Peerless Mine output up 28pc

AIM-LISTED junior miner, Vast Resources says gold production at its Pickstone-Peerless Mine in Chegutu increased by 28 percent to 6.057 ounces in the fourth quarter ended December 31, 2017.

This was against the 4.738 ounces recorded in the quarter ended September 30, 2017.

An online publication, The Source quoted the mining group in its quarterly production summary, saying 90 874 tonnes of ore were mined, a 27 percent increase from the 71 533 tonnes recorded in the previous quarter.

The group said production of sulphide ore was scheduled to start this year and a significant increase in installed primary milling capacity is anticipated once the sulphide plant is commissioned to 33 000 tonnes per month.

“Construction of the sulphide plant is progressing — crushing, milling and leaching components of plant now commissioned and flotation cells to be commissioned in the coming months,” he the firm’s chief executive Mr Andrew Prelea, was also quoted saying.

“Mill grade is expected to increase from 2.33g/t to between 3.00g/t and 4.00g/t over a six to nine month period as higher grade sulphide ore is mined and processed, resulting in a significant increase in production.”

The company said evaluation of the Giant Gold Project was ongoing and that artisanal miners had been relocated from the licensed area. — The Source