EL TOQUI MILL RESTARTS
January 12, 1999...Breakwater Resources Ltd. (TSE-BWR)
announced today that milling operations at its El Toqui
Mine, in southern Chile, have recommenced following an
18-week shutdown. During the shutdown the company made
modifications to the processing facilities while continuing
with mine development. As a result, 103,000 tonnes of
broken development ore, approximately three months
production, have been stockpiled for plant startup.
Personnel working in the underground mine and maintenance
operations have been temporarily laid off as mining
operations have been suspended while milling of the
stockpiled ore takes place.
Modifications to the processing facilities and the change
in the mining methodology completed during the last four
months, combined with the new ship loading facilities at the
Port of Chacabuco will enable the company to produce zinc at
a substantially lower cost than previously. Once the
stockpiled ore has been processed, a decision to reopen the
mine or to place the operation on a care and maintenance
basis will be made based on prevailing metal prices at the
time.
Breakwater Resources Ltd. is a mineral resource company
engaged in the acquisition, exploration, development and
mining of base metal deposits in the Americas and North
Africa. Breakwater has four producing zinc mines; the El
Mochito mine in Honduras; the El Toqui mine in Chile; the
Nanisivik mine on Baffin Island, Canada; and the Bougrine
mine in Tunisia. Breakwater also owns the Caribou mine in
New Brunswick, Canada that is currently closed pending the
results of technical and economic studies currently being
conducted and higher metal prices.
For further information please contact:
Gordon F. Bub
Chairman and Chief Executive Officer
(416) 363-4798 Ext. 264
Colin K. Benner
President and Chief Operating Officer
(416) 363-4798 Ext. 269 |
