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Gold Road Resources and Gold Fields have achieved commercial production at the Gruyere gold mine in Western Australia.
The joint venture reached the milestone slightly ahead of guidance, midway through the anticipated ramp-up period of six to seven months.
Gruyere's ramp-up started in early August, after commissioning of the ball mill.
Since gold recoveries during ramp-up have already been above expectations, 2019 gold productions Gruyere is anticipated to be at the upper end of the 75,000 ounces to 100,000 ounces guidance.
Gruyere management determined commercial production based on a minimum total process plant output of 70 per cent nameplate capacity.
With a minimum average gold recovery of 85 per cent of expected life of mine metallurgical recovery, management also expects these metrics will continue to be met or exceeded moving forward.
The all-in sustaining cost (AISC) for the December 2019 quarter is estimated at between $1050 and $1150, slightly above the forecasted $1025.
Currently, life-of-mine average production is estimated at approximately 300,000 ounces per annum. Further AISC reports will take place soon now commercial production is under way.
Discovered by Gold Road in 2013, Gruyere is one of Australia’s most exciting gold discoveries over the past decade and promises a 13-year mine life.
Located about 200 kilometres east of Laverton, Gruyere was one of Australia’s largest undeveloped gold deposits when it was discovered.