Balabag results, as per 2nd Q results.. through to June 30, 2022, nineteen (19) shipments had been completed in the amount of 19,848 kg containing 22,348 ounces of Au and 602,692 ounces of Ag for 29,929 gold equivalent ounces.
As at the effective date of this MD&A, Balabag has completed twenty-one (21) shipments in the amount of 22,182 kg of gold dor containing 25,455 ounces of Au and 673,666 ounces of Ag for 33,806 AuEq oz.
The average processing rate improved to 1,577 tpd for the six months ended June 30, 2022, with an average of 1,911 tpd through the month of June
The cash cost per ounce for the six (6) months ended June 30, 2022, was US $1,263 and the All-in Cost averaged US $1,634 for the same period.
Drilling results only through to completion of Phase 4 were used to update the resource model presented in the NI 43-101 compliant Technical Report entitled “NI 43-101 Exploration Results and Mineral Resource Update Report on the Balabag Gold-Silver Project” dated July 19, 2021 and filed on SEDAR on July 20, 2021. Since that time a further 11,094 meters have been drilled over 101 drillholes, including the Phase 5A, Phase 5B and Phase 6 drilling programs