Signature Metals pours first gold at Ghana mine
Signature Metals Limited, an Australian based minerals exploration company, has announced the production of first gold at its Konongo Gold Project, located in the Ashanti Gold Belt of Ghana.
Signature says the first bars were poured as part of commissioning the elution circuit and gold room, representing the final area of the processing plant to be brought back into operation.
According to the company, it is now on ramping up production to achieve the rated throughput of 350,000 tonnes per annum and moving into continuous commercial production.
“The pouring of gold is an important milestone in the company’s efforts to maximise the potential contained within the Konongo Gold Project”, it said.
The Konongo Project comprises 192km2 of tenure along the world class Ashanti Gold Belt but has only had limited exploration in modern times.
The company is currently drilling onsite and revenue from production will be used both for further exploration as well as to progress the plant expansion, Signature indicates.
“To be pouring gold within 2 years of commencing work at Konongo is a fantastic achievement”, Bill Oliver, Signature’s Managing Director said.
On March 10, 2011, the company was seeking to raise $16 million from a rights issue and placement in order to continue the exploration and development of the Konongo Gold Project in Ghana.
By Ekow Quandzie