Trans-Siberian Gold PLC Asacha mining and production update (3975V)

TIDMTSG

RNS Number : 3975V

Trans-Siberian Gold PLC

18 April 2016

Trans-Siberian Gold plc

Asacha mining and production update

LONDON: 18 April 2016 - Trans-Siberian Gold plc ("TSG" or the "Company") (TSG.L) reports that mine development activities at Asacha in the first quarter of 2016 comprised approximately 1,115 metres, while ore extraction (including ore from stoping and mine development) amounted to 44,067 metric tonnes (mt). Plant throughput averaged 13,433 mt per month (7.5% above planned 12,500 mt).

The previously reported changes in mining methods, including shallow hole blasting, have contributed to a reduction in ore dilution to 36.6% in the first quarter of 2016, compared to 40.4% in 2015. Ore delivered to the plant in the first quarter included 17,398 mt of new stoping ore with average grade of 10.3 g/t, however delays in mine development, including construction of the transportation ramp to the 150m and 100m levels, as a result of the previously reported flooding in 2015, have restricted the mine's ability to access new stoping ore. In order to maintain monthly plant throughput of at least 12,500 mt it has been necessary also to process earlier mined tonnage with lower grades. The Company is cautiously optimistic that the proportion of new, richer grade, stoping ore in ore processed by the plant will increase during 2016.

The lower gold grade in February 2016 reflected a temporary slowdown of mining activities in that month as a result of a fire at Asacha. This caused minimal damage (estimated at US$25,000) and normal production soon resumed.

Mining and production data at Asacha is shown in the following table.

 
                     January   February       March      Total      Total 
                        2016       2016        2016    Q1-2016    Q1-2015 
------------------  --------  ---------  ----------  ---------  --------- 
  Mine development 
               (m)       310        379         426      1,115      1,152 
------------------  --------  ---------  ----------  ---------  --------- 
     Ore extracted 
              (mt)    14,946     14,089      15,032     44,067     43,598 
------------------  --------  ---------  ----------  ---------  --------- 
     Ore processed 
              (mt)    13,710     13,030      13,560     40,300     39,699 
------------------  --------  ---------  ----------  ---------  --------- 
      Average gold 
       grade (g/t)      7.17       6.93        8.03       7.38       7.43 
------------------  --------  ---------  ----------  ---------  --------- 
    Average silver 
       grade (g/t)     10.07      10.87       11.33      10.75      13.43 
------------------  --------  ---------  ----------  ---------  --------- 
     Gold recovery 
          rate (%)     94.47      94.88       95.46      94.95      95.19 
------------------  --------  ---------  ----------  ---------  --------- 
   Silver recovery 
          rate (%)     78.44      79.29       74.21      77.36      73.25 
------------------  --------  ---------  ----------  ---------  --------- 
      Gold in dore 
              (oz)     3,066      2,835       3,301      9,202      9,044 
------------------  --------  ---------  ----------  ---------  --------- 
    Silver in dore 
              (oz)     3,832      3,650       3,336     10,818     12,747 
------------------  --------  ---------  ----------  ---------  --------- 
      Gold refined 
              (oz)     2,817      1,982       4,544      9,343      9,508 
------------------  --------  ---------  ----------  ---------  --------- 
    Silver refined 
              (oz)     3,702      2,149       5,691     11,542     13,304 
------------------  --------  ---------  ----------  ---------  ---------

TSG intends to report Asacha's second quarter 2016 production in July 2016.

Ends

 
  Contacts TSG 
                                          + 44 (0) 1480 
                                                 811871 
                                          + 44 (0) 7770 
 Simon Olsen                                     484965 
 
                                            +44 (0) 207 
 Cantor Fitzgerald Europe                      894 7000 
 Stewart Dickson/David Foreman/Carrie 
  Drummond(Corporate Finance)

This information is provided by RNS

The company news service from the London Stock Exchange

END

QRFLLFISSAIELIR

(END) Dow Jones Newswires

April 18, 2016 02:00 ET (06:00 GMT)

Trans-siberian Gold (LSE:TSG)
過去株価チャート
から 6 2024 まで 7 2024