St Andrew Goldfields (SAS) said it produced 23,727 ounces of gold in the first quarter of 2015 — 11 per cent more than its forecast for that period— and plans to have its Taylor Project in commercial production by the fourth quarter.
The company operates the Holt and Holloway gold mines, along with the Holt Mill, located approximately 45 km northeast of Kirkland Lake and 52 km east of Matheson.
"Q1 2015 throughput from the Holt and Holloway Mines was in line with previous guidance in terms of tonnes processed,” Duncan Middlemiss, president and CEO, said in a news release. “The additional gold produced is attributed to achieving higher grades to the mill than originally anticipated. Both mines experienced 7 per cent higher head grades than forecast.
“We look forward to achieving our guidance of 85,000 to 95,000 ounces of gold from Holt and Holloway in 2015, and advancing our Taylor Project into commercial production by the fourth quarter of this year."
The company said underground development activities had started at the site following the February decision to move the Taylor Project forward to commercial production. SAS has completed 243 of lateral development, with a focus on continuing the ramp development to access additional mining fronts within the 1004 lens and to develop a second egress for emergency purposes, according to the release.
Permitting requirements are underway.
