Lyon Lake aborts Beta Vargas mine

Citing the weak gold market, Lyon Lake Mines (LLL-M) has suspended mining at its Beta Vargas open pit in Costa Rica, though heap-leaching is continuing.

Despite this setback, Lyon Lake says it plans to build a second leach pad at Beta Vargas in order to double production capacity and benefit from economies of scale. A second pad would enable the company to produce at a rate of 20,000-30,000 oz. annually.

In a move to shore up reserves for future expansion at Beta Vargas, Lyon Lake recently completed 2,500 metres of reverse-circulation drilling in the Guaitilar East area of the adjacent Canamazo concession. Drill results are pending.