Gold

Newmarket Gold Inc. (TSX:NMI,OTCQX:NMKTF) announced its production results for the first quarter of 2016, commenting that it achieved consolidated production of 58,057 ounces of gold.

Newmarket Gold Inc. (TSX:NMI,OTCQX:NMKTF) announced its production results for the first quarter of 2016, commenting that it achieved consolidated production of 58,057 ounces of gold. That’s comprised of 33,138 ounces from Fosterville, 16,340 ounces from Cosmo and 8,579 ounces from Stawell.
Other Q1 2016 highlights include:

  • Fosterville achieves a quarterly record 33,138 ounces, record mill grade of 7.34 g/t Au, up 28% YoY, and strong recovery of 86.8%
  • 27% improvement in Cosmo production over Q4, 2015 to 16,340 oz, grade of 3.09 g/t and recovery of 90.7%
  • 8,579 oz production at Stawell at an average grade of 1.43 g/t and 79.9% recovery
  • Fosterville Gold Mine updated Mineral Reserves at year-end 2015 increased 34% to 244,000 ounces of gold, after depletion, as a result of the of the high-grade, visible gold-bearing Eagle Fault Zone which comprises approximately 18% of total Fosterville underground Mineral Reserves. Mineral Reserve grade as at year-end 2015 increased 25% to 6.95 g/t from 5.55 g/t as at December 31, 2014 (see Newmarket Press Release dated March 21, 2016)
  • Recent drilling results from the Fosterville Lower Phoenix gold system include drill intercepts of 500.7 g/t Au over 12.5 metres (“m”) (ETW* 4.5 m, UDH1501) and 112.2 g/t Au over 19.0 m (ETW* 11.9 m, UDH1487) (See Table 1, 2)
  • Fosterville’s new gravity gold circuit is operational and being commissioned with free gold currently being recovered

Click here to read the full Newmarket Gold Inc. (TSX:NMI,OTCQX:NMKTF) press release.

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