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Eldorado declares commercial production at Lamaque

Vancouver-based miner Eldorado Gold has declared commercial production ahead of schedule at the Lamaque mine in Quebec, marking the first gold production in Canada for the company.
Eldorado declares commercial production at Lamaque Eldorado declares commercial production at Lamaque Eldorado declares commercial production at Lamaque Eldorado declares commercial production at Lamaque Eldorado declares commercial production at Lamaque

Eldorado Gold's Lamaque mine in Quebec has declared commercial production

Staff Reporter

Eldorado gained control of the mine through its acquisition of Integra Gold in July 2017.

The initial mine plan covers seven years, with 100,000-110,000oz gold expected for Eldorado's account this year. That will increase to between 125,000-135,000oz in 2020 and 2021.

"We are proud to announce the achievement of this important milestone just over 18 months after acquiring this asset," COO Paul Skayman said.

Eldorado believes there is significant exploration upside present at Lamaque and it has budgeted to undertake 37,000m of drilling in 2019 as it looks to fill the excess capacity of the associated refurbished Sigma mill.

Eldorado, with a market capitalisation of C$929 million, plans to release its March-quarter results after the market closes on May 2.