KIRKLAND LAKE – St Andrew Goldfields Taylor Mine project is now in commercial production and will increase the company’s gold production.
With the acceptance of the Taylor Mine closure plan the company has three gold producing mines in operation.
“We are pleased to declare Taylor the newest mine in Ontario, one which we anticipate will bolster the company’s gold production profile for 2016 by 40,000 – 50,000 ounces and provide much needed jobs and economic benefits to the communities in the region. I would personally like to thank the SAS team, the provincial government officials, the First Nations and our communities for their hard work and support in helping us bring Taylor into reality.
The mine is expected to be a significant contributor in the future as we are ramping up to full production by the end of this year,” said Duncan Middlemiss, President and Chief Executive Officer. “With the addition of Taylor to the portfolio of producing assets, we are also pleased to raise our 2015 full year production guidance to between 100,000 and 110,000 ounces of gold with the Taylor contributing 10,000 to 15,000 ounces of gold for the balance of 2015.
The company reports at the end of the third quarter the Holt and Holloway mines have produced 70,578 ounces of gold and are on schedule to meet the top end of the company’s previous production guidance of between 85,000 and 95,000 ounces of gold. St Andrew has revised its production guidance for these mines to between 90,000 and 95,000 ounces of gold.
The Taylor property consists of 28 wholly owned patented, mineral leases and mineral claims in the south central part of Taylor Township, covering 1,542 hectares. The property is located 53 kilometres east of Timmins and is easily accessible by road.
The Taylor property consists of three defined mineral deposits immediately south of the Porcupine Destor Fault Zone. The shaft zone is on the eastern side, the west porphyry zone, which contains the majority of mineral reserves and resources, is in the middle of the property and the shoot zone is situated on the west side of the property. The company says exploration potential on each of the zones is excellent. The zones remain open along strike and at depth.
At the end of 2014 St Andrew Goldfields processed a 17,540 bulk sample from the 104 lens at Taylor. This sample had an average head grade of 9.01 grams gold per tonne and a mill recovery rate of 97.4 percent.
During the third quarter St Andrew phased out contracted mining operations and has since added $6.2 million in mining equipment and hired an addition 60 employees.
For the original source, click here: http://www.northernnews.ca/2015/11/05/taylor-mine-is-the-newest-mine-in-ontario