Scorpio Gold Produces 10,294 Ounces of Gold in First Quarter 2014 at the Mineral Ridge Operation, Nevada
23 4월 2014 - 9:00PM
Marketwired
Scorpio Gold Produces 10,294 Ounces of Gold in First Quarter 2014
at the Mineral Ridge Operation, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 23, 2014) -
Scorpio Gold Corporation ("Scorpio Gold" or the "Company")
(TSX-VENTURE:SGN) announces its operating results for the first
quarter ("Q1") of 2014 at its 70% owned Mineral Ridge project,
located in Nevada.
Production at Mineral Ridge in Q1 2014 totalled 10,294 ounces of
gold and 5,113 ounces of silver.
Peter J. Hawley, CEO, reports, "The Mineral Ridge operation
posted another strong quarter with ore production and processing
throughput running above forecast and head grades in line with our
expectation for Q1 2014. This is a great start to the year and puts
Scorpio Gold in a very good position to meet our 2014 production
forecast of 40,000 to 45,000 ounces of gold."
Key Operating Statistics
|
Q1 2014 |
|
Q1 2013 |
|
% Change |
|
Mining operations |
|
|
|
|
|
|
|
Drinkwater pit |
|
|
|
|
|
|
|
|
Ore
tonnes mined |
154,952 |
|
163,542 |
|
-5.3 |
% |
|
|
Waste
tonnes mined |
398,233 |
|
613,066 |
|
-35.0 |
% |
|
|
Total
mined |
553,185 |
|
776,608 |
|
-28.8 |
% |
|
|
Strip
Ratio |
2.6 |
|
3.7 |
|
-29.7 |
% |
|
|
|
|
|
|
|
|
|
Mary pit |
|
|
|
|
|
|
|
|
Ore
tonnes mined |
92,748 |
|
34,941 |
|
165.4 |
% |
|
|
Waste
tonnes mined |
415,361 |
|
327,015 |
|
27.0 |
% |
|
|
Total
mined |
508,109 |
|
361,956 |
|
40.4 |
% |
|
|
Strip
Ratio |
4.5 |
|
9.4 |
|
-52.1 |
% |
|
|
|
|
|
|
|
|
|
Total producing pits |
|
|
|
|
|
|
|
|
Ore
tonnes mined |
247,700 |
|
198,483 |
|
24.8 |
% |
|
|
Waste
tonnes mined |
813,594 |
|
940,081 |
|
-13.5 |
% |
|
|
Total
mined |
1,061,294 |
|
1,138,564 |
|
-6.8 |
% |
|
|
Strip
Ratio |
3.3 |
|
4.7 |
|
-29.8 |
% |
|
|
|
|
|
|
|
|
|
Pits under development |
|
|
|
|
|
|
|
|
Waste
tonnes mined (pre-stripping) |
257,396 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
Total mining operations |
|
|
|
|
|
|
|
|
Ore
tonnes mined |
247,700 |
|
198,483 |
|
24.8 |
% |
|
|
Waste
tonnes mined |
1,070,990 |
|
940,081 |
|
13.9 |
% |
|
|
Total mined |
1,318,690 |
|
1,138,564 |
|
15.8 |
% |
|
Processing |
|
|
|
|
|
|
|
Tonnes processed |
244,773 |
|
205,846 |
|
18.9 |
% |
|
Gold head grade (g/t) |
1.95 |
|
2.42 |
|
-19.4 |
% |
|
Ounces produced |
|
|
|
|
|
|
|
|
Gold |
10,294 |
|
7,411(1 |
) |
38.9 |
% |
|
|
Silver |
5,113 |
|
2,740(1 |
) |
86.6 |
% |
|
Crusher throughput (tonnes per day) |
3,264 |
|
2,745 |
|
18.9 |
% |
|
Recoverable(2) gold (ounces) placed on pad |
9,966 |
|
10,401 |
|
-4.2 |
% |
(1) |
Production numbers for Q1 2013 were negatively impacted by the
prior sale of approximately 1,878 ounces of gold and 759 ounces of
silver that were part of a sale of loaded carbon that accelerated
production and revenue completed in Q4 2012. |
(2) |
A 65%
metallurgical recovery factor has been applied to the estimated
contained ounces crushed and placed on the leach pad. |
About Scorpio Gold
Scorpio Gold holds a 70% interest in the Mineral Ridge gold
mining operation located in Esmeralda County, Nevada with joint
venture partner Waterton Global Value L.P. (30%), and is currently
entitled to receive 80% of cash flow generated. Mineral Ridge is
currently in production as a conventional open pit mining and heap
leach operation. The Mineral Ridge property is host to multiple
gold-bearing structures, veins and lenses at exploration,
development and production stages. Scorpio Gold also holds a 100%
interest in the advanced exploration-stage Goldwedge property and
processing facility in Manhattan, Nevada. The Company is assessing
its exploration plans for the Goldwedge property as well as the
potential for toll milling at the Goldwedge plant, which is
currently permitted for 400 tons per day.
Scorpio Gold's CEO, Peter J. Hawley, PGeo, is a Qualified Person
as defined by National Instrument 43-101 and has reviewed and
approved the content of this release.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Peter J. Hawley, CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
The Company relies on litigation protection for forward-looking
statements. This news release contains forward-looking statements
that are based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur, and include, without restriction, any statements
regarding the Company achieving production forecasts for 2014. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or
results to differ materially from estimated or anticipated events
or results implied or expressed in such forward-looking statements,
including risks related to open pit mining and heap leach
operations, including unanticipated changes in the mineral content
of materials being mined; unanticipated changes in recovery rates;
changes in project parameters; failure of equipment or processes to
operate as anticipated; the failure of contracted parties to
perform; availability of skilled labour and the impact of labour
disputes; delays in obtaining governmental approvals; changes in
metals prices; the availability of cash flows or financing to meet
the Company's ongoing financial obligations; unanticipated changes
in key management personnel; changes in general economic
conditions; other risks of the mining industry; and those risk
factors outlined in the Company's Management Discussion and
Analysis as filed on SEDAR. Any forward-looking statement speaks
only as of the date on which it is made and, except as may be
required by applicable securities laws, the Company disclaims any
intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty thereof.
Scorpio Gold CorporationSteve RoebuckPresident(819)
825-7618sroebuck@scorpiogold.comwww.scorpiogold.comInvestor
Relations:Jim Macdonald, Torrey Hills Capital(858)
456-7300jm@sdthc.com
Scorpio Gold (TSXV:SGN)
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