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Wednesday, 25th October 2006 (3178 views)

Production at a previously undeveloped sulphide gold resource at Oxiana's Sepon property in Laos could provide a "significant" return.

An increase of 320,000 ounces of gold per year could result from the development and a feasibility study due to take place within the first six months of 2007 and a planned start to production in 2008.

Currently, output from the sulphide resource is likely to be in the region of 150,000 ounces of gold per year while the finishing touches are added to the processing route, according to Oxiana's managing director Owen Hegarty.

Gold output at the Sepon site was up from 38,581 ounces to 51,242 in the third quarter, compared to the corresponding quarter last year.

Allied to this, exploration work that has taken place at Oxiana's Golden Grove property in Australia was described by Mr Hegarty as "a wonderful discovery" and "one of the discoveries, we believe, of the decade".

The company was awarded the accolade of Miner of the Year at the Excellence in Mining and Exploration Awards Dinner, in Sydney on October 10th.

 

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