Minto Metals Corp (TSX-V:MNTO) said that in the first quarter, it achieved payable copper production of 5.7 million pounds from its Minto Mine in central Yukon.
The company said while copper sales were in line with its forecast for 2023, they were lower than the comparable quarter in 2022 as its mining areas were limited due to the transition in mining zones from Copper-Kell to Area-2.
Ore produced in the quarter was 175,944 dry metric tonnes, mill feed was 206,653 dry metric tonnes, and overall head grade was 1.35%.
Minto CEO Chris Stewart noted that it was a slow start to 2023 for the company with a challenging and disappointing first quarter.
“Limited mining horizons combined with geotechnical constraints in the Copper-Keel zone has had an adverse effect on the production in the first quarter as we transition from predominantly mining in the Copper-Keel zone into Area-2 and Minto East 152 zones,” Stewart said in a statement.
"We expect to transition into the new mining areas in late mid-year, regaining our momentum, and consistent revenue generation.”
Minto operates the producing Minto mine located within the traditional territory of the Selkirk First Nation in the Minto Copper Belt of the Yukon.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie