Commercial Production Declared at Serabi Gold’s Palito Mine

Serabi Gold plc (TSX:SBI,AIM:SRB) declared commercial production at its Palito gold mine with effect from July 1st, 2014. The Company also provided an update on its second quarter activities at Palito, including gold production of 3,242 ounces and total milled production of 18,645 tonnes @ 8.08 g/t Au.

As quoted in the press release:

HIGHLIGHTS:

• Commercial production declared.
• Gold production of 3,242 ounces for the second quarter 2014 and 5,542 ounces for the year to date.
• Total mine ore production for second quarter of 15,808 tonnes @ 11.36 g/t Au.
• Total milled production for second quarter of 18,645 tonnes @ 8.08 g/t Au.
• Surface ore stockpile at 30 June 2014 of approximately 13,000 tonnes @ 5.4 g/t Au.
• At 30 June 2014 more than 32,500 tonnes of flotation tailings stockpiled with a grade in excess of 2.0 g/t Au, awaiting cyanidation treatment contained gold of more than 2,100 ounces.
• Approximately 3,300 metres of underground horizontal development has been completed in the six months to 30
• June 2014.
• Carbon in Pulp leaching circuit to be commissioned during July 2014.
• A second ball mill has been installed and tested and will be operational in July 2014.

Click here to read the Serabi Gold plc (TSX:SBI,AIM:SRB) press release