By Henry Lazenby,
Vancouver-based gold miner Nevsun Resources on Tuesday said the 42 000 oz of gold it had produced at its flagship Bisha mine, in Eritrea, was in line with expectations as it was preparing to switch from processing gold-bearing oxides to copper ore by midyear.
The company expected to produce between 80 000 and 90 000 oz of gold in the first half of the year.
Waste mined in the quarter totalled 1.92-million tons for a strip ratio of 5.1:1. Despite a two-week mill shut-down for mill re-lining and readying for the copper transition later this year, the company milled 432 000 tons of ore.
The average head grade at the mill was 4.14 g/t and recoveries were at 79%.
The company’s Toronto-listed shares rose 4% to close ay C$3.88 apiece on Tuesday.
Nevsun Announces Q1 2013 Bisha Operating Results
Q1 2013 OPERATING HIGHLIGHTS
- Gold production – 42,000 ounces, in line with guidance
- Ore mined – 475,000 tonnes
- Waste mined – 1,925,000 tonnes
- Milled – 432,000 tonnes at 4.14 g/t gold and 79% recovery
Nevsun Resources Ltd. (TSX: NSU / NYSE MKT: NSU) is pleased to announce gold production results of 42,000 ounces for the quarter ending March 31, 2013, which is in line with previous guidance of 80,000 to 90,000 ounces of gold for the first half of 2013.
Waste mined in the quarter was 1,925,000 tonnes for a strip ratio of 5.1 to 1 by volume. The 432,000 tonnes milled was inclusive of a planned two-week mill shut-down for mill re-lining and readying for the copper transition later this year.
The copper phase transition continues on plan, for plant commissioning mid this year.
Full financial results will be released in mid-May 2013.