Tuesday, 7th December 2004 (2506 views)

Glamis Gold has announced its first gold pour at its new El Sauzal mine in Mexico on November 30th.

Around 1,500 ounces of gold have now been shipped from the mine for refining and sale.

The mine is currently producing approximately 600 ounces of gold per day and a gold inventory of around 5,000 ounces has been established.

Gold recovery is exceeding the 93 per cent rate predicted in the feasibility study.

Glamis anticipates that 2004 gold production from El Sauzal will be approximately 25,000 ounces.

Kevin McArthur, President and Chief Executive Officer of Glamis said, "I would like to thank the entire Glamis development and operations team for the outstanding job at El Sauzal. This team has built the Company's largest and most profitable gold producer - a real source of pride to the Company, the surrounding communities and our workforce in Mexico.

"We fully expect to reach our 2005 production target of more than 170,000 ounces of gold in 2005," he added.

 

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