Updated: 7 hours ago
November 7, 2019, Vancouver, B.C. —Para Resources Inc. (the “Company” or “Para”) is pleased to announce that on November 5, 2019, the Gold Road Project successfully smelted and poured a 380.0 ounce doré bar containing 220.8 ounces of gold.
Ian Harris, President of Para Resources, stated, “The production of a doré bar is a significant milestone for Gold Road, confirming the production cycle from mine to bar can be completed successfully. The doré bar and in-circuit inventory balances with the last nine days run of the Gold Road Mill. We look forward to increasing bar size now that plant in-process inventory has been established, and mine continues to add additional mining faces and convert to stope mining, which will produce higher grades due to lower dilution.”
The Company also announces that the first of two Alimak machines have been delivered to the site and will be installed this month. The second Alimak is scheduled to be installed in early Q1 2020. The Alimaks will open two new production raises that will give the mine access to the higher-grade material and improve airflow to the lowest levels of the mine.
The Company expects to produce a doré bar 2-3 times per month, ramping up to 2,500-3,000 ounces of Au per month during Q1 2020.
A copy of this news release can also be found on our SEDAR profile.