17:00 Thu 09 Jul 2020
Ariana Resources PLC - Q2 2020 PRELIMINARY PRODUCTION RESULTS
AIM: AAU
Q2 2020 PRELIMINARY PRODUCTION RESULTS
Second Quarter Preliminary Production Results*:
· Gold production for the quarter was 4,679 ounces (Q1 2020: 5,129 ounces)*, meeting half-year annual guidance.
· Total ore processed for the quarter was 54,862 tonnes (Q4 2019: 53,840 tonnes) at an average head grade to the plant of 3.02 g/t gold.
· Quarterly open-pit ore mined was 77,179 tonnes, at an average mined grade of 2.79 g/t gold, and total material movement for the quarter was 973,603 tonnes.
· Average metallurgical recovery of gold for the quarter remains high at 91.8%.
* All figures are given gross with respect to the JV.
Dr.
"The second quarter of 2020 again witnessed better than planned rates of production, despite corresponding with the global onset of COVID-19. Material movements from the pits were maintained at very high rates, while ore production also continued at near record levels. The mill also performed at some of the highest monthly rates ever recorded, reaching an annualised rate of almost 220,000 tonnes per annum which represents an increase of over 45% above the feasibility designed rate.
"Production from our highest-grade pit, Arzu South, is as planned now drawing to a close with production shortly to be focused entirely on the Arzu North and Derya pits. In addition, the mine has continued to maintain a stockpile of well over 130,000 tonnes of ore at a grade of approximately 2.5 g/t gold, sufficient to cover at least eight months of mill feed.
"As I expressed in my statement last quarter, we would like to again thank our joint venture team for their commendable efforts during a very uncertain time. I recognise that it has been a difficult period for everyone on the team but, despite the circumstances, the teamwork displayed was extraordinary and we were even able to effectively and safely conclude a significant drilling programme on Arzu South with our drilling contractors. We again wish all those involved in the Company's success, and their families, well during what continues to be an unsettling period."
Q2 2020 Preliminary Production Results
|
Unit |
Q2 2020 |
Q1 2020 |
Q2 2019 |
|
Tonnes |
973,603 |
1,030,697 |
943,034 |
|
Tonnes |
77,179 |
92,482 |
43,367 |
|
g/t Au |
2.79 |
2.54 |
4.59 |
Process plant throughput |
Tonnes |
54,862 |
53,840 |
48,132 |
Plant feed grade |
g/t Au |
3.02 |
3.22 |
4.16 |
Metallurgical recovery |
% |
91.8 |
92.5 |
95.2 |
Gold produced |
Troy Ounces |
4,679 |
5,129 |
6,438 |
Silver produced |
Troy Ounces |
61,986 |
67,459 |
82,988 |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Contacts:
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Tel: +44 (0) 20 7407 3616 |
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Tel: +44 (0) 20 7628 3396 |
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Tel: +44 (0) 20 7886 2500 |
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Tel: +44 (0) 20 3004 9512 |
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Editors' Note:
About
Ariana is an AIM-listed mineral exploration and development company operating in
The 100% owned
Ariana is also earning-in to 50% of
For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com.
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