Eldorado Gold Corporation, (“Eldorado” or “the Company”) is pleased to announce that it has achieved commercial production at its wholly owned Lamaque mine (Lamaque) in Quebec as at March 31, 2019.
Lamaque produces ore from the Triangle-deposit, which is then processed at the refurbished Sigma Mill.
With an initial mine life of approximately seven years, Lamaque is forecast to produce 100,000-110,000 ounces of gold in 2019. Production is expected to increase to 125,000-135,000 ounces of gold in 2020 and 2021. In 2018, the Inferred Resources at Lamaque were increased by over 50%, and further drilling is currently ongoing to increase both the reserves and resources. With over 37,000 meters of exploration drilling budgeted for 2019 and excess capacity at the Sigma Mill the Company is well positioned and focused on optimizing the potential of the Lamaque mine.
Eldorado’s Chief Operating Officer, Paul Skayman, stated: “We are proud to announce the achievement of this important milestone just over 18 months after acquiring this asset. It is a testament to all of the hard work that has gone into the exploration, pre-feasibility study, engineering and construction that we have safely delivered commercial production ahead of schedule. I would like to thank everyone who worked on this project, especially Sylvain Lehoux, Lamaque General Manager, and the rest of the team at site.”
Source: Company Press Release