Firefinch reports record gold production from Morila
(Kitco News) - Firefinch (ASX: FFX) today announced record monthly and quarterly gold production from the Morila gold mine in Mali.
The company said that record monthly production of 5,019 ounces of gold achieved in June represents Firefinch’s best month since acquiring Morila in late 2020 and a 21% increase on the previous highest monthly gold production.
Quarterly production for the period April to June 2021 of 12,555 ounces is also a new high and towards the upper end of previous guidance (11,000 to 13,000 ounces).
Firefinch explained that gold production now benefitting from the recommencement of mining at the satellite pits, and the successful refurbishment and recommissioning of the comminution circuit. Treatment of an increasing proportion of satellite ore (versus tailings material) has led to a significant increase in recoveries; up from approximately 50% to 75%.
These positive trends are expected to continue in the upcoming quarter as mining at the satellite pits is extended to include material from the Viper Deposit, the company added. Quarterly production guidance for the period July to September 2021 is 13,000 to 15,000 ounces of gold.
Firefinch is a gold miner and lithium developer. Firefinch has an 80% interest in the Morila gold mine and currently owns 100% of the Goulamina lithium project, both in Mali.