Crocodile Gold Reports 26% Rise in Quarterly Production
Crocodile Gold (CRK.TSX) announced third quarter gold production of 45,963 ounces, a 26% increase over the second quarter of this year. The Company noted that the improvement was a result of the combination of an 8% increase in processed throughput and a 17% increase in average gold grade.
Highlights:
* For the nine months ended September 30, 2012, Crocodile Gold has produced 93,376 ounces of gold
* The Company reported high-grade intersections at its Fosterville Gold Mine in the State of Victoria, Australia
* At the Cosmo Mine in the Northern Territory of Australia, development and production ramp-up continued with an average of 671 meters per month during the quarter and achieving over 40,000 tonnes of ore production in September
* Crocodile Gold intends to conclude updated resource estimates for a number of deposits in the Northern Territory by the end of the first quarter of 2013
Chantal Lavoie, President and CEO of Crocodile Gold:
“The third quarter results demonstrate our continued growth since the beginning of the year as we concentrate our efforts on better quality ore sources in the Northern Territory (Cosmo Mine) and realize the full benefit of our new assets at Fosterville and Stawell during the quarter.”
Company Management:
“Excellent progress was made on key projects, which will position us well for continued profitable production growth in 2013.”
2012-10-15 18:09:03
Source: http://www.goldalert.com/2012/10/crocodile-gold-reports-26-rise-in-quarterly-production/
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