Straits Resources production updates from Mt Muro
Friday, April 27 2012 - 04:25 AM WIB
Australia-listed mining and exploration firm Straits Resources Limited said that during the quarter, its Mt Muro gold mine through the development of Serujan open pit project has produced 5,030 oz Au and 131,803 oz Ag (7,628 oz Aueq) from ore released during the pre-stripping.
The ore mined has been of a lower grade than expected, particularly the silver grade. This is due to a combination of factors including remnant pit mining and increasing bulk mining practices resulting in some dilution and resource modeling of the higher level oxidized and leached material.
As a consequence of those factors, the expected output for the FY2012 year is now approximately 45,000 oz Aueq (previously 60,000 oz Aueq), said the company in a statement.
Mt Muro continues to require financial investment as it continues the pre-strip in the June 2012 quarter. Mt Muro remains on track to achieve a production of 100 koz Aueq in FY2013, as previously indicated.
The Mt Muro gold mine is located in the northern part of Central Kalimantan, owned by PT Indo Muro Kencana, a 100 percent subsidiary of Straits. The mine lies 300km due west of Balikpapan.
QUARTERLY PRODUCTION STATISTICS - MT MURO |
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| ? | Units?? | Mar 12Qtr | Dec 11Qtr | ?FY 2012 to 31 March | FY 2011 Full year |
| Ore Milled | tonnes | 143,471 | 228,027? | 544,458 | 325,035 |
| Grade-Gold | g/tAu | 1.20 | 1.20 | 1.21 | 2.5 |
| -Silver | g/tAg | 40.2 | 29.6 | 36.5 | 28.9 |
| Recovery-Gold | ?% Au | 93.7% | 93.4%? | 93.4% | 92.6% |
| -Silver | %Ag | 75.8% | 70.3% | 71.4% | 72.9% |
| Production (GoId)** | oz Au? | 5,030 | 7,898 | 19,834 | 25,022 |
| (Silver) | ?oz Ag | 131,803 | 163,198 | 442,756 | 228,502 |
| Gold Sold | oz Au | 5,690 | 7,362 | 20,189 | 25,911 |
| Silver Sold | Ag oz | 122,552? | 153,521 | 428,886 | 189,337 |
| ** Production reported is gold poured | |||||
Editing by Dadan Wijaksana