Steppe Gold Limited (TSX: STGO | OTCQX: STPGF | FSE: 2J9) has provided an operations update regarding the ATO Gold Mine.
Highlights include:
- ATO Gold Mine production passes the 100,000oz threshold
- Project to date mined ore has reached 3.894Mt
- Project to date stacked ore has reached 3.529Mt
- Increasing its annual production from approximately 30koz in 2023 and 2024 to over 100koz Au Eq from the end of 2025
Mr. Bataa Tumur-Ochir, chairman, and CEO, commented, “We are very excited to pass the 100,000oz milestone at the ATO Gold Mine. In difficult circumstances our team has remained focused on delivering the best production outcomes, using responsible mining best practices and, most importantly, providing a safe workplace for all our team members.”
“We are a proud Mongolian company and I want to thank all our stakeholders and partners who have shown us great support in our journey so far. We are excited about the next phase of the project as we move to be a 100,000oz pa producer, fulfilling the promise of home-grown Mongolian mining companies on the world stage.”
The company has reported that production from the Phase 1 heap leach operations has passed the 100,000oz milestone, which equates to gross revenue of US$188M, and royalties and taxed paid to the Mongolian treasury of approximately US$13M in the project to date.
From the start of commercial production in April 2020, the Steppe Gold team is proud to have maintained uninterrupted production, while withstanding major disruption to reagent supplies. The company has generated consistent economic activity for all our stakeholders – driving training and employment in the region and supporting economic activity in our local communities.
To find out more, please visit www.steppegold.com
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