QUEBEC — Alexis Minerals of Toronto says gold production in 2008 from its Lac Herbin mine 10 km northeast of Val d’Or was 18,115 oz, 6.6% above target. The target for 2009 is at least 36,000 oz of gold. The mine officially began commercial production in October 2008.
The Lac Herbin mine is expected to generate a profit of C$59 million over five years. Average production costs over that period will be approximately C$536 per oz. Alexis based its cost estimate on a gold price of US$850 per oz.
Further information about Alexis can be found at its website, www.AlexisMinerals.com.