Lappland Goldminers AB - New estimation of gold mineral resource in
Blaiken and revised production p
(Thomson Reuters ONE) - Lappland Goldminers has made the company's first mineral resourceestimation for gold within the Ersmarksberget mining permit. Measuredand indicated mineral resource to date, is 448,000 tonnes with 2.85grams gold per tonne. The mineralisation is open towards depth. Itallows for continuous mining at Blaiken facility for a longer periodof time, starting at the earliest, mid 2010.The estimation of the mineral resource is made by the independentconsultant Thomas Lindholm of GeoVista AB. Estimation is based onpreviously conducted drilling, but also on new drilling made byLappland Goldminers in the southern part of the deposit. The size andlocation of the mineralisation allows for mining production both inopen pit operation as well as underground.The company's assessment is that gold production from of the mineralresource should be carried out in a continuous period of time inorder to maximize efficiency and profitability. Planning of mineproduction should aim at optimizing economics of the large Blaikenplant capacity.Planning of the operation and site preparation has begun targeting astart of production at the earliest in mid 2010The revised plan for Blaiken means that gold production for the restof 2009 will only be from the Pahtavaara mine as production fromErsmarksberget is now scheduled for 2010.Until end of the third quarter, 479 kg of gold has been produced.Full year production is estimated to be about 700 kg and willtherefore not reach the previously announced plan for a production of900 kg of gold for this year.BackgroundLappland Goldminers can after reviewing and verifying the materialfrom the drilling performed by the previous owner of the deposit andNSG-Cogema drillings during 1989-1992, and after drilling andcompiling the results from new diamond drillholes drilled during 2009by Lappland Goldminers in the South 1 mineralization present mineralresource in the Centrala and South 1 Au-mineralization atErsmarksberget.Resource evaluation Ersmarksberget Centrala and South 1.pdfEstimation of the mineral resource is done by Inverse Distance. Assaysections are composited to 2 m and top-cut used is 8,00 g/t Au. Modelcut-off is 0.5 g/t Au.Estimation of the mineral resource at Ersmarksberget is done byThomas Lindholm, GeoVista AB, independent consultant and by Sveminand FAERI registered as qualified person, (QP), in co-operation withRisto Virkkunen, Chief Geologist at Lappland Goldminers and by Sveminand FAERI registered as qualified person, (QP).Lappland Goldminers has identified from the existing drillhole datagold anomalous areas witin the exploitation concession atErsmarksberget. These areas are going to be controlled with coredrilling and the results compiled after the drilling is finished.Ersmarksberget gold mineralization is located in the northern part ofthe so called Gold Line in the county of Västerbotten. Ersmarksbergetis located in the northern part of the Bothnian Basin consistingmainly of metagreywackes and metapelites, and minor maficmetavolcanites. The supracrustal rocks have been intruded by severalgenerations of granitoids and gabbros in minor extent during theSvecokarelian orogeny.The gold mineralization at Ersmarksberget occurs in a north-southtrending discontinuous quartz vein of varying width. The quartz veinlies in the contact between a tonalite (Juktan Dome) andmetagreywackes. Gold occurs mainly as free gold and is associatedwith north-south trending shear zones. The mineralized bodies aresmall sub-vertical horizons.For additional information:Kjell Larsson, CEO Ulf Ericsson, Chairman of the BoardTel. +46 950-275 06, + 46 70-385 03 Ph: +46 70-529 09 5957kjell.larsson(at)lgold.se ulf.ericsson(at)lgold.seAlso visit: www.lapplandgoldminers.comAbout Mangold Fondkommission: www.mangold.seLappland Goldminers AB is an exploration company with producingmines. The Company is listed on the market place "First NorthPremier" under the name GOLD, with Mangold Fondkommission AB asCertified Adviser, as well as on the Norwegian OTC list. LapplandGoldminers strategy is to develop into a profitable, producing goldcompany, with centrally located processing plants in gold regions.The company is strategically positioned with the Blaiken GoldOperation and the fully permitted Fäboliden Gold Project on theVästerbotten Gold Line in Sweden, with the Pahtavaara Gold Operationin the north of Finland and with its gold projects in the Haveri areain south of Finland. The processing plants will be supported by orefrom one or several mines either through the Company's ownexploration or through acquisitions. Lappland Goldminers is a memberof SveMin, the Swedish association for mines, minerals and metalproducers, and follows SveMin's reporting rules for public mining andexploration companies.http://hugin.info/134992/R/1351051/326357.pdfhttp://hugin.info/134992/R/1351051/326358.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 29.10.2009 - 08:30 Uhr
Sprache: Deutsch
News-ID 7594
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