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Scotgold Resources says activities at Cononish gold and silver project progressing well; beefs up its geoscience team

The company said the first gold pour from the Scottish mine is expected before the end of November

Scotgold Resources Limited -

Scotgold Resources Limited (LON:SGZ) has said construction and development activities at the Cononish gold and silver project are progressing well, with the first gold pour from the Scottish mine expected before the end of November.

The company said underground development at Cononish has benefited from the arrival on site of the previously announced standby ST2G scoop tram while the first of two new T1D drill rigs is currently in transit.

Plant construction is now focused on the building structure, to be followed by the installation and connections of pumps, drives, piping and electrics and ultimately commissioning, the company said.

Scotgold also revealed that it has beefed up its geoscience team with two appointments.

Dr Simon Dominy, a mining geologist-engineer with more than 25 years of practical and management experience in project development, value generation and operational optimisation, has been appointed as Group Manager - Resources & Reserves.

David Catterall has been appointed as an exploration consultant to advise on the Grampian Project. He is a professional exploration geologist with more than 30 years' experience in the resource sector; with an emphasis on structural mapping and interpretation, geochemistry and geophysics.

"The depth of our geological understanding of both Cononish and the Dalradian belt is obviously key to our long-term success and with the appointments made today, we are building a world-class geoscience team to unlock the fantastic potential of this whole area and our significant land holdings in particular,” Richard Gray, the chief executive officer of Scotgold said in a statement.

“Our objective is to use the cash flow generative platform which Cononish is expected to provide to build a highly profitable, low-risk gold mining company operating in stable jurisdictions. With this in mind, I am confident both Simon and David will prove invaluable to Scotgold and I look forward to providing further updates on our progress,” he added.

Quick facts: Scotgold Resources Limited

Price: 122.5 GBX

AIM:SGZ
Market: AIM
Market Cap: £62.91 m
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Scotgold Resources on track for first gold pour by end of November

Scotgold Resources Limited's (LON:SGZ) Richard Gray talks to Proactive London about their progress at the Cononish gold and silver project. The plan now is to start producing with the first gold pour from the Scottish mine expected before the end of November. Scotgold has also revealed that it...

2 weeks, 2 days ago

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