Mining Minutes
Continental: Construction Of Buriticá Project 44% Finished
Continental Gold Inc. (TSX: CNL) reports that its Buriticá project in Colombia is more than two-fifths completed. The project remains on schedule, with expected construction completion and first gold pour in the first half of 2020, Continental says, adding that commercial production ramp-up is still anticipated approximately six months after the first gold pour. Overall construction is 44% complete with detail engineering more than 93% advanced, the company reports. Underground development is 44% complete with 6,274 meters finished to date. An updated mineral resource estimate remains on schedule for completion in the first quarter of next year, and an updated mine plan incorporating changes to the mineral resource estimate will follow shortly after, Continental reports. “We are moving ahead quite briskly, with numerous construction activities taking place simultaneously and, now that we have selected the project’s general contractor, we will be starting major mechanical installations in earnest in Q1 2019,” says Donald Gray, chief operating officer. “Also, our underground development continues to consistently track ahead of schedule.”
By Allen Sykora of Kitco News; asykora@kitco.com
Iamgold Reclassifies Some Reserves At Côté Project
Tuesday November 27, 2018 08:18
Iamgold Corp. (TSX: IMG; NYSE: IAG) has reclassified 376,000 of the reserves for the Côté gold project in northern Ontario as proven and probable reserves. These now stand at 4.138 million contained ounces under the base-case mine plan, or 4.716 million for the extended mine plan. In conjunction with filing a National Instrument 43-101 technical report, the company also announces that it has received the final cash payment from Sumitomo Metal Mining Co., Ltd. of $95 million related to SMM’s purchase of a 30% interest in the project.
