the strongest in the fourth quarter as mining is focused on the hard rock diorite ore within Rory’s Knoll open pit,” the mining company said.
With gold prices holding a heartening high, reaching up to US$1,340 per ounce but coming down to US$1,276 as of yesterday, players would have paying keen attention to company’s performance. It trades on the market.
Although small and medium scale miners produced the majority of the 700,000 ounces last year, Goldfields and Aussie-owned Troy Resources had contributed over 200,000 ounces between them.
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