Gold-Ore Increases Gold Production at Bjorkdal
Tue Oct 7, 9:30 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2008) - Gold-Ore Resources Ltd. (TSX VENTURE: GOZ.V) is pleased to provide September and Third Quarter operational highlights for the 100% owned Bjorkdal Gold Mine in Sweden. Gold production at the mine has been increasing steadily during 2008. The Company continues to focus on cash flow and benefits from record gold prices in Swedish kronor.
September, 2008 Gold Production
During September gold production at the Bjorkdal Mine increased significantly from previous months. A total of 2,692 ounces of gold were produced, which equates to an annualized production rate of 32,304 ounces. This increased productivity is directly related to increased grades and tonnages achieved from the underground unit of the mine.
Underground test mining is nearly complete and a mining plan for the balance of 2008 and the full year of 2009 is now being designed. The Company is evaluating several options for increasing gold production by accessing more underground levels to provide more working faces.
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September, 2008
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Tonnes processed 95,149
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Daily throughput - tonnes 3,172
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Gold recovered - ounces 2,692
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Average plant recovery 90%
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To view the graph accompanying this press release please click on the following link: media3.marketwire.com
Third Quarter, 2008
During the Company's fiscal third quarter (June-August); the Bjorkdal Mine produced 5,695 ounces of gold. Production in June and July was impacted by a planned maintenance shutdown in June, a scheduled holiday by the contract miners in July and lower grades than anticipated.
The Company's Financial Statements and Management Discussion and Analysis for third quarter will be filed on www.sedar.com and the Company's website www.goldoreresources.com by October 30, 2008. Operational highlights include the following:
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From January 1,
Third Quarter 2008(1)
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Tonnes processed 298,915 795,881
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Daily throughput - tonnes 3,249 3,262
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Gold recovered - ounces 5,695 16,782
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Gold sold - ounces 5,797 16,708
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Average plant recovery 85% 86%
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(1) reflects the eight months since purchase of the mine
Gold production at Bjorkdal is achieved by processing material from three sources: surface stockpiles, open pit, and underground. The Company's objective is to increase gold production and cash flow by mining higher gold grades from underground and open pit. The Bjorkdal gravity gold plant continues to efficiently process 3,300 tonnes/day without cyanide, acid drainage or other deleterious metals.
About Gold-Ore:
Gold-Ore Resources is a mineral exploration and development company focused in Sweden. In addition to the Bjorkdal Gold Mine, the Company also has other assets in the country; the Ronnberget Gold Property (adjacent to Bjorkdal), Norrliden Polymetallic Deposit and the Vallberget Polymetallic Property.
Bjorkdal property information is posted on the Company's web site at www.goldoreresources.com.
ON BEHALF OF THE BOARD
Robert Wasylyshyn, President
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
News Release 08-13
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Glen Dickson
Gold-Ore Resources Ltd.
(604) 687-8884
Bob Wasylyshyn
Gold-Ore Resources Ltd.
(604) 687-8884
Ron Ewing
Gold-Ore Resources Ltd.
(604) 687-8884
Website: www.goldoreresources.com |
