Aureus set for first gold pour from New Liberty in Q1 2015

18 March 2014 (Last Updated March 18th, 2014 18:30)

Aureus Mining has poured the concrete for the ball mill foundations at the process plant for its New Liberty gold mine in Liberia.

New Liberty gold mine

Aureus Mining has poured the concrete for the ball mill foundations at the process plant for its New Liberty gold mine in Liberia.

The remaining mill components are scheduled to arrive in June, with construction taking four to six months and commissioning in the fourth quarter of this year.

The company said its construction schedule remains on-track to deliver the first gold pour early in the first quarter of 2015.

Aureus Mining president and chief executive David Reading said the completion of the foundations for the ball mill is an important construction milestone in bringing New Liberty into production.

"Beyond the rapid progress being made on-site, we have enjoyed a strong working partnership with the local communities as well as the local and national Liberian Governments, all of whom have been intrinsic to the successful building of Liberia's first commercial gold mine," Reading said.

"Completion of the foundations for the ball mill is an important construction milestone in bringing New Liberty into production."

Aureus said the bank financing process remains on-track with first drawdown scheduled for April.

The New Liberty gold project has an estimated proven and probable reserve of 924,000oz of gold grading at 3.4g per tonne and an estimated measured and indicated mineral resource of 1.143 million ounces of gold grading at 3.63g per tonne.

The project also has an estimated inferred mineral resource of 593,000oz of gold grading at 3.2g per tonne.

Located within the southern block of the 100%-owned Bea Mountain mining licence, the project is anticipated to have an eight year mine life and annual production of 119,000oz for the first six years of production.


Image: The New Liberty gold project is anticipated to have an eight year mine life. Photo: courtesy of Aureus Mining.

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