Overview
The Ity mine has produced over 600,000 ounces of gold to date.
When La Mancha acquired the Ity mine in 2006, two major projects were planned: a new pit, and new leach pads. We also reinstated exploration as a priority for mine development. The Mount Ity pit was put into production in 2008, and ongoing exploration has substantially increased the mine's resources.
The new heap leaching area was completed in mid-2010. The project required a total capital investment of $9.9 million and a one-month production shut-down. The new heap leaching pads should ensure the continuity of milling activities and allow for future increases in production.
With strong reserves and improved processing capacity, the Ity mine is expected to continue delivering a solid performance for many years to come.
Long-Term Potential
The high prospectivity of the area around the Ity mine bodes well for the mine's future. The current areas of focus are the nearby Zia extension and the area on the opposite side of the Cavally River.
The goal of the 2010 drilling program was to further delineate the most interesting targets identified in 2009.
Attributable Resources and reserves
Ity
| Tonnes | Au (g/t) | Au (oz) |
|---|
| Proven Reserves |
- |
-
|
-
|
| Probable Reserves |
535,450 |
4.85 |
83,540 |
| Sub-total |
535,450 |
4.85 |
83,540 |
| Measured Resource |
1,147,500 |
4.46 |
164,600 |
| Indicated Resource |
1,520,200 |
2.69
|
131,500
|
| Total Measured and Indicated |
2,667,700 |
3.45
|
296,100 |
| Inferred Resource |
4,053,900 |
1.60
|
208,700 |
The resources shown include the reserves.
Reported mineral reserves have been calculated in accordance with definitions and guidelines adopted by the Canadian Institute of Mining, Metallurgy and Petroleum. Unlike proven and probable mineral reserves, mineral resources (of all categories) do not have demonstrated economic viability.
In mining operations, measured and indicated resources are considered uneconomic at the price used for reserves calculations.
All calculations dated at 31/12/2010