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Monday, January 14, 2013

GOLD: Shanta Gold’s Tanzania play posts 5 748 oz Q4 output




14th January 2013


JOHANNESBURG (miningweekly.com) – Aim-listed Shanta Gold reported on Monday that fourth-quarter output from its Tanzania-based New Luika gold mine, which started production in August, totalled 5 748 oz, with a further 1 917 oz of gold absorbed on carbon.
The original two-stage crushing circuit was upgraded to a tertiary crushing circuit in early January to increase the throughput capacity from 390 t/d in the last quarter to the 870 t/d level required to meet the 2013 production target of 70 000 oz.
The initial crushing circuit did not have the capacity to handle the run-of-mine ore, which resulted in poor plant availability and low volumes of tons milled in the quarter ended December 2012.
Shanta Gold CEO Mike Houston said initial processing plant recovery issues were largely resolved and that a consistent mill feed would further enhance efficiencies.
“Commissioning of the recently upgraded three-stage crushing circuit will result in a more consistent feed to the mills and enable the company to build up a stockpile of crushed ore, which will assist in alleviating potential downstream plant outages,” he said in a statement on Monday.
The company expected to remain in a ramp-up period during the first quarter of this year.
Work on the revised medium-term New Luika mine plan, incorporating the higher-grade Bauhinia Creek resource, was continuing and was expected to be published in the second quarter, following completion of additional in-pit geotechnical drilling.
Edited by: Chanel de Bruyn

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