© Reuters.
VANCOUVER – Elevation Gold Mining Corporation (TSXV: ELVT) (OTCQX: EVGDF), a gold and silver producer, has released its operating results for the fourth quarter and full year of 2023. The company processed 604,167 ore tonnes in the fourth quarter, resulting in the production of 7,989 ounces of gold with an average grade of 0.54Â grams per tonne. For the year ended December 31, 2023, Elevation Gold sold 31,063 ounces of gold.
Additionally, the company reported a 26% increase in silver production for the year, totaling 202,060 ounces compared to the previous year. Despite operational challenges at the crushing plant, which impacted fourth-quarter production, these issues were resolved by the end of the quarter.
Elevation Gold’s CEO, Tim Swendseid, acknowledged the production shortfall, which was approximately 3,000 ounces below guidance, primarily due to the crusher-related operational issues. However, he expressed optimism for a stronger 2024, citing improving gold prices and expectations to make up for the missed production.
The company also announced the completion of the 3A-Ph2 Leach pad construction at the Moss Mine in early November, which was finished under budget and is now operational. Additionally, 19 reverse circulation drill holes were completed in the Reynolds Pit and Mordor areas, with assay results anticipated in the first quarter of 2024.
Elevation Gold’s shares are traded on the TSX Venture Exchange in Canada and the OTCQX in the United States. The company’s primary operation is the Moss Mine in Mohave County, Arizona, and it also holds the Hercules exploration property in Lyon County, Nevada.
The information provided is based on a press release statement from Elevation Gold Mining Corporation.
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