Hillgrove Resources provides Kanmantoo copper mine updates for April 2012 May 3, 2012Posted by Fortbridge in Mining.
Tags: April updates, hillgrove resources, Kanmantoo Copper Mine
Hillgrove Resources Limited (ASX: HGO) is pleased to provide shareholders with the following update for operations at the Kanmantoo Copper Mine during the month of April 2012.
This information is intended to highlight progress at the recently commissioned mine during the first months of operations, and is intended to supplement the Company’s Quarterly Report disclosure program, during ramp-up of the mine to full production.
- Early payment was received for 2,850 dry metric tonnes (dmt) of copper concentrate in the month, for total revenue of USD4.3 million received, with a further 1,976 dmt unsold stockpile at port and 308 dmt of concentrate in the shed at Kanmantoo.
- 161k dmt crushed, representing 80.5% of design annual throughput rate of 200k dmt per month. Crushing for the month was adversely affected by overall crusher downtime, including the new mobile crusher.
- Average crushing rate achieved when operating was 365 dry metric tonnes per hour (dmtph), representing 88.8% of design of 411 dmtph. The mobile crusher has reduced downtime and improved throughput through the month.
- 153k dmt milled, representing 76.5% of annual throughput rate of 200k dmt per month. Average milling rate achieved was 251 dmtph, representing 83.7% of design throughput of 300 dmtph. Mill throughput was maintained at this level throughout the month to align with crushed ore availability from the stockpile.
- 3,596 dmt of copper concentrate was produced, grading 24.1% Cu, 3.1 g/t Au and 64.0 g/t Ag.The concentrate grade moved to be in line with DFS expectations. The reintroduction of the regrind mill and an additional cleaner cell into the flotation circuit in the last week has lifted concentrate grades to 27-28% with no loss of recovery – an excellent result.
- Feed grade averaged 0.62% Cu for the month, approximately 18% down on expectations of 0.76% Cu. This was mainly a function of recovering any previously crushed ore available, including from low-grade stockpiles and base.
- Copper recovery through the plant averaged 91.3%, notwithstanding the lower feed grade, indicating good progress towards optimising plant performance. The second shipment of 5,163 dmt of concentrate left Port Adelaide for China on 28 April 2012. The third concentrate shipment, of approximately 10,000 dmt, is planned for June 2012.
- Exploration drilling at Kanmantoo continued its focus on increasing Resources (after last year’s program directed at Resource to Reserve conversion), and continues to be very encouraging. Work is continuing on an updated Resource statement, now expected by the end of May.
For further information, please contact:
Hillgrove Resources Limited
Level 41 Australia Square Tower
264 George Street, Sydney NSW 2000