Vancouver-based Ely Gold & Minerals said Monday it has achieved significant progress in boosting production from its Mt. Hamilton gold-silver project at the southern end of Nevada's prolific Battle Mountain gold trend.
Production increased from 5,000 to 8,500 tons per day with an estimated mine life of approximately seven years, Ely said.
The robust economics of this project should be further enhanced by some very creative mine planning and material handling, said John Brownlie, executive chairman of Ely Gold. The vertical ore pass and underground extraction tunnel could also increase our exploration options, possibly increasing minable resources and mine life.
Ely Gold holds a 90 percent stake in the venture; Solitario Exploration & Royalty Corp. holds a 10 percent stake.