Golconda Gold starts mining at Princeton Top, South Africa

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Golconda Gold Ltd. [TSXV-GG; OTCQB-GGGOF] reported that it has commenced mining at, and delivered its first ore to the processing plant, from Princeton Top, a key step in its development plan to significantly increase production at its Galaxy Gold Mine in South Africa.

Princeton Top contains an Indicated resource of 912,846 tonnes at 3.04 g/t gold tonne containing 89,200 ounces of gold.

The company has used the funds received from the recently closed investment from Empress Royalty Holding Corp., a wholly-owned subsidiary of Empress Royalty Corp., to re-equip the 3.2-km access ramp, install a new compressor, reinstate the historic ore pass to its existing Princeton operations on Level 17 and mobilized a mining fleet to recommence mining.

Nick Brodie, CEO of Golconda Gold, stated, “The commencement of mining at Princeton Top is ahead of schedule and is a testimony to our hard-working team at Galaxy. This is a key step in our development plan to increase mining volumes, to utilize spare capacity in Galaxy’s new larger milling circuit and to ultimately more than double gold production this year.”

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