17th Oct 2013 07:00
Trans-Siberian Gold plc
Asacha mining and production update
LONDON: 17 October 2013 - Trans-Siberian Gold plc ("TSG" or the "Company") (TSG.L) reports that mine development activities at Asacha in the third quarter of 2013 comprised approximately 751 metres, while ore extraction (including ore from stoping and mine development) amounted to 38,647 metric tonnes. In the same period, 41,941 mt was processed through the Asacha plant, the highest quarterly total to date.
During the third quarter the mine continued to implement the previously reported measures to reduce dilution and improve the grade of ore delivered to the plant. The results achieved in a test of the new mining methods in July were encouraging, that month's average grade of 7.38 g/t including ore extracted from the test area at more than 16 g/t. However it is clear that such improved results may not be achievable in some areas where mine development was undertaken in 2012. Mine development for areas to be mined in 2014 is being undertaken in line with the new stoping methods to be used. The Company believes that significantly better grades can be obtained from those newly developed areas.
Mining and production at Asacha in the first nine months of 2013 is shown in the following table.
1st quarter 2013 | 2nd quarter 2013 | July 2013 | August 2013 |
Sept 2013 | 3rd quarter 2013 | Year to date 2013 | Year to date 2012 | |
Mine development (metres) | 396 | 795 | 217 | 252 | 282 | 751 | 1,942 | 3,160 |
Ore extracted (tonnes) | 45,352 | 47,923 | 10,232 | 13,098 | 15,317 | 38,647 | 131,922 | 90,259 |
Ore processed (tonnes) | 35,585 | 35,298 | 13,235 | 14,477 | 14,229 | 41,941 | 112,824 | 99,084 |
Average gold grade (g/t) | 6.36 | 6.60 | 7.38 | 6.47 | 6.11 | 6.63 | 6.54 | 6.66 |
Average silver grade (g/t) | 9.80 | 10.77 | 10.43 | 11.50 | 10.40 | 10.79 | 10.47 | 12.51 |
Gold recovery rate (%) | 94.52 | 93.58 | 94.72 | 94.66 | 95.52 | 94.95 | 94.39 | 95.48 |
Silver recovery rate (%) | 78.81 | 70.28 | 75.40 | 71.44 | 79.17 | 75.43 | 74.79 | 65.54 |
Gold in dore (oz) | 6,826 | 6,929 | 2,953 | 2,969 | 2,689 | 8,611 | 22,366 | 20,934 |
Silver in dore (oz) | 8,791 | 8,416 | 3,443 | 3,388 | 4,047 | 10,878 | 28,085 | 26,849 |
Gold refined (oz) | 6,833 | 7,117 | 1,389 | 4,190 | 1,727 | 7,306 | 21,256 | 19,773 |
Silver refined (oz) | 8,865 | 8,826 | 1,681 | 5,015 | 1,795 | 8,491 | 26,182 | 25,001 |
TSG intends to report Asacha's fourth quarter 2013 production in January 2014.
Ends
Contacts
TSG |
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Simon Olsen | + 44 (0) 7770 484965 |
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Cantor Fitzgerald Europe | +44 (0) 207 894 7000 |
David Foreman / Stewart Dickson (Corporate Finance) |
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Jeremy Stephenson (Corporate Broking) |
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