Canadian company exports first gold doré bar from Paraguayan mine
Latin American Minerals Inc., Lampa, announced on Wednesday the delivery of the first gold doré bar produced at its Paso Yobai Gold Project pilot plant in Paraguay, to the Johnson Matthey Ltd. gold refinery in Brampton, Ontario.
The delivery of the first gold bar to a refinery represents a milestone achievement for the Independencia Mine pilot plant. We've shipped this doré during Paso Yobai's commissioning stage in order to validate pyrometallurgical protocols and to assure minimum refinery specifications for future product”, said Miles Rideout, President and CEO of the Company.
According to the refinery assays, this bar contains 166 ounces of gold and 47 ounces of silver, valued at approximately 276,000 US dollars. This represents a doré of 76.74% gold, 21.75% silver and approximately 2.5% benign impurities, which is well below refinery penalty levels.
“Our first production test is a success. Congratulations to our Paraguayan team, underlined Miles Rideout.
The Independencia Mine pilot plant was constructed on the Paso Yobai Gold Project to provide a bulk testing facility to assist in quantifying the resource potential of this large epithermal gold system.
The plant is currently processing gold mineralization excavated to 20m depth from the Discovery Trend Target, where mineralization is exposed at surface and has been drilled to greater than 100m depth.
Current Independencia Mine and pilot plant activities include open pit development, up-scaling of the onsite assay laboratory, optimization testing of the Falcon gravity concentrators and the installation of a production-scale pyrometallurgical furnace.
The Paso Yobai Project is a 15,551 hectare exploration and mining property with multiple gold showings evident at surface. Lampa is operating the Independencia Mine Pilot Plant on the Company's 99%-owned permitted mining concession, part of the Company's larger Paso Yobai Gold Project.
Lampa started working four years ago in the midst of serious conflicts with local residents and miners with an original investment of 12 million dollars. Production officially commenced last February.