Larvotto Resources (ASX: LRV)

Advised the first antimony concentrate shipment has departed the Company’s 100%-owned Hillgrove Mine in New South Wales.

The first shipment of 68 tonnes of antimony concentrate has commenced with delivery to the Company’s antimony offtake partner Wogen Resources at the mine gate.

 

 

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	Larvotto Resources	ASX: LRV
	Stage	Development
	Metal	Gold, Antimony
	Market cap	A$437 m   @ A$0.84
	Location	Australia
	Website	www.larvottoresources.com

 

 

 

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Larvotto Announce First Concentrate Shipped from Hillgrove Antimony-Gold Mine

 

 

 

Larvotto Resources Limited (ASX: LRV), (‘Larvotto’ or ‘the Company’) is pleased to advise the first antimony concentrate shipment has departed the Company’s 100%-owned Hillgrove Mine in New South Wales.

The first shipment of 68 tonnes of antimony concentrate has commenced with delivery to the Company’s antimony offtake partner Wogen Resources at the mine gate.

Having satisfied a condition of the offtake agreement, the Company will receive an initial payment for the delivery.

 

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Highlights

• First shipment of antimony concentrate has commenced with the first truck leaving site today
• Concentrate collected at the mine gate by offtake partner Wogen Resources, satisfying a delivery condition for part-payment under the offtake agreement
• Production ramp-up continues to improve, with plant availability exceeding schedule, processing tonnages increasing and ongoing improvements in concentrate grades
• First gold concentrate shipment being prepared
• Tungsten extraction testwork continues to highlight positive results
• Hillgrove Mine to produce approximately 4,900 tonnes of antimony and 40,500 ounces of gold per annum

 

 

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Comment from Ron Heeks, Managing Director:

“The delivery of the first antimony concentrate is a proud moment for the Company, as Hillgrove becomes a revenue generating mine and officially Australia’s newest supplier of critical minerals.

 

“As the first of the three products the plant produces, the focus has been on the antimony circuit. With the antimony circuit now operating at a steady rate, we will broaden our focus to optimise gold concentrate and gold doré production.

 

“The ramp-up of the plant is progressing well, with availability, processing tonnages and concentrate grades continuing to improve as the team refines the performance of the plant.

 

“The progress of the production reflects the wonderful, combined efforts of the processing and mine teams in commissioning and optimising the plant.

 

“This is a key milestone for Australia’s critical mineral and mining sector and is also significant for the New England region, supporting local jobs, businesses and economic activity.

 

“We all look forward to the shipment of first gold concentrate and production of the first gold bars in the near term.”

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To read the full news release please click HERE

 

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To view Larvotto’s latest share price and chart, please click HERE

Orla Mining Ltd. (TSX: OLA)

Announced that the Company has poured gold from its Camino Rojo Oxide mine  located in Zacatecas State, Mexico.

Orla has achieved first gold pour at Camino Rojo, which is an important milestone in the rapid evolution of the Company, explorer to producer.

 

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Orla Mining	TSX : OLA
Stage	Development
Metals	Gold
Market cap	C$1.26 Billion   @ C$5.09
Location	Zacatecas, Mexico + Panama

 

 

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VANCOUVER, BC – December 14, 2021 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is excited to announce that the Company has poured gold from its Camino Rojo Oxide mine (“Camino Rojo”) located in Zacatecas State, Mexico.

The first pour occurred on schedule on December 13, 2021. Three bars were poured with a total weight of 1,278 ounces containing approximately 770 ounces of gold and 510 ounces of silver. The Company is planning additional pours during the remainder of 2021.

 

Orla Mining management comments

“Orla has achieved first gold pour at Camino Rojo, an important milestone in the rapid evolution of our Company.

 

“This accomplishment is the result of the hard work and diligence of the entire team, and we are incredibly proud.

 

“This team includes our employees, our consultants, and our contractors directed by Camino Rojo’s EPCM, M3 Engineering & Technology Corporation.

 

“In less than two years, we have permitted, financed, and constructed our first project, while maintaining the health and safety of our workforce.

Jason Simpson, President and Chief Executive Officer, Orla Mining

 

“I would like to thank Orla’s team led by Jason Simpson, Chief Executive Officer, Andrew Cormier, Chief Operating Officer, Etienne Morin, Chief Financial Officer, and Sergio Saenz, General Manager of Camino Rojo, for the outstanding work and dedication that has enabled this achievement in the face of unprecedented challenges brought by the COVID-19 pandemic.

 

“We all now look forward to the sustainable value this mine will bring to the local communities, and to the next steps in the growth and success of the Company.”

Chuck Jeannes, Chairman of the Board, Orla Mining

 

Next steps

Commissioning and operational ramp-up will continue during the month of December and during the first quarter of 2022. Mining and processing tonnes and grades have been meeting expectations thus far and commercial production is targeted for the end of the first quarter of 2022.

As the Company approaches commercial production, operational guidance for 2022 will be provided.

During the month of November, the Company mined a total of 466,215 ore tonnes at an average grade of 0.65 g/t Au and crushed and stacked a total of 374,976 tonnes on the heap leach pad.

Year to date November 30, 2021, the Company mined a total of 1,589,994 tonnes of ore at an average grade of 0.72 g/t Au and crushed and stacked a total of 750,564 tonnes.

Several images highlighting the first gold pour at the Camino Rojo Project are shown below:

CAMINO ROJO MINE FIRST POUR PHOTOS

Figure 1: Camino Rojo First Pour

Figure 2: Camino Rojo Dore Bar 001

 

 

For brevity, this summary has been redacted, to read the full news release, please click HERE

 

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Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

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Disclosure

At the time of publishing the author holds shares in Orla Mining, bought in the market at the prevailing price on the day of purchase .

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