Gold-Silver Production At Rodeo Mine
GOLDEN, CO - Golden Minerals Company reported that on its Rodeo gold-silver mine in Durango State, Mexico, 1,559 gold equivalent ounces produced in gold-silver dore while ramping up production in the quarter. 1,054 gold equivalent ounces of dore sold in the first quarter, and on track for annual production of 12,000 to 14,000 ounces gold in 2021. Golden began mining activities at the Rodeo site in December 2020, followed by the commencement of processing operations in mid-January 2021 at a rate of approximately 200 tonnes per day (tpd). The mine was brought online approximately two weeks ahead of schedule and on budget.
The Company has completed installation of a second regrind mill circuit at the oxide plant where Rodeo’s gold-silver material is processed. As previously communicated, this regrind circuit has been specifically designed to allow increased throughput for the harder material coming from the Rodeo mine. Installation occurred within two weeks of its intended March 31, 2021 target date. The new circuit is expected to enable an increase in production to Rodeo’s planned run rate of around 450 tpd, which the Company anticipates reaching in May 2021. This ramp up schedule is approximately four to six weeks longer than originally planned due to delays in final installation adjustments and replacement of a VFD (variable frequency drive) controller. However, the grinding characteristics of the Rodeo mineralized material are more favorable than predicted, which should allow us to increase throughput beyond the 450 tpd rate initially planned.