cmc-ss

CMC partner files updated mine plans for Radcliff

RSS
Facebook
Instagram

2016-07-27 08:49 ET – News Release

Mr. Jack Bal reports

UPDATE ON BISHOP MILL OPERATIONS AND RADCLIFF PROPERTY JOINT VENTURE

Pruett-Ballarat Inc. (PBI), the mine operator and CMC Metals Ltd.’s joint venture partner at the Radcliff property, has filed an updated alternative small and remote mine rescue plan, escape and evacuation plan, and a ventilation plan (updated since the plan referenced in the news release dated Oct. 22, 2014), and has renewed national mine operating permits at the Radcliff mine located in the west-central portion of the Panamint range, Inyo county, near Ballarat, Calif.

PBI has also installed an upgraded ventilation system, including renewed anemometer and gas detection equipment. Preparations are in an advanced stage for restart of underground mining operations following the recent completion of MSHA (US Mine Safety & Health Administration) training and certification of miners (including surface training for surface support and Bishop Mill personnel) and the successful renewal of the PBI-held State mine blasting license. The current mine development has advanced the 5510-level drift into mineralized material, with long-run development potential remaining at the upper elevations (between the 4530 to 6580 feet elevation levels above mean sea level). Mining re-starts in an area of sampling-indicated high-interest mineralization, as reported by the Company on June 25, 2015. The Company’s business plan is to selectively mine “high grade” portions 1 of an indicated resource, with anticipated run-of-mine grade to be calibrated by sampling of faces prior to blasting, and sub-sampling of mined material at a run-of-mine sub-sampling plant located at the 5510-level portal. The sub-sampling station has been recently installed, subsequent to previous technical disclosure (refer NR of January 21, 2015).

In parallel with the work at the Radcliff Mine, the Company has been focused on planning and updated budget work to allow re-start of operations at its 100% owned Bishop Mill. The Company is working with the regulator at the California EPA, Regional Water Quality Control Board, Lahontan Region to finalize a vadose zone monitoring solution for the constructed tailings impoundment, such that the monitoring well base is located proximal to the tailing sump but will minimize disturbance of the as-built earthen containment construction and in-place liner. The supplier of a bird-netting solution has confirmed that a net has been shipped from Chicago: the Company continues to finalize wildlife protection requirements for the tailings facility. The plant team will re-staff in the near term, and is also reviewing technologies to allow the ‘dry’ capture and stacking of tailings.

COO Ian Graham commented: “The recently completed capital raise is permitting the Company to move forward on equipping, staffing and making bond arrangements for the Mill at Bishop, whilst simultaneously working with our partner Pruett-Ballarat Inc. to commence the mining of Mill feed: the Mill and mining JV teams are anxious to drive forward and deliver free cash flow in Q4, 2016.”

1 The presence of “high grade material” at Radcliff is documented in the NI43-101 compliant technical report filed on SEDAR. The mineral resources as stated January 9, 2013, remain current mineral resources.

We seek Safe Harbor.

Disclaimer© 2010 Junior Gold ReportJunior Gold Report’ Newsletter: Junior Gold Report’s Newsletter is published as a copyright publication of Junior Gold Report (JGR). No Guarantee as to Content: Although JGR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. JGR, its associates, authors, and affiliates are not responsible for errors or omissions. Consideration for Services: JGR, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in featured, written-up companies, as well as sponsored companies which compensate JGR. JGR has been paid by the company written up. Thus, multiple conflicts of interests exist. Therefore, information provided herewithin should not be construed as a financial analysis but rather as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. No Offer to Sell Securities: JGR is not a registered investment advisor. JGR is intended for informational, educational and research purposes only. It is not to be considered as investment advice. Subscribers are encouraged to conduct their own research and due diligence, and consult with their own independent financial and tax advisors with respect to any investment opportunity. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR may contain links to related websites for stock quotes, charts, etc. JGR is not responsible for the content of or the privacy practices of these sites. Release of Liability: By reading JGR, you agree to hold Junior Gold Report its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report does not take responsibility for accuracy of forward looking statements and advises the reader to perform own due diligence on forward looking numbers or statements.

Want the Best News?
Increase your wealth by staying informed:
Trend Alerts - Exclusive Articles - Videos
We respect your privacy.
RSS
Facebook
Instagram