Eldorado begins commercial production at its first Canadian mine

Mill at Lamaque underground gold mine in Quebec. (Image courtesy of Eldorado Gold)

Eldorado Gold (TSX:ELD)(NYSE:EGO) has kicked off commercial production at its Lamaque mine located in Quebec, the company’s first operation in the home country, expected to produce between 100,000-110,000 ounces of gold this year.

Lamaque underground gold mine in Val d’Or, Quebec, is expected to produce up to 135,000 ounces of the precious metal a year in 2020 and 2021.

Lamaque, which the Vancouver-based company grabbed after acquiring Integra Gold in 2017, has an initial mine life of seven years and its output is set to increase to 125,000-135,000 ounces of gold in 2020 and 2021.

The underground mine produces ore from the Triangle-deposit, which is processed at the refurbished Sigma mill.

Chief Operating Officer, Paul Skayman, noted the company achieved the key milestone ahead of schedule and said that was “a testament to all of the hard work” that has gone into the project.

The deposit is located in the Val d’Or mining camp, at the eastern end of the prolific Southern Abitibi Greenstone Belt.

Eldorado said in February the new mine and the resumption of mining and heap leaching at Kışladağ gold mine in Turkey, will take its 2019 production to between 390,000 and 420,000 gold ounces.

The company also has mining, development and exploration operations in Greece, Romania, Serbia and Brazil.

5751 1

Comments

  • More Africa News