- Published: 08 April 2009
- Written by Editor
Dynasty Begins Commissioning Zaruma Gold Plant
Dynasty Metals & Mining Inc. (TSX:DMM) ("Dynasty" or the "Company") is pleased to announce it has commenced the commissioning of its gold processing plant at Zaruma, in the El Oro Province of south-western Ecuador.
The plant will be commissioned in phases, starting with the crushing section which is currently being tested. The ball mills will be tested later this month and by the end of the month the Company expects to run and test the full circuit. Plant commissioning and mine development will continue for approximately three months, after which time the Company plans to process 800 tonnes of material per day, which is approximately 300,000 tonnes per annum. The installed capacity of the plant, except for the wet section, is approximately 800,000 tonnes per annum, allowing for considerable expansion without significant additional capital cost.
It also provides the opportunity for the Company to process material with lower than planned resource grades to generate additional ounces in a rising gold market.
Mine development activities continue as scheduled. The Company has opened two declines, from which material is presently being mined. A third decline is under construction. The mining and delivery of material to the plant will be stepped up in time to meet the Company's planned production schedule.
Recently updated photographs of the Zaruma Gold Project are available on the Company's website at www.dynastymining.com.
About Dynasty Metals & Mining
Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador.
The Company has the near production Zaruma project, the advanced-stage Jerusalem project, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield.
Dynasty Metals & Mining Inc.
Robert Washer, President and CEO
This news release includes "forward-looking information", as such term is defined in applicable securities laws. Users of forward-looking information are cautioned that actual results may vary from forward-looking information contained herein. The forward-looking information includes, without limitation, the anticipated dates that the different phases of commissioning will be completed, the amount and grade of material that the Company plans to process, the timing and ability of the Company to mine and deliver material to the processing plant and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking information was developed using the material factors or assumptions stated herein. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of gold, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Known risk factors include, among others, risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; uncertain mining legislation; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Ecuador; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties, including those described in the Company's Annual Information Form dated March 25, 2009 filed with the Canadian Securities Administrators and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information except as required by law.
SOURCE: Dynasty Metals & Mining Inc.