Crater Gold Mining Ltd.said May 3 that it has installed and commissioned its new custom-made at its HighGrade Zone mine at Crater Mountainin Papua New Guinea.
"This marks an important milestone for the company as we transitionfrom a developer to a gold producer. This newly installed processing plant enablesus to work towards full production in the near term and is expected to deliver strongcash flows on high margins going forward," said Russ Parker, Crater Gold'smanaging director.
"This in turn will allow us to fund further development at the [HighGrade Zone] mine and exploration activities at our other assets," Parker added.
The company's recent discovery at the South Artisan Workings zone also highlightsthe potential for additional mineralization close to the High Grade Zone mine anda potentially longer mine life operation, Parker said.
Parker also said there is still potential to increase the company's currentJORC-compliant resourceof 24 million tonnes at 1.0 g/t of gold for 790,000 ounces at the nearby MixingZone project at Crater Mountain.