Archipelago?s 1st semester production reaches 60,386 Au oz
Wednesday, July 25 2012 - 12:18 PM WIB
UK-listed mining firm Archipelago Resources Plc reported that the production from Toka Tindung Mine in North Sulawesi in the first six months reached 60,386 Au Eq oz.
It said that mining and processing was still in line with the target with stripping ratio was 6:1 and average gold equivalent head grade of 2.44 g/t. The plant recovery rate is 90.6 percent.
"Archipelago's Toka Tindung Mine has been in production for only 15 months (including commissioning) and has produced over 121,000 Au Eq oz. Production for the first half of 2012 demonstrates that Toka Tindung continues to operate in line with our expectations. The Company looks forward to robust production for the second half of 2012 with operations to benefit from additional mining in the high grade Pajajaran and Kopra deposits,? Marcus Engelbrecht, Managing Director and CEO said.
The company said that the planning continued to indicate increased production rates for the second half, with mining scheduled for the higher grade satellite deposits at Kopra and Pajajaran.
The modeling at Kopra and Pajajaran indicates average in situ ore grades of 4.54 g/t and 4.48 g/t respectively for the next 6 months.
Editing by Adianto P. Simamora