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HARARE – Chegutu-based gold producer, Pickstone-Peerless Gold Mine’s fourth quarter gold output jumped 28 percent from the previous quarter to a quarterly record of 6 057 ounces.
According to parent company, Vast Resources the rise in output was attributable to a high level of pre-stripping was undertaken in the quarter, which assisted in paving the way for access to the deeper lying sulphide bearing ores.
In terms of production during the period under review, 90 874 tonnes of ore were milled, up 27 percent quarter-on-quarter.
There was a 26 percent quarter-on-quarter increase in ore milled to 86 097 tonnes and a 28 percent quarter-on-quarter increase in gold production to 6 057 ounces.
Meanwhile, at Vast’s other porjects outside of Zimbabwe, the wholy-owned Manaila polymetallic mine in Romania’s operations were affected by a planned shut-down of the plant in December in anticipation of finalising off-take finance.
The shut-down had a dramatic impact on production figures for the fourth quarter but lays the foundation for improved performance at Manaila for 2018.
The mine saw a 42 percent quarter-on-quarter decline in ore mined to 23 622 dry tonnes and a 34 percent decrease in ore milled to 25 654 dry tonnes, said Vast management.
Commenting on the developments, Vast chief executive officer Andrew Prelea said:
“The two principal developments which marked Q4 2017 as a notable period were the commissioning of the crushing, milling and leaching circuits of the sulphide plant in Zimbabwe and the increase in production capacity achieved thereby, and the temporary cessation of primary mining and processing at Manaila in order to establish a more rigorous mine plan and processing route for 2018.
“The first development directly resulted in a record quarter for Pickstone-Peerless, a tremendous result for the team and I am confident that this step change in output will continue over the coming months. He added:
“Combined with an ever-improving production profile at our Pickstone-Peerless Gold Mine and ameliorating economic and political environment in Zimbabwe, we are well positioned to deliver more value throughout the coming months.”
Online Reporter