Eldorado: Olympias Phase II Commissioning on Track
A pre-existing gold-silver-lead-zinc mine located in Greece’s Halkidiki Peninsula in northern Greece, Olympias is being re-developed in three phases. It has very high gold grades and an orebody that will allow for mining rates up to 1 million metric tons per year (mt/yr). “After a lot of hard work by our team in Greece, we are all very excited to now be at this juncture with commissioning and we expect to declare commercial production from Olympias Phase II in the third quarter,” said Paul Skayman, COO, Eldorado Gold.
The construction of Phase II is substantially complete and commissioning has commenced. Addition of low grade ore to the crushing circuit is expected next week. Pre-commissioning of the main flotation plant equipment is underway and ore will be introduced in April. Deliveries of first-fill reagents, grinding media, critical and operational spares are on schedule to support second quarter pre-commercial production.
Mined ore has been moved to the surface stockpile adjacent to the crusher for commissioning of the processing facility. Underground development is well positioned to support 2017 production guidance with 14 stopes in ore on nine different levels complete and ready for extraction. Ore mining will begin shortly in both the east and west ore zones using a drift-and-fill mining method.
Phase II involves processing ore from the underground at a rate of approximately 400,000 mt/yr. The new processing facility includes new processing equipment within the pre-existing plant building to produce three concentrates: lead-silver, zinc and gold bearing pyrite-arsenopyrite. In 2017, the Olympias mine is budgeted to process 267,000 mt of ore at grades of 9.6 g/mt gold, 3.4% lead, 3.4% zinc and 105 g/mt silver.