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Monday, 26th January 2009 (1222 views)

Castle Gold reports increased operating performance

Castle Gold has revealed that its operating performance increased over the fourth quarter of 2008.

The company stated that gold production at its El Castillo Gold Mine in Durango, Mexico, was 16 per cent higher than the third quarter of the year at to 5,386 ounces.

Castle Gold is ramping up production at the wholly-owned mine and produced 2,034 ounces of gold during December 2008, setting a new monthly record by mining 523,205 tonnes of material.

Gold production dipped at its El Sastre Gold Mine in Guatemala by 19 per cent between the third and fourth quarters of last year, but grade mined increased to 2.84 grams per tonne in quarter three from an average of 2.55 grams per tonne in the previous three months.

Thomas Atkins, Castle Gold president and chief executive, stated: "The El Castillo operating team performed well during the quarter with production rebounding in the latter half of the period."

The Canadian gold producer has projects focused in the Americas, including the wholly-owned El Castillo gold mine, the 50 per cent-owned El Sastre gold mine in Guatemala, the La Fortuna gold-silver-copper project in Mexico and the El Arenal project in Guatemala.

 

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