JOHANNESBURG (miningweekly.com) - Orinoco Gold has poured the first gold from its flagship 70%-owned Cascavel gold mine, in central Brazil, resulting in the production of the company’s first bar of gold bullion.
This was a trial gold pour using some of the gold concentrate produced during the ongoing plant commissioning phase, derived from low-grade development material. The trial gold pour was designed to commission the gold furnace and test fluxing requirements for smelting.
The Cascavel gravity processing plant is running on a 24-hour basis, while continuing to process stockpiles of low-grade development material. Over the next few weeks, high-grade parcels of ore from production stopes will be processed and assayed as the company starts its production ramp-up.
Orinoco MD Mark Papendieck commented on Monday that the first gold pour marked a significant milestone for the company and its shareholders.
“This is a moment of which we can all be incredibly proud,” he said. “It marks the beginning of our transition to commercial gold miner and vindicates the faith and commitment which our shareholders, investors, financiers and supporters have placed in the company over a number of years.
“Cascavel is a fantastic high-grade gold system, and we are only now just beginning the journey of unlocking the true potential of this entire belt. The start of production and cash-flow marks a huge milestone for Orinoco and I would like to take this opportunity to thank everyone who has assisted us to get to this point.
Once in production, Orinoco is hoping to increase production at Cascavel from the planned start-up rate of 40 000 t/y to more than 60 000 t/y by the December quarter.
Edited by: Mariaan Webb
Creamer Media Senior Deputy Editor Online
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