Lamaque readying for start

With commissioning now underway, Eldorado Gold confirmed in its full-year earnings results that it is on schedule to commence commercial production from its newest operation, Lamaque, in the March quarter
Lamaque readying for start Lamaque readying for start Lamaque readying for start Lamaque readying for start Lamaque readying for start

Lamaque has a projected mine life of seven years

Officials said the underground gold operation in Val-d'Or, Quebec, Canada, realised strong pre-commercial production for the last three months of 2018 - a strong support for a combined production of 75,877oz.

The company's combined output for last year totalled just over 349,000oz, well exceeding its 290,000-330,000 gold ounce target. The year prior, Eldorado's production total was just under 76,000oz.

"In 2018, Eldorado successfully met its overall production goals, which included two upward revisions to production guidance," president and CEO George Burns said.

"These positive results reflect solid execution by the team and better-than-expected leach-pad production at Kisladag. In addition, underground mine development and refurbishment of the Sigma mill at Lamaque proceeded according to plan, and we expect to commence commercial production at Lamaque in the first quarter of 2019."

Lamaque, which is 100% owned by Eldorado, has measured and indicated resources of 1.3 million ounces, with a further 1.3 million ounces of inferred resources. It is projected to produce about 117,000oz annually over a seven-year mine life.