Apr 06, 2010 09:38 ET
Century Prepares for First Gold Pour on Schedule at Lamaque Gold Project
BLAINE, WASHINGTON--(Marketwire - April 6, 2010) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) is pleased to provide a progress update at its 100% owned Lamaque gold project located in Val-d'Or, Quebec, Canada. The Company is fully financed for the reopening of the Company's Lamaque gold project, and is on schedule and budget for its first gold pour in the second quarter of 2010.
Since reopening the Lamaque gold project in early January 2010, the Company has rehired and brought on a mining team in excess of 115 employees, and continues to fill vacant positions. The underground development crews continue to make excellent progress by re-opening the existing workings and are currently mining in #90 and #107 stopes, gearing up for the opening of #115 stope, and mining in several jumbo development headings that are located in ore. The crews continue to slash areas of the underground workings and main ramp to allow access for larger mine vehicles to reach the deeper ore zones, and have completed the installation of the new ventilation infrastructure. The development crews continue to stockpile underground ore at surface next to the crusher in preparation of production.
The Company has received a significant amount of the new equipment required for the re-opening of the Lamaque gold mine including the jaw crusher, cone crusher and crusher motors for the milling facility, and a 6 yard scooptram, a single boom jumbo drill, a 35 tonne truck, two scissor lifts and a boom truck for use underground. The new low profile equipment is expected to arrive on site in April, and the engineering team is in the process of procuring and installing the long term mine electrical system. Additional mine equipment not required at the Lamaque mine, including a two boom jumbo drill, small scooptram, two small underground trucks, and multiple jacklegs are being readied for shipment to the Company's San Juan gold mine in Peru to assist in the modernization and expansion of that operation.
The milling team continues to make significant progress as they complete the modifications within the Lamaque mill facility and maintain the refurbishment on schedule. The 3,000+ tonne per day milling facility is expected to commence grinding test runs on April 8, 2010 in preparation for mill feed throughput from the stockpiled ore mined underground since March 1, 2010. As indicated earlier in the year, gold production is expected by the end of May 2010, but with the current progress both on surface and underground, the first gold pour could be brought forward if operations continue at the current rate. The engineering and operational teams continue to monitor this situation and will adjust mine plans accordingly.
Information and data received from the February 2010 exploration and definition drill program on the Bedard Dyke has assisted in the completion of the mine plan and block model for the upcoming underground development program in the Bedard Dyke zone. The current design is being reviewed by Golder Associates for rock mechanics, and the Company is currently implementing the staffing plan and services engineering and design for the project. The development crews are currently preparing to secure the ground above the Bedard Dyke portal area, level the pad in front, and finalize the purchase of the required electrical equipment. The Bedard Dyke is the second zone in the mine plan to be developed through long-hole open-stoping, which will subsequently increase the daily tonnage. The Company is currently finalizing the mine plans for the third zone, named the North Wall, which will be mined with the same method and is expected to be developed in the latter part of 2010. All three areas, Lamaque #2, Bedard Dyke and North Wall, are all accessed via the historical Sigma pit.
The Company is finalizing the upcoming 150,000 foot (45,700+ meter) exploration and definition drill program at Lamaque, which is expected to commence in May 2010 and continue over a three-year period. Historically the Sigma mine was developed to the 6,100 foot level and the Lamaque mine to the 3,500 foot level. The Company believes that the gold mineralization continues to depth beneath both areas, and historically the grade has increased as the mine was developed deeper. The onsite assay lab is now fully operational and will be essential to ensure that accurate and timely sampling from the mine stope development continues without delay, and will also play a key role in ensuring assays are received from the drill program.
Members of the environmental team are preparing plans for waste dump reclamation and expect to commence the removal of material in the second quarter of 2010. Century is taking the steps and making the required investments to minimize the visible areas of the mine from the town and to also control any potential dust from the site. The Company has also arranged the sale of approximately one million tonnes of waste material from the waste dump on site, which will be used as road material offsite by an external contractor.
Senior management continues to focus its energy on the reopening of the Lamaque gold mine. Upon the first gold pour and successful commencement of operations at Lamaque, the Company will ramp up exploration efforts on priority targets and take action on its corporate strategy of reviewing synergistic gold opportunities to take the necessary steps to becoming a mid-tier gold producer.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Margaret M. Kent, President & CEO
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