Monday, 28th July 2008 (381 views)

Norseman Gold has released its fourth quarter results for gold production at the Norseman gold mine.

For the quarter, the mine produced 21,116 ounces of gold, an 11 per cent increase on the previous quarter.

Total annual production was 77,229 ounces, following a company prediction of between 75,000 and 80,000 ounces.

From this, the Harlequin mine produced 25,632 ounces and the Bullen mine provided 48,800 ounces.

The Norseman gold mine is the longest running in Australia and was acquired by the company in May last year.

Over the past 65 years the mine has produced over 5.5 million ounces of gold. Gold was first discovered at the site in 1894.

A total resource of 1.9 million ounces of gold has been estimated for the mine with an average grade of 4.1 g/t of gold.

The company said it hopes to increase reserves at the mine from 329,000 ounces to a upper limit of 750,000 ounces of gold within two year.

 

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