QUEBEC - CENTURY MINING of Blaine, Wash., is pleased with the updated NI 43-101 report for its Lamaque gold mine near Val d'Or. The technical study that accompanies the numbers incorporates current mine plans at the Sigma-Lamaque complex and the operating scenarios for the ramp-up of production at Lamaque. The company's plan is to increase production from the Lamaque mine to 140,000-160,000 oz annually by the second quarter of 2010.
The Lamaque mine may contain 3.5 million oz of gold. There are proven and probable reserves of 7.7 million tonnes grading 4.56 g/t Au. The measured and indicated resources are 3.7 million tonnes grading 5.27 g/t Au, and finally, the inferred resources are 17.8 million tonnes at 4.83 g/t Au.
Century reopened the Lamaque underground mine in May 2007. Development work will be ongoing until the No.3 winze is complete, probably in 2012. The goal is to extract ore at a rate of 3,000 t/d. The mill will treat as much as 5,000 t/d to accommodate ore from the West Plug pit as well as Lamaque in 2010.
Total cost of the expansion is estimated at $63.3 million.
There is detailed information about the Sigma-Lamaque complex in the news release of Jan. 11, 2008, posted at www.CenturyMining.com.