The Henty gold mine in Tasmania has exceeded annual production guidance, which owners Catalyst Metals says is solid evidence of the success of its growth strategy at the site.
Production for the June 2022 quarter totalled 6755 ounces of gold from 56,672 tonnes processed at a head grade of 3.9g/t gold and recovery of 94.1 per cent, contributing to an annual figure of 25,199oz, over the guidance of 25,000oz.
In light of the strong results on both the exploration and production fronts, Catalyst aims to reach an annualised gold production rate of 35,000oz by the June quarter of 2023.
Other pleasing aspects of the operation’s quarterly performance were an increase in the development (728 metres compared to 578m in the previous quarter) and diamond drilling rates (14,240m compared to 9449m in previous quarter) — two important indicators to Henty’s future success.
Catalyst Metals chief executive officer John McKinstry said the company was increasing mining inventory through an aggressive drilling campaign and there was a solid trend of production growth.
“Importantly, this is capital-efficient growth because it is being achieved for a relatively small cost,” he said.