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Superior Gold Inc. announced its production results for the third quarter of 2018 from the company’s 100 percent-owned Plutonic Gold operations.
Superior Gold Inc. (TSXV:SGI) announced its production results for the third quarter of 2018 from the company’s 100 percent-owned Plutonic Gold operations, located 800 kilometres northeast of Perth, in Western Australia. The Plutonic Gold operations include the Plutonic underground mine and the Hermes open pit mine.
Highlights are as follows:
Operating Parameters1
Q1
Q2
Q3
YTD
Nine month
period
ended
September
30, 2018
Stope material mined (Tonnes)
152,101
157,479
176,068
485,649
Stope grade mined (g Au/t)
2.61
3.18
2.75
2.84
Development material mined (Tonnes)
55,401
35,483
49,219
140,103
Developmentgrade mined (g Au/t)
1.58
1.79
1.96
1.76
Hermes material mined (Tonnes)
157,179
252,521
245,672
655,373
Hermes grade mined (g Au/t)
1.58
1.51
1.40
1.49
Hermes waste mined (Tonnes)
2,517,823
2,269,357
2,789,275
7,576,455
Surface material milled (Tonnes)2
133,741
199,315
216,797
549,853
Surface material grade (g Au/t)\2
1.52
1.64
1.45
1.53
Total material milled (Tonnes)
343,932
388,513
437,067
1,169,512
Grade milled (g Au/t)
2.01
2.27
2.02
2.10
Recovery (%)
86%
90%
87%
88%
Gold Produced (ounces)3
19,232
25,608
24,719
69,559
Gold Sold (ounces)3
18,940
25,797
25,842
70,579
Chris Bradbrook, president and CEO, commented:
We are pleased to have achieved record quarterly gold sales for the second successive quarter at our Plutonic Gold operations. The ounces sold in the third quarter of 2018 represent a 24 percent year over year increase. Of particular significance is the fact that, with cumulative production of 50,327 [ounces] from the second and third quarters, we have now maintained an annualized production rate of more than 100,000 ounces for the past six months.
During the quarter, we commissioned the gravity circuit and saw the positive benefits from its operation. A scheduled tank reline was expected to negatively affect recoveries, but this was offset by the beneficial impact of the gravity circuit. Recently announced site changes are achieving the intended improvements, which we believe will lead to improved operating performance.
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