Friday, 22nd December 2006 (2659 views)

Crew Gold has spoken of its pleasure at announcing the substantial completion of a 500 tonnes per day plant at the Masara mine in the Philippines.

The first gold pour at the property has taken place it has been declared and plant recoveries meet forecasts with gold being 90.2 per cent and silver 71.1 per cent.

Ratios of two to three ounces of silver per one ounce of gold were predicted from historical reported production numbers, however, the gold pour at Masara has discovered that silver may actually account for four ounces compared with one ounce of gold.

The vein systems at both Bonanza/Maligaya and Maria Inez will continue to be focused on by Crew Gold and "higher grade stopes" are being developed. Gold grade during full production is expected to be between six and 6.5 grams per tonne.

During next year, Masara is predicted to produce between 100,000 and 120,000 ounces which, in turn, will rise to 180,000 ounces by 2008.

Crew Gold has three mining operations that it is committed to developing, alongside Masara, these are Lefa Corridor in Guinea and Nalunaq gold mine in Greenland.

 

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