San Gold Corporation Provides Updates for Rice Lake, Guidance for 2013 & 2014

San Gold Corporation (TSX:SGR, OTCQX:SGRCF) announced updates to mineral resources, production results and guidance for 2013 & 2014 for Rice Lake.

As quoted in the press release:

Highlights

• Proven and Probable mineral reserves of 253,000 ounces, an increase of 21% from March 31, 2012 (an increase of 75% after accounting for mined ounces).
• Measured and Indicated mineral resources of 655,000 ounces, an increase of 17% from March 31, 2012 (an increase of 32% after accounting for mined ounces).
• Highest ever production in 2012 of 86,506 ounces of gold, an increase of 17% over 2011.
• Milling capacity was significantly increased during the year to 2,500 tons per day from 2,000 tons.
• Continued exploration success along the depth extension of the 007 zone that returned 12.6 g/t gold over 6.0 metres and 15.5 g/t gold over 11.1 metres.

San Gold’s President and Chief Executive Officer, George Pirie, said:

2013 will mark another significant step forward in the evolution of the Rice Lake Mining Complex by extending operational access beneath the current mining areas at the 007 and Hinge mines, which have combined resources capable of sustaining production for the next ten to fifteen years.

To view the whole press release, click here.