MAY 10, 2006 - 13:50 ET
Century Mining Reports Progress on Lamaque Underground Phase 1 Exploration and Development Program
BLAINE, WASHINGTON--(CCNMatthews - May 10, 2006) - Century Mining Corporation (TSX VENTURE:CMM) announces that inspections of the main surface decline to gain access to the underground Lamaque workings are progressing favourably. Details of the underground exploration and development program at the Lamaque Mine were announced on March 20, 2006.
The Lamaque Mine, which is adjacent to the operating Sigma Mine, operated from 1935 to 1985 with total mine production of approximately 24.2 million tonnes of ore at an average grade of 5.81 g/t gold for a total of 4.55 million ounces of gold.
Since announcing the project, the inspection of the main access, as an integral component of Phase 1, has advanced systematically and on schedule to the 775 level. To date, approximately 5,100 feet of decline have been inspected commencing from surface. Ground conditions in the decline have been observed to be exceptionally good, particularly recognizing the length of time since operations were suspended in 1985. Several prominent quartz veins have been observed in the main decline and conditions in previously mined excavations have also been observed to be favourable, providing confidence that any future mining should not encounter adverse ground conditions.
The Company will continue to inspect the main decline down to the 1200 level with the objective of verifying access to that point. Future Phase 1 activities will also include sampling of quartz veins and verifying the existing level of mine drainage in preparation for carrying out Phases 2 and 3 of the project.
Margaret Kent, President & CEO, commented: "We are very pleased with the conditions of the Lamaque decline based on our inspections to date and are confident that our objectives for Phase 1 of the Lamaque underground project will be met on schedule and on budget."
About Century Mining Corporation
Founded in 2003, Century Mining Corporation owns the Sigma-Lamaque Complex in Quebec, where gold production of 90,000 ounces is forecast for 2006 at a cash cost of US$325 to US350 an ounce.
Margaret M. Kent, Chairman, President & CEO
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and as amended in Section 27E of the 1934 Act.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.
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tanoose......................more to come?? |
