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Precious Metals

Crater Gold begins stoping at HGZ

Gold bars

Crater Gold Mining has commenced stoping within the central high grade gold block at the High Grade Zone (HGZ) project at Crater Mountain, Papua New Guinea.

The company expects the mining rate and the recovered gold grade will increase with stoping now underway.

The mining focus has now switched from development and exploration to stoping of the high grade gold block from the 1,960m level up.

Recent gold production has been predominantly from development material on 1,980m level including material beyond the limits of the central high grade block to confirm the interpretation of the zone and to ensure that high grade gold would not be left behind when stoping began.

While the current focus is on the HGZ mine, there remains potential to increase the JORC compliant resource of 24Mt at 1.0 g/t Au for 790,000 ounces at the nearby mixing zone project at Crater Mountain.

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Paul

The author Paul