Western Australian gold producer, Millennium Minerals Limited, has advised that its 100 per cent owned Nullagine Gold Project in the Pilbara region has just achieved the upper-end guidance for the September quarter with gold production of approximately 22,414 ounces.
The strong result, which represents a 77 per cent increase in ounces produced in comparison with the June quarter result (12,639 ounces), puts the company on track to hit the upper end of its guidance of 75-80,000oz for CY18. This increase in gold production is likely to be attributed to a higher average head grade as the new Bartons underground mine and higher-grade open pit ore sources come on stream, which is supported by an increased mining rate and materially improved mill throughput.
This will enable Millennium to achieve its long-held target of an annualised production rate of 100,000 ounces per annum during September, ahead of the original target for the December quarter.
Millennium’s Chief Executive Peter Cash commented that the strong quarterly result showed the company was continuing to deliver on its strategy of becoming a consistent 100,000 ozpa Australian gold producer.
“The September quarter marked a key turning point in Millennium’s history, with the achievement of a 100kozpa production run-rate reflecting the success of our strategy of targeting larger, more sustainable ore sources at Nullagine and introducing higher grade ore to the plant,” Mr Cash said.
“Importantly, this is not a one-off but reflects the achievement of a new sustainable long-term production rate, driven by the quality of the ore being delivered across all of our mining centres and significant improvement in our mining rate and milling performance,” he said.
More information on the Nullagine Gold Project can be found here.
