Australian exploration company ABM Resources announced that mining has been completed on schedule at the Old Pirate gold mine.
ABM said that the December 2015 mine plan for Old Pirate forecast gold production of 12,000 ounces for the period from 1 December to mine closure and provisional results indicate that this target has been marginally exceeded.
“Processing at the Coyote plant is expected to be completed within the first half of April 2016, after which all gold bearing material will be recovered from circuit and the plant placed on care and maintenance,” the company said in a statement to the ASX.
“Final gold recovery and reconciliation will be completed in May 2016 with the off-site stripping of loaded carbon.”
The Old Pirate high-grade gold project consists of a series of gold-bearing quartz veins with an overall strike-length of approximately 1.8 kilometres.
Veins range from a few centimetres to zones greater than 6 metres in width with individual veins varying in grade and width along strike. Quartz veins are both parallel with stratigraphy, preferentially following shale horizons in an overall anticline structure, and also cross-cut stratigraphy following shear-zones and other structures.
Gold is characterised as both, fine and coarse, and has a high statistical nugget effect whereby low-grade drillhole intercepts can often be located within known high-grade structures.