Lappland Goldminers report updated ore reserves and mineral resources at the Pahtavaara goldmine.
(Thomson Reuters ONE) -
· The update will result in an extension of the life-of-mine at
Pahtavaara.
The ore reserves 1 January, 2010 are 678,000 tonnes with 2,79 grams of gold per
tonne. During 2009 the underground production of ore was 307,000 tonnes.
Exploration drillings, that have been carried out since Lappland Goldminers took
over the operation, have partly replaced the mined out tonnage. During 2009
around 220,000 tonnes have been added to the mineral reserves.
The estimates do not include the near-by Länsi mineralization. Eight drill holes
from the autumn drilling progam at Länsi were not logged and analyzed as of
year-end 2009.
Kjell Larsson, CEO comments:
"It is very pleasing to be able to demonstrate that we are on the right track
for the Pahtavaara operations. With increasing exploration efforts during 2010
we are optimistic we can further increase the reserves and continue the mining
operations for several years going forward."
For a complete report regarding the estimates of the ore reserves and mineral
resources please see the attached document to this news release.
For further Information:
Kjell Larsson, CEO Anders Haker, CFO
Tel. 0950-275 06, 070-385 03 57 Tel. 070-810 85 59
kjell.larsson(at)lgold.se anders.haker(at)lgold.se
Or see: www.lapplandgoldminers.com
About Mangold Fondkommission: www.mangold.se
Lappland Goldminers AB is a producing mining company with significant
exploration activities. The Company is listed on the market place First North
Premier under the name GOLD, with Mangold Fondkommission AB as Certified
Adviser, as well as on the Norwegian OTC list. Lappland Goldminers' strategy is
to develop mineral deposits into profitable producing mines. The Company is
strategically positioned with the Blaiken Gold Operation and the fully permitted
Fäboliden Gold Project in northern Sweden, with the Pahtavaara Gold Operation in
the north of Finland and with gold deposits in the Haveri area in the south of
Finland. Lappland Goldminers is a member of SveMin, the Swedish association for
mines, minerals and metal producers, and follows SveMin's reporting rules for
public mining and exploration companies.
[HUG#1386148]
Resource estimation_Pahtavaara_2010: http://hugin.info/134992/R/1386148/344802.pdf
Press release (PDF): http://hugin.info/134992/R/1386148/344801.pdf
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Datum: 18.02.2010 - 10:18 Uhr
Sprache: Deutsch
News-ID 1010580
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