The Hoyle Pond underground operation produced a total of 347,179 tonnes of ore at an average grade of 11.81 gpt in 2008. Ore sources included development and production stoping. A total of 4,912 meters of ore development and 7,420 meters of waste development were completed. Total gold production was 109,660 ounces, equal to 37% of the total PGM ounces produced. Hoyle Pond has produced in excess of 2.4M ounces of gold since production started in 1985.
Mining will continue to focus on the high grade A/UM veins which will account for greater than 70% of the ounces produced. Total mine development advance, as compared to 2008, will decrease slightly in 2009, with an overall increase in the paste-cut-fill mining tonnages which are focused in the narrow, but high grade "A West" veins. Narrow vein longhole will continue to drive the production targets forward 2009 with the utilization of new technology which is currently under investigation. The second phase of the internal winze will be completed in early January 2009 and the prliminary work for the third phase is scheduled for the first quarter of this year.
Exploration efforts for 2009 will be concentrating on expanding our known reserves and resources below current mining levels as well as determining potential mining targets horizontally in the upper portions of the mine. A considerable effort will be made to determine the true nature of the VAZ system on the 1200 to 1250 area of the mine that should allow for preliminary development in the fourth quarter of this year.
Hoyle Pond Underground Mine
