GOLD MINING: Lac Herbin turning the corner

QUEBEC – In June 2011, Alexis Minerals of Toronto implemented a turn around plan for its underperforming Lac Herbin gold mine 10 km northeast of Val d’Or. And it seems to be working, says the company.

Production levels and operating cash costs have been stabilized. The company expects to produce between 18,500 and 20,500 oz of gold in 2012. Cash cost information will be released in May.

During Q4 2011 recovery rates from the mill remained lower than anticipated, said Alexis, with an average of 81%. In Q1 2012 recovery rates have improved, and continued improvements at the Aurbel mill will continue to be an area of focus.

Technical reports on Lac Herbin and other Alexis properties are posted on AlexisMinerals.com. Readers might also be interested in the April 2012 corporate presentation.