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Great Panther Makes Positive Production Decision for Coricancha

Mining News - Published on Thu, 11 Jul 2019

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Great Panther Mining Limited announced that it has approved a positive production decision for its 100% owned Coricancha gold-silver-lead-zinc-copper mine in Peru. The decision was based upon the final results of the trial stope and bulk sample program, which confirmed the key operating assumptions for Coricancha contained in the Preliminary Economic Assessment and detailed in the Company's

Mr James Bannantine, President and CEO, said that "We are pleased with the results of the BSP and look forward to advancing Coricancha towards commercial production. The actual restart date is expected in the first half of 2020 and will be aligned with our other mining operations to ensure the project has the necessary planning and resources in place to optimize operations and profitability. Coricancha is expected to produce approximately 40,000 gold equivalent ounces annually and will be an important addition to Great Panther's production portfolio going forward."

Highlights of the BSP

The BSP utilized an overhand cut-and-fill mining method to mine an average vein width of 40 cm. The mining widths experienced during the BSP were between 94 – 110 cm. The PEA assumed a minimum mining width of 90 cm for vein widths of less than 50 cm.

The BSP achieved development rates in the range of 3.2 m/day, which were consistent with the development rates assumed in the PEA (3.0 m/day).
Metallurgical recoveries of the BSP were 90.3% Ag, 76.0% Au, 85.7% Pb and 82.9% Zn. These recovery levels are in line with those in the PEA.

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Posted By : Sanju Moirangthem on Thu, 11 Jul 2019
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