Trans-Siberian Gold PLC Asacha Mining & Production Update (7020Q)

TIDMTSG

RNS Number : 7020Q

Trans-Siberian Gold PLC

17 October 2013

Trans-Siberian Gold plc

Asacha mining and production update

LONDON: 17 October 2013 - Trans-Siberian Gold plc ("TSG" or the "Company") (TSG.L) reports that mine development activities at Asacha in the third quarter of 2013 comprised approximately 751 metres, while ore extraction (including ore from stoping and mine development) amounted to 38,647 metric tonnes. In the same period, 41,941 mt was processed through the Asacha plant, the highest quarterly total to date.

During the third quarter the mine continued to implement the previously reported measures to reduce dilution and improve the grade of ore delivered to the plant. The results achieved in a test of the new mining methods in July were encouraging, that month's average grade of 7.38 g/t including ore extracted from the test area at more than 16 g/t. However it is clear that such improved results may not be achievable in some areas where mine development was undertaken in 2012. Mine development for areas to be mined in 2014 is being undertaken in line with the new stoping methods to be used. The Company believes that significantly better grades can be obtained from those newly developed areas.

Mining and production at Asacha in the first nine months of 2013 is shown in the following table.

 
                        1(st)      2(nd)          July        August               3(rd)       Year        Year 
                      quarter    quarter          2013          2013     Sept    quarter    to date     to date 
                         2013       2013                                 2013       2013       2013        2012 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Mine development 
  (metres)                396        795           217           252      282        751      1,942       3,160 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Ore extracted 
  (tonnes)             45,352     47,923        10,232        13,098   15,317     38,647    131,922      90,259 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Ore processed 
  (tonnes)             35,585     35,298        13,235        14,477   14,229     41,941    112,824      99,084 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Average 
  gold grade 
  (g/t)                  6.36       6.60          7.38          6.47     6.11       6.63       6.54        6.66 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Average 
  silver grade 
  (g/t)                  9.80      10.77         10.43         11.50    10.40      10.79      10.47       12.51 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Gold recovery 
  rate (%)              94.52      93.58         94.72         94.66    95.52      94.95      94.39       95.48 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Silver recovery 
  rate (%)              78.81      70.28         75.40         71.44    79.17      75.43      74.79       65.54 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Gold in 
  dore (oz)             6,826      6,929         2,953         2,969    2,689      8,611     22,366      20,934 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Silver in 
  dore (oz)             8,791      8,416         3,443         3,388    4,047     10,878     28,085      26,849 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Gold refined 
  (oz)                  6,833      7,117         1,389         4,190    1,727      7,306     21,256      19,773 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ---------- 
 Silver refined 
  (oz)                  8,865      8,826         1,681         5,015    1,795      8,491     26,182      25,001 
------------------  ---------  ---------  ------------  ------------  -------  ---------  ---------  ----------

TSG intends to report Asacha's fourth quarter 2013 production in January 2014.

Ends

 
  Contacts TSG 
 Simon Olsen                                   + 44 (0) 7770 484965 
 
 Cantor Fitzgerald Europe                      +44 (0) 207 894 7000 
 David Foreman / Stewart Dickson (Corporate 
  Finance) 
 Jeremy Stephenson (Corporate Broking)

This information is provided by RNS

The company news service from the London Stock Exchange

END

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