Elevation Gold Mining Corp. reported gold sales of 31,666 ounces (oz) for 2022, an increase of 18% over 2021 gold sales. During Q4 2022, the Moss mine, located in Mohave County, Arizona, processed 738,477 metric tons (mt) of ore to produce 9,183 oz of gold. The grade averaged 0.53 g/mt, a 111% increase from Q4 2021 and a 2% increase in ounces over Q3 2022. The average mined grade increased steadily throughout 2022 from 0.35 g/mt in Q1 2022 to 0.42 g/mt in Q2 2022, to 0.51 g/mt in Q3 2022, and to 0.53 g/mt in Q4 2022.
“Our fourth quarter production was consistent with third quarter production notwithstanding a disruptive but beneficial change in mining contractors during the quarter,” Elevation Gold CEO Tim Swendseid said. “Even though ore mining was hampered by the transition, we anticipate fully recovering the tonnage during 2023 through improved performance by the new contractor.”
The company also reported progress with its exploration activities at Florence Hill. “We are currently drilling the fifth out of a total of six holes, and everything is progressing smoothly,” Swendseid said. “We remain highly excited in anticipation of the assay results.”