Anaconda provides updates on the Pine Cove gold mine

Anaconda Mining Inc., a Canada-based mining company with a portfolio of advanced-stage exploration projects in Canada and South America, provides an update on start-up of its Pine Cove Gold Mine, located near Baie Verte, Newfoundland.

The company is focusing on optimisation of the mill and operator training. The company is now operating the back end of the mill, which includes the grinding circuit, leaching tanks and recovery of gold in solution, within design parameters.

This work is focused on refining the first-pass separation of ore and waste and thereby maximising gold recovery.

Throughput since early June has averaged approximately 250 tonnes per operating day and initial ore feed to the mill has averaged 3.0 grams of gold per tonne, which is slightly higher than the projected life of mine average.

The staged commissioning of the Gekko is necessary to ensure that it achieves operating specifications as defined by the engineered plant design. While the plant has not yet reached its overall operating production capacity as per design, gold is being accumulated in inventory and a decision on proceeding with an initial gold pour will be made by the company in due course.