Mali-focused miner Firefinch (ASX: FFX) has reported ‘strong’ quarterly production at its Morila Gold Project, recording 10,874 ounces for the January to March period.
The company notes that production, which is expected to increase to between 17,000 to 20,000 ounces for the April to June quarter, is benefiting from the early commencement of mining at the N’Tiola satellite deposit which kicked off six weeks ahead of schedule.
Speaking on the update, Firefinch Managing Director Dr Michael Anderson said: “After a year in the role as Managing Director, I am very pleased to report we have delivered on our plan of transitioning from tailings reprocessing to hard rock mining.
Our Q1 2022 gold production of 10,874 ounces comfortably met guidance and pleasingly was delivered injury free. We are on the brink of benefitting from the mining of the Morila Super Pit and N’Tiola, both of which have commenced ahead of schedule.
“We are on the brink of benefitting from the mining of the Morila Super Pit and N’Tiola, both of which have commenced ahead of schedule”
We are confident to maintain our 2022 production guidance for Morila at 100,000 ounces of gold and it is exciting to look forward to annualised production rates in H2 2022 in excess of 140,000 ounces. We are also refreshing the Life of Mine Plan and intensifying drilling as we seek to fully test the potential of Morila and its satellite ore bodies.”
Ore from the Viper satellite pit is expected to continue to account for the bulk of volume during Q2, as work moves through oxide to fresh ore, before being outpaced by the Super Pit during Q3.
This will be complemented by ore from N’Tiola, where work on a cutback is underway via Malian-owned partner EGTF.
Morila Gold Project 2022 production planThe Morila Gold Mine, acquired by Firefinch in 2020 for USD$28.9 million, has been responsible for over 7.5Moz of gold production since 2000 and sits on a current global resource of 2.5Moz.
Images: Firefinch Limited
