Ressources Appalaches 2013 Review and Strategic Goals for 2014
09 Janvier 2014 - 7:38PM
Marketwired
Ressources Appalaches 2013 Review and Strategic Goals for 2014
RIMOUSKI, QUEBEC--(Marketwired - Jan 9, 2014) - Ressources
Appalaches (TSX-VENTURE:APP)(FRANKFURT:OU3), would like to recount
the work done and significant progress achieved during 2013 and
update on the strategic goals for 2014 developing the Dufferin Gold
Mine in Nova Scotia.
In 2014 the Company will start gold production to reach its
installed capacity of 300 tons per day. The Company has well
defined strategies to reach these goals:
- The path to production will continue in January with new hiring
of operators, miners, electricians, mechanics and security staff to
complete the planned number of 70 employees.
- The company will continue refining the engineering work for
mining plan, ventilation system and tailings management for the
Company's cost optimisation and good compliance standing.
- The Company is planning to do underground development and to
complete the installation of new equipment in the mill during the
first quarter in order to start the ore production by the end of
Q1.
- Ramping up the production to reach the full practical capacity
of the mill by the third quarter.
- During the period, an important geological program will be made
to bring a quality mining process to the mine and to increase
resources along the anticline strike length.
Ressources Appalaches' team successfully completed the goals for
the year 2013 as detailed below:
- The Company completed the acquisition of 100% of the East
Dufferin property, adjacent to the Dufferin mine. The Company
properties now covers anticline structure over 8.4 km long, of
which 1.4 km has been drilled to depths upwards to 400m (see Press
Release March 20, 2013).
- The Company announced the closing of the first tranche of a
U.S. $10 million loan, receiving the first $2.5 million (U.S.)
tranche on May 8.
- The Company was successfully listed on the Frankfurt Stock
Exchange (FWB) under the ticker symbol OU3.
- Industrial Approval from the Province of Nova Scotia was
received on November 27, 2013. This last authorisation will lead
Ressources Appalaches from a junior exploration company to a mining
company on a clear path to produce gold.
- The Company announced the closing of the second tranche (U.S.
$7.5 million) of its US$10M loan financing on December 2nd, secured
for gold production at the Dufferin mine.
- The Company's recruiting efforts resulted in experienced
professionals for positions as Financial Controller, Administration
Officer, Deputy Mine Manager, Senior Mining Engineer, Mill
Superintendent, and Operation Geologist, as well as Administrative
staff and site services. The Company also welcomed Mr Jose Oro as a
new director.
- Rehab of Portal and the technical preparations to start working
underground (see Press Release Jun 17, 2013) was completed.
- A group of contracts were awarded for construction of the
crusher building, tailings facility upgrade and fuel storage
facility. The mill was partly refurbished and the remainder of the
shaker table, falcon concentrator, filter press and induction
furnace have all been ordered for delivery during QI, 2014.
Mr. Jean Claude Morel has tendered his resignation as executive
Vice President and COO of Ressources Appalaches due to personal
reasons, effective today. The board of directors sincerely thanks
Mr. Morel for his contributions during his time with the company
and wishes him well in all his endeavours.
About Ressources Appalaches
Since it was created in 1994, the goal of Ressources Appalaches
has been to discover and develop deposits of base and precious
metals in Canada with an expertise targeted towards the Appalachian
geological formation in Québec and Nova Scotia. The Company is
mainly focused on the exploration and development of the Dufferin
Gold Mine in Nova Scotia.
Photos of the Dufferin Mine and its facilities are available on
the Company's website at: www.ressourcesappalaches.com.
The contents of this press release were prepared and reviewed by
Alain Hupé, Eng. A Qualified Person as defined in NI 43-101.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts any responsibility for the adequacy or
accuracy of this release.
The contents of this press release were prepared and reviewed by
Alain Hupé, Eng. A Qualified Person as defined in NI 43-101.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts any responsibility for the adequacy or
accuracy of this release.
This press release may contain certain forward-looking
statements that include elements of risk and uncertainty.
Consequently, actual results may differ substantially from those
anticipated in such statements. These risks and uncertainties are
described in the quarterly and annual reports, and in the documents
submitted to the securities administration.
Alain Hupe, Eng.President and
CEO418-724-0901info@ressourcesappalaches.com
(TSXV:APP)
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