St. Andrew Goldfields starts shipping Cu-Au concentrate
St. Andrew Goldfields starts shipping Cu-Au concentrate
2007-02-19 17:02 ET - News Release
Mr. Don Shaxon reports
ST ANDREW ANNOUNCES FIRST SHIPMENT OF COPPER AND GOLD CONCENTRATES FROM NIXON FORK GOLD MINE, ALASKA
St. Andrew Goldfields Ltd. has made the first shipment of copper and gold concentrates from the Nixon Fork gold mine.
Copper and gold concentrates from the Nixon Fork gold mill
The second and major product from the Nixon Fork gold mill has been produced in sufficient quantities that shipments of copper and gold concentrates has commenced from the Nixon Fork mine site.
Concentrates are being backhauled by air on the fuel planes from the Nixon Fork mine site to Fairbanks, Alaska, where they are placed in rail cars for transport by rail/barge to the Xstrata Copper Canada's Horne smelter in Rouyn-Noranda, Que. St. Andrew has entered into a financing arrangement with Auramet Trading LLC that provides for early partial payment of the gold and copper metal content of the concentrate.
Gold dore from the Nixon Fork gold mill
Gold dore, the first and minor product from the gravity section of the Nixon Fork gold mill, is now being produced in sufficient quantities that a steady flow of gold dore is being shipped from the Nixon Fork mine site.
Underground mining at the Crystal garnet mine
Underground mining operations at Crystal garnet mine have continued to open up additional mining areas and sufficient stope face is now available to maintain the 150-ton-per-day underground ore production rate.
Nixon Fork gold mine mineral resource and mineral reserve estimates
An NP 43-101-compliant "Technical Report on the Nixon Fork Project, Alaska, U.S.A." by Scott Wilson, RPA, and dated Oct. 2, 2006, defined a mineral resource estimate and a mineral reserve estimate for the Nixon Fork gold mine as follows:
NIXON FORK -- MINERAL RESERVES
Property Proven Probable
Tonnes Grams Ounces Tonnes g/t Au Ounces
Au per Au Au
tonne
(g/t)
Nixon Fork(a) 47,000 34.05 51,500 137,500 18.6 82,230
NIXON FORK -- MINERAL RESOURCES
Property Measured Indicated Inferred
Tonnes Grams Ounces Tonnes g/t Au Ounces Tonnes g/t Au Ounces
Au Au Au Au
per
tonne
(g/t)
Nixon 23,400 36.8 27,700 126,000 21.6 87,700 93,000 15.5 46,300
Fork(a)
(a) Grades are cut to 150 g/t gold; cut-off grade is 21 g/t gold. A
$550-(U.S.)-per-ounce Au price was used.
The reserve estimate is based on a mining plan that includes internal
dilution at a grade varying between 7.0 g/t and 21.0 g/t gold plus an
additional 10-per-cent dilution at zero grade.
The company anticipates that the Nixon Fork property will achieve a production rate of 40,000 ounces of gold per year in 2007.
We seek Safe Harbor. |
