Tahoe Resources is reporting positive operating results from its Timmins assets, as it remains on track to meet its overall 2016 production and cost guidance.
The company acquired the Timmins West and Bell Creek mining operations when it purchased Lake Shore Gold earlier this year.
Tahoe said in a release the Timmins mines processed a total of 302,579 tonnes during Q3 2016, at an average grade of 3.99 grams per tonne and an average recovery rate of 96.6 per cent, for a total of 37,490 recovered gold ounces.
The Timmins operations earned $23.2 million in revenue for the quarter.
Development work on the mines is continuing, with 5,149 metres of development completed during the quarter.
At Timmins West, the company advanced infrastructure at the 144 Gap. At Bell Creek, the company achieved vertical development and repairs to the hoist plant, and engineering and procurement work is on schedule. Site infrastructure work is continuing.
The has company additionally signed an Impact Benefit Agreement (IBA) with the Mattagami, Wahgoshig, Matachewan and Flying Post First Nation communities.
According to the company, the IBA “establishes a framework for continued consultation relating to the company’s existing and future operations in and around Timmins, and provides long-term financial benefits to the four First Nation communities as well as opportunities in such areas as new business ventures, employment, training and education.”
