{"id":1188888,"date":"2020-06-08T05:53:00","date_gmt":"2020-06-08T10:53:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1026412"},"modified":"2020-06-08T05:53:00","modified_gmt":"2020-06-08T10:53:00","slug":"eldorado-goes-ahead-with-underground-project-at-quebec-mine","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1188888","title":{"rendered":"Eldorado goes ahead with underground project at Quebec mine"},"content":{"rendered":"

Eldorado Gold (TSX:ELD)(NYSE:EGO) has started construction of a $24-million tunnel<\/a> at its only Canadian operation, the Lamaque gold mine in Quebec, which will allow the company to grow production and reduce energy use.<\/p>\n

The Vancouver-based miner, which kicked off commercial production at Lamaque<\/a> last year, said the fully permitted decline project will connect the Sigma mill and the 405 metre level of the Triangle mine.<\/p>\n

President and chief executive officer, George Burns, said the development represented a relatively modest investment for the multiple near- and long-term benefits it will provide.<\/p>\n

Expected to be finished in the first half of 2022, the project will eliminate re-handling and transport (a roughly 26-km round trip) of the ore from the Triangle mine to the mill, reducing carbon emissions, costs, and removing haulage traffic from public roads.<\/p>\n

It is also expected to cut energy requirements for mine ventilation.<\/p>\n

The project will provide underground access for lower cost exploration in the prospective area between the Triangle mine and the historic Sigma and Lamaque mines.<\/p>\n

Ultimately, the company said, the tunnel will facilitate increased future production from the Triangle mine and allow for mining of a recently found parallel deposit<\/a>.<\/p>\n

Eldorado is evaluating the possible addition of an underground crushing and conveying system as well as a potential mill expansion. An update outlining the path forward at Lamaque will be provided by year-end, the company said.<\/p>\n

The underground mine, which Eldorado grabbed after acquiring Integra Gold in 2017<\/a>, is forecast to produce between 125,000 and 135,000 gold ounces this year at a cash operating cost of $575 to $625 per ounce of metal sold. <\/p>\n

Despite mandated covid-19 restrictions, output at Lamaque in the first three months of the year rose 39% from a year ago to 27,353 ounces<\/a>, Eldorado said in April.<\/p>\n

The miner recently received an environmental permit to increase underground production from the Triangle deposit at Lamaque from 1,800 tonnes of ore a day to 2,650 t\/d.<\/p>\n

Global operations<\/strong><\/h2>\n

Eldorado, which also has mining, development and exploration operations in Greece, Romania, Serbia and Brazil, also had positive news about some of them.<\/p>\n

In Greece, where it owns the Olympias, Stratoni and Skouries assets, the company has bought out the final 5% of Hellas Gold and it is now the sole shareholder of the subsidiary.<\/p>\n

The company noted that Greece had passed a new environmental law, which will set standards at the level of the European Union\u2019s current requirements for resource companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tunnel at Eldorado’s Lamaque mine will connect the Sigma mill to the 405 m level of the Triangle mine, where resources and reserves reside.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1188888"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1188888"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1188888\/revisions"}],"predecessor-version":[{"id":1188960,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1188888\/revisions\/1188960"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1188888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1188888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1188888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}