Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Bullion has fallen six days in a row and is set for a weekly loss of more than 4%.
Antioquia Gold of Calgary has announced the successful start of production at its Cisneros gold mine 80 km northeast of Medellin, in Antioquia. Commissioning the mill began two months ago and has now reached the planned commercial rate of 500 t/d.
The mineralized material fed to the mill during the ramp up was obtained from the stockpile of development ore from the Guayabito and Guaico veins. That material has a lower grade that anticipated from Cisneros.
The Cisneros project has measured and indicated resources of 728,604 tonnes grading 5.39 g/t gold and containing 122,129 oz. The inferred resource is 536,211 tonnes at 6.35 g/t gold and containing 109,388 oz.
Antioquia set 2019 guidance at 39,000 oz. of gold.
This article first appeared in The Canadian Mining Journal.
