Capital Gold announced that gross proceeds were approximately $11.7 million on 11,733 ounces of gold sold in the 2010 Q1, ended October 31, 2009, at its El Chanate mine in Sonora, Mexico. The average sale price was approximately $995 per ounce. This represents an increase in gross proceeds of approximately 19% over the fiscal quarter ended July 31, 2009 and a 27% increase over the same period in the prior fiscal year. Monthly gold production is currently running at approximately 4,200 ounces.
Capital Gold announced an updated reserve statement and mine plan which shows increased reserves for the El Chanate open pit gold mine in Sonora, Mexico. Net of depletion, proven and probable reserves were increased from 913,000 ounces to 1,504,000 ounces – a 64.7% increase.
Capital Gold Corporation announce that the additional secondary crushing module is now installed and operational at it El Chanate mine in Sonora Mexico. The crushing system now has the capacity
to process over 15,000 tonnes of ore per day. John Brownlie, Capital Gold’s Chief Operating Officer provides a brief operational update: “The Secondary crushing module was delivered, installed and became operational about a full month ahead of our initial schedule. It also came in on budget. This now gives El Chanate the ability to process over 15,000 tonnes of ore per day, which is a significant increase to the current daily rate of between ten and eleven thousand tonnes.” Brownlie adds: “This will help enable us to reach our stated goal of a production rate of 70,000 ounces per year in 2009”.
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