| | Published : April 18th, 2008 | Granted Increase on Mill Processing Permit and Connects Nuestra Señora Mill Facility to Mexi |
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Re: News Releases - Thursday, April 17, 2008
Title: Scorpio Granted Increase on Mill Processing Permit and Connects Nuestra Señora Mill Facility to Mexico's Main Power Grid
Vancouver, April 17, 2008 - Scorpio Mining Corporation (TSX:SPM) (the "Company") is pleased to announce the following developments at its 100% owned Nuestra Señora project, Sinaloa State, Mexico.
Peter J. Hawley, Chairman, CEO reports, "Commercial production at Nuestra Señora is scheduled to commence in July 2008 at 1,000 tonnes per day. With the expectation that throughput will eventually increase, the Company applied for and was granted a permit for future increase in mineral processing to 2,000 tonnes per day. Now that the mill is on the electrical grid, the Company can continue with commissioning and an orderly start up, with production of saleable concentrate in the near future. On another front, the Company was recently granted title to the Zaida claim, which is part of a strategic expansion in land holdings through staking of favourable ground. The new claim acquisition hosts three known polymetallic deposits and will be included into future exploration programs."
- On March 27, 2008, the Direccion General de Minas issued 100% title to the Company of the 1,141.2655-hectare Zaida exploitation claim, which is contiguous to the north-northwest of the current 100% owned exploitation claim holding.
- On April 1, 2008, the Company formally received from the Mexican authority, SEMARNAT, final documentation allowing the mill facility to process 2,000 tonnes per day. The previous underlying documentation allowed the Company to process only 1,000 tonnes per day.
- On April 10, 2008, the mill facility was officially connected to Mexico's main power grid and a kilowatt meter was installed at the entrance to the property. Power is currently distributed between the crushing plant and the mill. Construction of a line from the mill facility to supply power to the mine is scheduled to commence in late May. It is also the Company's intention to provide the communities of Los Braceros, La Seca and the University of Sinaloa's Research Facility with electrical power, which is part of the Company's overall mandate to assist in the development of the local communities.
- On April 12, 2008, the mill facility was connected to the water supply line, which is capable of delivering sufficient fresh water for all the plant's requirements although the intention is to recycle 80% of the water used in the processing of the concentrates. This supply line will also provide the University of Sinaloa's Research Facility with fresh water, also in keeping with the Company's intent to support Mexico's education in research and development.
President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified Person for the Nuestra Señora project. Mr. Scammell is responsible for the current exploration and development program and has reviewed the content of this release.
ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
Chairman & CEO
For further information contact:
Glenn Little, Jackson Little Holdings Ltd: 604-930-4375; 1-888-930-4375
Email: jlconsulting@telus.net
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
Email: yes@yesinternational.com
This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of silver, zinc, copper, lead and gold, the timing of construction and production activities, the mine life of the Nuestra Señora Project, the economic viability and estimated internal rate of return of the Nuestra Señora Project, the estimation of mineral reserves and mineral resources, the results of drilling, estimated future capital and operating costs, projected mineral recovery rates, requirements for additional financing and Scorpio Mining Corporation's commitment to, and plans for developing the Nuestra Señora Project. Generally, these forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects"' or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Scorpio Mining Corporation to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development and construction of the Nuestra Señora Project, risks related to international operations, construction delays and cost overruns, the actual results of current exploration, development and construction activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of silver, zinc, copper, lead and gold, as well as those factors discussed in the sections relating to risk factors of our business filed in Scorpio Mining Corporation's required securities filings on SEDAR, including its Annual Information Form dated March 26, 2008. Although Scorpio Mining Corporation has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Scorpio Mining Corporation does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Copyright © 2008 SCORPIO MINING CORPORATION (SPM) All rights reserved. For more information visit our website at
http://www.scorpiomining.com/
or send email to
scorpio@scorpiomining.com
..
