Officials at St. Andrew Goldfields Ltd. have reported Q2 2014 production of 22,505 oz gold from its Holt, Holloway and Hislop mines; 2014 guidance, meanwhile, lies between 75,000 and 85,000 gold oz.
“We had another strong quarter and remain on track to meet our 2014 guidance,” said CEO Duncan Middlemiss. “With just under 47,000 oz produced year-to-date, we are positioned to meet our objectives, and continue to reduce costs and increase margins.”
The Holt asset, according to company officials, produced 15,140 oz gold from Zone 4 on the 925-m level and 1075-m level mining areas and Zone 6 on the 775-m level. Head grade of 4.7 grams per metric ton (g/mt) gold, and mill recoveries of approximately 94%, they added, were both in line with expectations.
Holloway produced 4,893 oz of gold from the Smoke Deep Zone with a head grade of 4.09 g/mt gold and mill recovery rate of 91%, slightly below expectations. Encouraging diamond drill results continued to confirm zone continuation below the 925-m sublevel and along strike to the east. Hislop produced 2,472 oz of gold in Q2 with grades averaging 2.14 g/mt gold, slightly above reserve grades at 2.05 g/mt gold. Q2 Mill recovery for Hislop, meanwhile, averaged 75%, owing to the processing of significant ore containing a fine gold size fraction; operations ceased in early Q2 as the reserves in the West Pit are depleted.