Banks Island hits commercial production at Yellow Giant

Banks Island Gold’s (TSXV: BOZ) Yellow Giant gold-silver project is the latest mine to achieve commercial production in northwestern British Columbia.

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Banks Island Gold’s (TSXV: BOZ) Yellow Giant gold-silver project is the latest mine to achieve commercial production in northwestern British Columbia.

The mine is part of the 160 km2 Yellow Giant property on Banks Island, some 110 km south of Prince Rupert in the Skeena mining division. The underground mine reached commercial production on Jan. 1, 2015, roughly 11 months after it started production in February.

Getting to this milestone hasn’t been easy. The junior faced escalating costs, unexpected mining dilution and working capital shortages. While Banks Island modified its operations and scaled back its mine development to lower mining dilution and preserve working capital, it still needs more funds to meets its operational goals.

During 2014, the mine ran for 277 days. The company stopped production from mid-June to early August to add grinding and floatation circuits to the processing plant. It also had 24 days of limited or no production in November and December due to low working capital and poor weather.

Over the 277 operating days, the company estimates that it mined and processed 59,000 tonnes of run-of-mine feed at a diluted grade of 7.7 g/t Au to generate 14,529 contained gold oz.

Read the complete article at NorthernMiner.com/news/banks-island

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