QMX Gold Corporation Announces Production Results for the Fourth Quarter and Full Year of 2013; Provides Production Guidance for the Full Year of 2014
This fourth quarter production brings total production for 2013 to over 22,200 ounces of gold, in line with Company guidance. Full financial details will be released in March 2014. The Aurbel Mill continued to generate positive and consistent results in 2013 with an overall annual average recovery rate of 93.2% and was achieved with a significant increase in the mill throughput quarter over quarter. Over the course of 2013, the mill processed a total of 173,727 tonnes of ore at an average grade of 4.27 g/t to produce 22,225 ounces of gold. The production figures do not include an additional 10,000 tonnes of ore that were custom milled under the milling agreement with Armistice Resources (now renamed Kerr Mines Inc.) in the third quarter.
The Company plans to continue to mine out the mineralized lenses above the 42 Level in 2014 and expects production to be 16,500 to 19,000 ounces of gold in 2014.