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St Andrews Goldfields Ltd. (TSX:SAS,OTCQX:STADF) announced its production results for Q4 2014, as well as the whole of 2014.
St Andrews Goldfields Ltd. (TSX:SAS,OTCQX:STADF) announced its production results for Q4 2014, as well as the whole of 2014. Output for the former came to a total of 22,643 ounces of gold, while for the latter it was 90,676 ounces.
The company achieved the mid-range level of its guidance for 2014.
As quoted in the press release:
Holt Mine (‘Holt’)
Holt produced 14,908 ounces of gold derived from Zone 4 on the 925m Level and 1075m Level mining areas (60%) and from Zone 6 on the 775m Level (40%). Head grades were down approximately 16% from the previous quarter (‘Q3 2014′) due to Zone 4 stope sequencing. However, throughput was 19% higher from Q3 2014 as the operation has now established Zone 6 at the 775m Level. Mill recoveries were at their expected level of approximately 95%.
Holloway Mine (‘Holloway’)
Holloway produced 7,734 ounces of gold entirely from the Smoke Deep Zone. Production increased by approximately 30% compared to Q3 2014 as a result of higher tonnes, higher head grades, and stope sequencing. The head grade during the quarter was 13% higher than Q3 2014, and the mill recovery rate of approximately 92% was in line with expectations. Based on current information, production at Holloway is expected to continue into Q4 of 2015.
Click here to read the full St Andrews Goldfields Ltd. (TSX:SAS,OTCQX:STADF) press release.