Message sent on Wed Apr 16, 2008 at 2:42:42 PM Pacific Time
Data and Statistics for these countries : Mexico | All Gold and Silver Prices for these countries : Mexico | All
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Scorpio Mining Corporation
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PRODUCER |
CODE : SPM.TO |
ISIN : CA80917V1058 |
CUSIP : 80917V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Scorpio Mining is a silver and zinc development stage company based in Canada. Scorpio Mining produces silver, zinc, copper, gold and lead in Mexico, and holds various exploration projects in Mexico. Its main asset in production is NUESTRA SENORA in Mexico and its main exploration properties are SAN RAFAEL - MAIN & UPPER ZONE, SAN RAFAEL - 120 ZONE, EL CAJON DEPOSIT, LA VERDE SINALOA, COSALA DISTRICT and LA REVANCHA in Mexico. Scorpio Mining is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 27.8 millions as of today (US$ 20.0 millions, € 17.9 millions). Its stock quote reached its highest recent level on April 16, 2004 at CA$ 4.00, and its lowest recent point on February 05, 2016 at CA$ 0.06. Scorpio Mining has 347 230 016 shares outstanding. |
Annual reports of Scorpio Mining Corporation |
Financings of Scorpio Mining Corporation |
Option Grants of Scorpio Mining Corporation |
Nominations of Scorpio Mining Corporation |
Financials of Scorpio Mining Corporation |
Project news of Scorpio Mining Corporation |
4/30/2013 | Announces Granting of Environmental Permitfor El Caj=F3n an... |
4/4/2013 | Announces 2013 Exploration Program |
1/18/2013 | Reports Q4 Operating Results and 2012 Production for Nuestra... |
10/9/2012 | Deepens Hole EC-109 at New El Caj=F3n La Emma Zone and Inter... |
10/1/2012 | Announces Increased Mineral Resources and Contained Metals a... |
9/24/2012 | Announces Increase in Resource Estimate for El Caj=F3n |
1/30/2012 | (Nuestra Senora)Advances Expansion Planning to Increase Production Capacity ... |
1/27/2012 | Reports Record 2011 Production Results and2012 Guidance for ... |
6/27/2011 | (Nuestra Senora)to Advance Feasibility Study of an Additional Plant and Plan... |
3/17/2011 | (Cosala District)Acquires Additional Mineral Concessions inCosal=E1 District ... |
3/13/2011 | (Nuestra Senora)Reports Nuestra Senora Mineral Reserve of 2.764 Mt @287 AgEq... |
5/6/2010 | (Nuestra Senora)Drilling Reports 42.4 metres grading 198.03 g/t Silver, 1.37... |
11/5/2009 | (San Rafael - Main & Upper Zone)Reports Drill Highlights of Platte River Gold=E2??s La Verde... |
2/26/2009 | (Nuestra Senora)Reports on Drilling of the Main Zone from the 9th Level |
11/6/2008 | Drilling of the North West Main Zone from the 10th Level Co... |
11/4/2008 | (Nuestra Senora)Provides October Operations Update on Nuestra Senora Mine, M... |
9/6/2008 | (Nuestra Senora)?s Drilling of the North West Main Zone Intersects 13,671 g/... |
9/3/2008 | (Nuestra Senora)Provides Operations Update on Nuestra Senora Project, Mexico |
7/3/2008 | (Nuestra Senora)Drilling on 9th Level of the Main Zone Reports 5.80 metres g... |
6/16/2008 | (Nuestra Senora)Mexican Subsidiary Enters Into Agency Agreement for Marketin... |
5/13/2008 | (Nuestra Senora)Receives New Resource Estimate |
5/5/2008 | (Nuestra Senora)Drilling of the Main Zone from the 8th Level of the Nuestra ... |
4/24/2008 | (Nuestra Senora) Commences Production Mining at the Nuestra Senora Project, ... |
4/11/2008 | (Nuestra Senora)Discovers Another New Zone Reporting 11.50 metres grading 16... |
3/31/2008 | (Nuestra Senora)Receives Mill Facility Construction Completion Certificate A... |
3/18/2008 | (Nuestra Senora)Santa Teresa Extension Continues to Produce High-Grade Resul... |
3/12/2008 | (Nuestra Senora)Nuestra Senora Main Zone Increases In Size With Underground ... |
2/28/2008 | (Nuestra Senora)Santa Teresa Deposit Continues to Deliver with Underground D... |
2/26/2008 | (Nuestra Senora) Reports on Mineralized Stockpile for Initial Mill Throughpu... |
2/14/2008 | (Nuestra Senora) Provides Nuestra Senora Project Update, Sinaloa State, Mexi... |
1/16/2008 | (Nuestra Senora)Underground Drilling of Santa Teresa Deposit Reports 32.8 me... |
11/2/2007 | (Nuestra Senora)Deep Drilling of Nuestra Senora Deposit From 11th level Hits... |
10/2/2007 | Reports High-Grade Intercept of 1,158 g/t Ag, 29.95% Zn, 4.2... |
9/25/2007 | (Nuestra Senora)Scorpio's Underground Drilling of Sept 9 Zone Hits 1,483 g/t... |
9/19/2007 | (Nuestra Senora)Underground Drilling of Nuestra Señora Deposit Hits 21 metr... |
8/30/2007 | (Nuestra Senora)Mexico Team Fully Staffed and Ready for Production |
8/20/2007 | (Nuestra Senora)Scorpio's Underground Drilling from the 9th Level of Nuestra... |
8/13/2007 | (Nuestra Senora)Scorpio's Underground Drilling of Nuestra Senora Deposit Hi... |
8/8/2007 | (Nuestra Senora) Provides Nuestra Senora Project Update, Sinaloa State, Mexi... |
7/30/2007 | (Nuestra Senora)First Ever Surface Drilling of Santo Domingo Satellite Depos... |
7/10/2007 | (Nuestra Senora)8 Level Underground Drilling of Nuestra Señora Deposit Repor... |
6/14/2007 | AMENDED: Scorpio Receives Positive Results from the Pre-Feas... |
6/13/2007 | (Nuestra Senora)Receives Positive Results from the Pre-Feasibility Study on ... |
6/8/2007 | (Nuestra Senora)2007 Technical report |
4/23/2007 | (Nuestra Senora)Drilling of Nuestra Señora Main Zone Reports 4.4 metres grad... |
3/26/2007 | (Nuestra Senora)Drilling of Nuestra Senora Zone Hits 11 Mineralized Intercep... |
3/19/2007 | (Nuestra Senora)Drilling of Nuestra Senora Zone Hits 8 Mineralized Intercept... |
2/21/2007 | (Nuestra Senora)Receives Metallurgical Test Work and Moves Forward |
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Corporate news of Scorpio Mining Corporation |
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