ONTARIO and QUEBEC – Toronto-based St Andrew Goldfields produced a record amount of gold in Q4 2011 The 22,350 oz of gold is a 12% increase from Q3. The company operates the Holt, Holloway and Hislop mines in the Kirkland Lake region of Ontario.
According to St Andrew, the Holt mine continues to ramp up towards steady state production levels of 1,000 t/d expected towards the end of Q1 2012, and concurrent production and development of the Smoke Deep zone at the Holloway mine is ongoing. The company is forecasting annual gold production for 2012 of between 90,000 to 100,000 oz of gold.
Meanwhile, near Val d’Or, QC, Osisko Mining is also setting records, as is expected for a mine that began production only last year. In the fourth quarter gold production was 79,718 oz, and since the first gold pour was made in April 2011, the total is 200,137 oz. The company noted that the grade increased in Q4 to 0.96 g/t Au and recoveries are consistently higher than the 88.3% figure in the feasibility study.
The construction of a pre-crushing circuit is progressing well, said Osisko, and will be completed on schedule. With that in mind, the company plans to produce between 610,000 and 670,000 oz of gold in 2012.
Osisko recently acquired the Hammond Reef gold project hear Atikokan, ON. Read more about it at osisko.com.