Polymetals Resources announced on Monday that commercial production is now underway at its Endeavor silver zinc mine.
Polymetals Executive Chairman Dave Sproule said their redevelopment activities to bring the Endeavor Mine back to life over the past nine months at a modest cost have been both challenging and rewarding for all involved.
“Polymetals board and management are very proud of the rapid and efficient redevelopment achieved to support establishment of underground and surface operations at it’s Endeavor mine,” Mr Sproule said.
“Our shareholders are realising ‘value for money’ from the in-house build undertaken which I can confidently say is rarely achieved at this scale.”
Staged commissioning of the mine commenced in April and stockpiling of crushed ore on the surface commenced last month.
“First cashflow will be received during June as pre-payment on our zinc concentrate stocks with first transport scheduled for early July,” Mr Sproule said.
Crushed ore from underground at the mine is now being routinely hoisted to the surface for processing.
“Optimisation of the grinding and flotation circuits is continuing to ensure consistent production of high-grade zinc and silver-lead concentrates.”
Mr Sproule reported access to the upper-level high-grade silver ore is proceeding with the first ore extraction expected during August.
He said operations will continue to ramp up to meet planned output during the second half of 2025.
The processing ore on surface stockpiles is being milled on a continuous basis and commissioning of the surface milling operation is proceeding to plan.
Mr Sproule said the production of silver-lead and zinc concentrates is well underway.
Site activities remain on schedule to be processing 65,000 tonne of ore per month during the second half of 2025.
Diamond drilling also continues in the Carpark prospect targeting southern extensions to the Main Lode.
“The Board is very pleased with how Endeavor’s General Manager, Matt Gill and his team have shepherded the project to production and look forward to delivering for our shareholders and the Cobar region over a lengthy mine life,” Mr Sproule said.
