More mining records were set by St Andrew Goldfields as they announced a record 22,350 ounces of gold for the last quarter of 2011. This is a 12% increase in the production of gold from the third quarter of 2011.
St Andrew Goldfields operated the Holt, Holloway and Hislop mines in the Kirkland lake area of Ontario. The mines are located in the Timmins Mining District. The total gold production for the company in 2011 hit 74,022 ounces. It had given a guidance of between 65,000 to 75,000 ounces for 2011.
The development of the Smoke Deep Zone at the Holloway Mine is under way and the Holt Mine is likely to hit production levels of 1,000 tonnes per day by the end of the first quarter of 2012.
Jacques Perron, President and CEO of St Andrews said that they were very happy with their fourth quarter performance. Jacques Perron added that their production in the second half of 2011 increased by 34% compared to the first half of 2011. They were still in ramp up mode at Holloway and Holt, and expect to continue to see an increase in production over the next few quarters.