After the Karlawinda Gold project poured first gold on June 30, the Capricorn Metals operation has continued to grow with continuous processing throughout August.
Capricorn’s results for the month see the company take another step towards achieving its goal of reaching full steady state operations by the end of the September quarter.
Karlawinda achieved gold production of 9800 ounces for August with Capricorn on track for an annual production rate of approximately 115,400 ounces.
The long-term production target for Karlawinda is 110,000 – 125,000 ounces per annum.
“The transition of the Karlawinda Gold Project to full operations is progressing rapidly,” Capricorn executive chairman Mark Clark said.
“To be within our long-term gold production run rate target range and to be closing in on full steady state operations in only the second month after the first gold pour is a credit to Capricorn’s operations team.
“We will continue to strive for full operations by the end of September 2021 and look forward to seeing the project become a very strong cash flow and profit generating business for the company.”
Capricorn achieved a throughput of 353,000 tonnes of exclusively hard laterite ore for August, representing a 4.2 million tonne per annum production rate.
These results were achieved despite some mill shut downs for commissioning and rectification activities. Mill availability was at 94.8 per cent for the month.
Mining and milling of soft oxide ore is expected to commence this month and should contribute to further increases in processing throughput rates.
Capricorn’s first gold bars in late June weighed 12 kilograms (386 ounces), representing the first strides of Karlawinda’s 12-year mine life.