Through a 50% owned subsidiary, Red Rock Mining (NASDAQ) is continuing to develop the Amelia gold project located near Magdalena in Sonora State, Mexico.
The property adjoins the Gertrudis gold project operated by Phelps Dodge, currently Mexico’s largest operating gold mine.
Red Rock plans to bring the Amelia project into commercial production by November of this year at a planned rate of 1,000 tonnes per day. About 1.2 tonnes of gold (40,000 oz.) will be produced in the first full year of operation.
The project has reserves in all categories of 1.9 million tonnes grading 2.6 grams gold per tonne, with minable reserves reported as 1.3 million tonnes of 3.1 grams gold per tonne.
The open pit operation will use heap leach processing, and production costs are expected to average US$151 per oz. gold produced.
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