Gascoyne exceeds own throughput expectations

Gascoyne produced 19,203 ounces of gold for the quarter at the Dalgaranga gold project in Western Australia, bringing the company’s total for the 2021 fiscal year to 59,899 ounces.

The production seen over the March quarter broke a streak of three consecutive quarters with over 20,000 ounces in production.

Gascoyne managing director and chief executive Richard Hay said the company was happy with its progress to begin the new year.

“We are very pleased to have added another solid quarter of production with excellent cashflow and costs to remain on track to meet the upper end of production guidance for (the 2021 fiscal year) of 70,000-80,0000 ounces, at an all-in sustaining cost of $1200 to $1300 per ounce,” Hay said.

Gascoyne was pleasantly surprised by the good work of its processing plant, according to Hay.

“The processing plant continues to exceed design capacity whilst maintaining a very low cost per tonne,” Hay said.

The plant saw a 92.5 per cent recovery rate with a throughput of 704,000 tonnes for the quarter.

This was much higher than the previous quarter, which saw 668,000 tonnes.

The March quarter throughput amounts to 2.8 million tonnes a year, which is unexpectedly above the nameplate capacity of 2.5 million tonnes a year.

Gascoyne continues its exploration activities in the region surrounding Dalgaranga following a jump in the company’s budget.

“Our (2021 financial year) exploration budget was doubled during the quarter and early drilling success at Tanqueray was a highlight, with an intersection of nine metres at seven grams per tonne,” Hay said.