Re: News Releases - Wednesday, November 12, 2008
Title: Gold-Ore Continues to Increase Gold Production at Bjorkdal
News Release 08-15
Gold-Ore Resources Ltd is pleased to provide October operational highlights for the 100% owned Bjorkdal Gold Mine in Sweden. Gold production has increased dramatically during 2008 and reached an annualized rate of 34,992 ounces in October. Gold-Ore is focused on increasing cash flow and production from the mine and remains debt-free, unhedged and cash flow positive.
October, 2008 Gold Production
October gold production at the Bjorkdal Mine increased significantly from previous months. A total of 2,916 ounces was produced, which equates to an annualized production rate of 34,992 ounces. This increased productivity is directly related to increased grades and tonnages achieved from stopes and on-vein drives in the underground unit of the mine.
| October, 2008 |
|
|
Tonnes processed |
96,273 |
| Daily throughput |
� tonnes |
3,106 |
| Gold recovered |
� ounces |
2,916 |
| |
� kilograms |
90.7 |
|
Average plant recovery |
88% |
Click to Enlarge
Gold production at Bjorkdal is achieved by processing material from three sources: underground, open pit and surface stockpiles. During September and October the underground unit produced at the average rate of 1,030 tonnes per day, the open pit at 857 tonnes per day and the stockpiles at the rate of 1,252 tonnes per day.
Operational ObjectivesDuring the next few months the Company plans to evaluate or complete the following objectives:
- Complete test mining of stopes - currently three completed and three underway
- Complete on-going feasibility study utilizing stope mining results
- Declare commercial production
- Develop the Central Tunnel area where historic mining and diamond drilling demonstrate higher gold grades
- Evaluate development of decline to access a lower level (cost CDN$1.1 million, SEK$7.0 million) to provide sufficient plant feed from the underground unit for 2009
- Increase open pit production to decrease reliance on stockpiles
- Plant upgrade - install a second Knelson Concentrator in 2009 (ordered in Sept.) to improve gold recovery
About Gold-OreGold-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.
For more information please contact Glen Dickson, Bob Wasylyshyn or Ron Ewing at (604) 687-8884. Bjorkdal property information is posted on the Company's web site at
www.goldoreresources.comON BEHALF OF THE BOARDRobert Wasylyshyn, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.
- View News Release in PDF Format:
http://www.goldoreresources.com/i/pdf/2008-11-12_NR.pdf
- 74 KB in size, approx. 15 seconds to download at 56.6Kbps
Copyright � 2008 GOLD ORE RESOURCES LTD. (GOZ) All rights reserved. For more information visit our website at
http://www.goldoreresources.com/ or send email to
info@goldore.ca ..
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Gold-Ore Resources Ltd.
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PRODUCTEUR |
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CODE : GOZ.TO |
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ISIN : CA3809811001 |
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Gold-Ore Res. est une société de production minière d'or basée au Canada. Gold-Ore Res. est en développement de projets d'or, d'argent, de cuivre, de plomb et de zinc en Suede, et détient divers projets d'exploration en Suede. Son principal projet en production est BJÖRKDAL en Suede, son principal projet en développement est NORRLIDEN en Suede et ses principaux projets en exploration sont VALLBERGET et RONNBERGET en Suede. Gold-Ore Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 69,2 millions CA$ (67,3 millions US$, 51,1 millions €). La valeur de son action a atteint son plus bas niveau récent le 23 novembre 2001 à 0,04 CA$, et son plus haut niveau récent le 31 décembre 2010 à 1,14 CA$. Gold-Ore Res. possède 85 467 000 actions en circulation. |