Monday, 10th March 2008 (2529 views)

Exploration and development firm Uruguay Mineral Exploration (UME) has confirmed that gold production from its properties in the South American country were 25,150 ounces of gold for the third quarter of the 2007-08 financial year.

The company, which operates the San Gregorio gold mine in northern Uruguay, said latest figures brought its total production for the nine months to the end of February 2008 to 69,931 ounces of gold.

UME added that its production target for the current financial year remains 95,000 ounces of gold.

It also announced plans to issue a full review of all its mining and exploration activities when it publishes its third quarter results, which are slated for April 2008.

San Gregorio is located within the Minas de Corrales mining district, which has produced over 800,000 ounces of gold to date.

In addition to its mining activities, UME currently spends $9 million (£4.46 million) a year on exploration in Uruguay. Its projects include gold, diamond and base metal projects throughout the country.

 

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