Eldorado to produce more Gold over 130K Oz
Eldorado Gold Corporation announces updates on Kisladag metallurgical test work, its expansion plans at Lamaque and its Greek projects. Kisladag metallurgical test work is advancing well with the majority of test results now expected to be completed prior to year-end 2019. IBRT tests are indicating that with the longer heap leach cycle of 250 days, gold recoveries are trending over 50%.
The preliminary results, utilizing the IBRT metallurgical test work, are indicating a possible mine life extension beyond the current three year guidance. The Company expects to be in a position to determine the most economic path for the development of Kisladag by the end of Q1 2020.
The Company is evaluating an expansion at its Lamaque project, which would be designed to increase throughput from an average of approximately 1,800 tonnes per day to 2,500 tonnes per day and increase average annual production from approximately 130,000 ounces of gold to approximately 170,000 ounces of gold.
Eldorado is working on a Preliminary Economic Assessment for this expansion, which will include inferred resources up to and including the C7 shear zone at the Triangle deposit and is scheduled to be completed in Q4 2019. Subject to the results of the Preliminary Economic Assessment, the Company will begin a Prefeasibility Study on the Lamaque expansion, which is expected in 2H 2020.
