Best Month Since Acquiring Morila In Late 2020
Firefinch Limited (ASX: FFX) has achieved record production figures from the Morila Gold Mine in Mali for the month of June 2021, and the recently completed quarter (April to June 2021).
Production of 5,019 ounces of gold in June is a new monthly high since Firefinch acquired Morila late last year and represents a 21% increase over the previous highest monthly gold production.
Production is benefitting from the processing of run of mine ore from Morila Pit 5, which commenced in early May and which has been supplementing the last few months of material from tailings retreatment.
The increasing proportion of higher-grade satellite ore being fed to the plant (versus lower grade tailings material) has also led to a significant improvement in recoveries (up from approximately 50% on tailings only to 75% on ore and tailings combined). A further step change is expected once mining of the Viper Deposit commences in a few weeks’ time.
Processing of material from the satellite pits has been made possible by the successful refurbishment and recommissioning of the comminution circuit.
Since recommissioning, the circuit has averaged annualised throughput rates of approximately 3Mtpa, however, significantly higher throughput rates (up to the equivalent of 4.5Mtpa) have been achieved on an instantaneous basis.
Firefinch Managing Director, Michael Anderson, said on the basis of the expected increase in run of mine satellite ore feed, a full quarter of processing through the refurbished circuit and the improved recoveries which have been achieved, production guidance for the upcoming quarter (July to September 2021) has been increased to 13,000 to 15,000 ounces of gold.
“These latest production figures clearly demonstrate the benefits of recommencing mining and processing of the satellite ores,” Mr Anderson said.
“We expect the positive trend in production to continue as we access Viper and enjoy a full quarter of operating the successfully recommissioned processing circuit. The team on site deserve tremendous credit and it was clear from our recent visit to site that everyone is committed to delivering on Morila’s obvious potential.”
For further information please visit: https://firefinchltd.com/
