Veris Gold Corp. Reports Production Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Production Guidance for the Full Year of 2014
For the fourth quarter, 2013 the Jerritt Canyon plant processed 307,550 total ore tons, averaging 3,340 tons through the roaster per operating day. This resulted in the production of 33,500 ounces of gold from Jerritt Canyon ore. Recovery rates for the fourth quarter averaged 85%. Additionally, the Company tolled milled 48,760 tons of ore in the fourth quarter. The SSX-Steer Mine produced 62,190 tons containing an estimated 9,630 ounces of gold. The average mining rate was 740 tons per operating day. The Smith Mine produced 132,180 tons containing an estimated 21,110 ounces of gold averaging 1,430 tons per day of production. The Starvation Canyon Mine produced 76,780 tons containing an estimated 15,750 ounces of gold (0.21 ounces per ton) averaging 835 tons per day, which outperformed the production goal of 600 tons per day.
For 2014, the company has targeted production of 180,000 ounces of gold and has targeted processing 263,600 tons of tolled milled ore in 2014, which is expected to significantly reduce cash costs per ounce. Veris intends to increase mining production at its mines in 2014 to over 3,500 tons per day that includes ores from the new Saval 4 underground mine scheduled to commence operations in the second quarter.