Doray Minerals Limited (“Doray” or “the Company”) (ASX: DRM) is pleased to announce record monthly gold production from the Deflector underground mine. Mining and processing of the primary ore began in May 2017 and the Company is pleased to have achieved steady state production levels ahead of schedule.
The mine produced a total 5,895oz gold in November 2017 exceeding the previous record of 5,050oz gold in October 2017.
Figure 1. Deflector monthly gold produced.
The improvements are a result of ongoing initiatives introduced during the year to optimise Deflector. As the mine has been ramping up, improvements have been made across the board and include increased working headings, increased production from stopes compared to ore driving, higher head grade, higher mill throughput, improved plant recoveries and a positive reconciliation of total metal mined.
As underground mining has progressed during the financial year, additional ore bearing structures have been delineated in the Western Zone. This has resulted in greater reconciled metal mined compared to the Ore Reserve during this period, with 12% more gold and 31% more copper. In conjunction with the increased gold production, this additional copper production (combined with the current higher than budgeted copper price) is having a significant positive impact on the cash flow of the operation. Copper is producing approximately 25% of the revenue at Deflector.
Figure 2. Deflector monthly copper produced compared to budget.
Managing Director, Mr Leigh Junk said “The team at Deflector have done an excellent job with continuous improvements resulting in the operation performing at the level where it needs to be. There is genuine momentum at Deflector now and we are looking forward to a strong second half of the financial year”.