Infill drilling results support the start-up schedule of the Pampalo Gold Mine
(Thomson Reuters ONE) -
The press release including tables and pictures can be downloaded from the
following link:
Press Release PDF
Endomines AB's wholly owned subsidiary Endomines Oy has received all results
from a diamond core drilling campaign at the Pampalo underground gold mine in
Ilomantsi, Eastern Finland. The results support the production start-up schedule
of commencing test production in the end of 2010 and full-scale production in
the first quarter of 2011.
Totally 43 holes and 2,727 meters infill drilling campaign was undertaken to
confirm ore delineation before full-scale underground development and stoping.
All results are listed in the Table 1 and intersection locations are shown in
the Figure 1.
High grade drill intercepts received from diamond core drilling at the Pampalo
underground mine includes:
* 3.35 m (at) 33.40 g/t gold
* 2.95 m (at) 14.58 g/t gold
* 11.90 m (at) 4.16 g/t gold
* 2.4 m (at) 38.23 g/t gold
* 10.55 m (at) 5.40 g/t gold
* 20.2 m (at) 2.54 g/t gold
* 33.65m (at) 5.19 g/t gold
"This recently completed infill drilling campaign will basically allow us to
bring Pampalo underground mine to production without any additional diamond core
drilling. The first two-three years ore reserves have now been delineated with
high accuracy. This campaign has also brought out some new ore grade
intersections outside the earlier known main lenses," CEO Markus Ekberg comments
the results.
"The next step will be to include the drilling results to a new ore reserve
estimation, which will commence in May 2010. As the gold price has improved
significantly during last years, the new ore reserve calculation will be done
with a cut-off grade of 1 g/t, which is significantly lower than the earlier
used 2.5 g/t"; Ekberg clarifies.
Underground mine development is progressing as planned - first ore rounds have
been blasted and trucked to the surface ore stockpile. Processing plant and
other infrastructure construction is also on schedule and according the budget.
For further information, please contact:
Markus Ekberg, CEO of Endomines AB, tel. +358-40-706 48 50
During 2009 Endomines has taken several important steps to develop the business
from exploration to full-scale gold production. By the end of 2010, the company
will commence production at the Pampalo Gold Mine, with a projected output of
900-1.000 kg of gold per annum. Other deposits along the Karelian Gold Line will
be exploited subsequently. Endomines has additional claims and mining
concessions in Finnish Lappland (gold, Ostrobothnia (ilmenite) and Southern
Finland (limestone/wollastonite).
Endomines applies SveMin's & FinnMin's respective rules for reporting (public
mining & exploration companies). Endomines has chosen to report mineral
resources and ore reserves according to JORC or NI 43-101-code which are
internationally accepted. Endomines applies International Financial Reporting
Standards (IFRS). as approved by the European Union.
The shares of Endomines AB are quoted on First North Premier segment in
Stockholm under ticker ENDO.ST. Erik Penser Bankaktiebolag acts as Certified
Adviser and Liquidity Provider.
Read more about Endomines onwww.endomines.com
[HUG#1409819]
Press Release PDF: http://hugin.info/138043/R/1409819/362409.pdf
Unternehmensinformation / Kurzprofil:
Datum: 29.04.2010 - 09:07 Uhr
Sprache: Deutsch
News-ID 19949
Anzahl Zeichen: 0
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Infill drilling results support the start-up schedule of the Pampalo Gold Mine"
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