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Gruyere gold mine passes one million ounce milestone
Gold Road Resources has provided a three-year mine production outlook for Gruyere gold mine in WA.
According to the company, Gruyere mine has produced one million ounces of gold in less than four years of production, at an average all-in sustaining cost of $1399 per ounce. The company expects Gruyere to deliver 2 million ounces in 2025.
Gold Road’s three-year production outlook projects Gruyere to produce between 335,000 to 375,000 per annum. Production estimates are an increase on earlier years due to higher head grades and improved throughput, thanks to the commissioning of a third pebble crusher in late 2023.
Gold Road also advises that the production outlook requires minimal capital growth.
Gold Road jointly operates and manages the Gruyere mine with its 50:50 partner Gruyere Mining Company. The Joint Venture also completed a feasibility study for Gruyere mine, underpinning the life-of-mine to 2032.
The feasibility study affirmed a sustainable production rate of roughly 350,000 ounces per annum of gold through to 2023.
Additionally, more than three million ounces of mineral resources have been defined, meaning a possible extension beyond the 2023 lifespan.
Gold Road is now turning its attention to the west, focusing exploration efforts on the nearby Golden Highway project.
Golden Highway has a known mineral resource of 14 million tonnes at 1.44 grams per tonne (g/t) gold, for 0.67 million ounces. The project also includes an ore reserve of seven million tonnes at 1.29g/t of gold for an additional 0.29 million ounces.
The Golden Highway deposits extend along a 14km strike length. Feasibility level studies for the Golden Highway resources, including additional ore reserve definition drilling, are programmed for 2023.
Mining at the project is set to commence in early 2026.