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Superior Gold Inc. announced commercial production at its Hermes project, which is located in Western Australia.
Superior Gold Inc. (TSXV:SGI) announced commercial production at its Hermes project, which is located approximately 65 kilometres southwest of the company’s Plutonic gold mine in Western Australia.
As quoted in the press release:
The Company considered a dual test to determine the conditions required for Hermes to achieve commercial production. These included: 1) reaching 85 percent of the planned daily haulage rate from Hermes to the Plutonic mill, and 2) delivering a cumulative total tonnage of 100,000 tonnes from Hermes to the Plutonic mill. The Company will include Hermes in its operating costs beginning April 1, 2018.
Chris Bradbrook, president and CEO of Superior Gold, commented:
This is another important milestone for the Company. We have been able to build Hermes from internally generated cash flow and completed this work less than 18 months after taking ownership of the Plutonic gold operations in October 2016. It is anticipated that the contribution of mineralization from Hermes will allow us to reach our 2018 production guidance of 100,000 to 110,000 ounces of gold. As production from Hermes was ramping up during the quarter, our first quarter of 2018 will have the lowest quarterly production level for the year.
Click here to read the full Superior Gold Inc. (TSXV:SGI) press release.