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Saracen Mineral Holdings Announces Record December 2012 Quarter Gold Production

25 Jan 2013  |  12:15:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Record December Quarter Gold Production

Saracen Mineral Holdings announced record December 2012 quarterly gold production of 32,038oz at a cash cost of $951/oz (excluding royalties) from processing 614,698t @ 1.81g/t, the highest quarterly average grade since operations commenced early in 2010. In addition, record production of 12,967oz was achieved in the month of December at $760/oz (excluding royalties). Gold production is on track for 125,000 to 135,000 ounces in 2012-13. The company also reported that a total of 11,906m of RC drilling was completed in 114 holes; a new greenfields prospect, Blue Manna, located 12km north of the Carosue dam plant, was discovered with significant intersections 13m @ 3.3g/t from 20m and 10m @ 6.1g/t from 19m. More drilling is planned; and follow up drilling at Pinnacles intersected 5m @ 10.5g/t, with more drilling planned.

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