Silver Standard Resources reported that its Marigold mine passed a major milestone with the production of its three millionth ounce of gold on October 6. The Marigold mine has been in continuous operation since 1988 and is forecast to produce between 195,000-205,000 ounces of gold this year at cash costs below $750/oz.
“Three million ounces of gold from continuous production at Marigold is a testament to the scale and quality of the deposit and the commitment of the Marigold team,” said Paul Benson, president and CEO, Silver Standard. “[Marigold] has consistently replaced [reserves] and today it has similar mine life as when it opened. We are advancing several exploration targets and the Marigold assay program, which have the potential to increase production throughout the planned mine life and to add to mineral resources. The team remains focused on efficient, reliable and safe production at the lowest possible cost.”