Banks Island Gold’s Yellow Giant Reaches Commercial Production

Banks Island Gold (TSXV:BOZ) reported on Friday that it had declared commercial production at its Yellow Giant Gold Project in BC, effective January 1st.

As quoted in the press release:

The declaration of commercial production is a matter of judgment and involves the continuing evaluation of various aspects of the mining operation. Upon analysis of the operations at Yellow Giant since October 30th 2014, the Board of directors has decided to declare commercial production effective January 1st, 2015 even though all the criteria above were not met. The decision to declare commercial production was based on the following key aspects of the operation:

• The average Run of Mine (“ROM”) feed through the DMS circuit averaged 205tpd for all of 2014 and 282tpd from September 1st to December 31st 2014.
• Overall gold recovery over 277 days was 85% which excludes the gold present in the remaining DMS fines stockpile (4%) which will be re-processed.
• Average gold production has not reached 77oz equivalent per day, this is because the Company experienced higher than expected dilution due to circumstances encountered mining around the old workings at the Bob Zone. Based on this unexpected dilution and the fact that the Company produced a saleable product for 277 days in 2014 the Board has decided that its current production level is sufficient for commercial production.

Click here to read the Banks Island Gold (TSXV:BOZ) press release