Campbell Resources begins production from Merrill Island pit, mining scheduled to begin at Corner Bay shortly
23 Octobre 2007 - 9:29PM
PR Newswire (US)
MONTREAL, Oct. 23 /PRNewswire-FirstCall/ -- Campbell Resources Inc.
(the "Company") ("Campbell") (TSX: CCH, OTC Bulletin Board: CBLRF)
reports that the Merrill Island open pit is in operation with
copper concentrate being shipped some six weeks after obtaining the
environmental permit authorizing the operation. With the positive
results achieved to date, the Company plans to increase monthly
production from Merrill Island by 50% over the initial proposed
rate. Drilling began on September 17th. On October 6th, the first
blast was completed to generate some 50,000 tons of ore to be
crushed and trucked to the nearby Copper Rand mill. Milling of the
first ore from Merrill Island took place on October 15th. In the
last week, some 6,600 tons of Merrill Island ore have been milled,
with grades averaging 0.459% Cu, 0.014 oz/t Au and 0.125 oz/t Ag.
Mill recovery was slightly above 90% for copper. A total of 160
tons of concentrate averaging 17.4% Cu was produced during the
week. With the success to date at Merrill Island, Campbell is now
planning to produce 30,000 tons of ore per month from Merrill
Island, up from the 20,000 tons per month initially planned. "We're
very pleased with the smooth start-up at Merrill Island, which
represents the first part of our strategy to increase mill
throughput and lower unit costs," said Andre Fortier, Campbell's
President and Chief Executive Officer. "In addition to the Merrill
Pit, development is moving ahead rapidly at Corner Bay, and we
expect to soon begin shipping the 42,000 ton bulk sample averaging
3.7% copper at a rate of about 450 tons per day to the Copper Rand
mill." In addition to the concentrate being produced, the tonnage
produced at Merrill Island is having a positive impact on
backfilling at the Copper Rand mine and on milling costs for the
Copper Rand mill. The paste fill plant has progressed significantly
towards its planned capacity of 60 tonnes per hour during the last
week. A total of 3,800 tonnes were thus sent underground at Copper
Rand during the week. Moreover, the substantial increase in ore
treated has a significant impact on reducing unit costs for the
Copper Rand ore. Campbell is a mining company focusing mainly in
the Chibougamau region of Quebec, holding interests in gold and
gold-copper exploration and mining properties. Certain information
contained in this release contains "Forward-Looking Statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 and is subject to certain risks and uncertainties,
including those "Risk Factors" set forth in the Campbell's current
Annual Report on Form 20-F for the year ended December 31, 2006.
Such factors include, but are not limited to: differences between
estimated and actual mineral reserves and resources; changes to
exploration, development and mining plans due to prudent reaction
of management to ongoing exploration results, engineering and
financial concerns; and fluctuations in the gold price which affect
the profitability and mineral reserves and resources of Campbell.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
Campbell undertakes no obligation to release publicly any revisions
to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect unanticipated
events or developments. DATASOURCE: CAMPBELL RESOURCES INC.
CONTACT: Campbell Resources Inc.: Andre Fortier, President and
Chief Executive Officer, (514) 875-9037, Fax: (514) 875-9764, ;
Alain Blais, Vice-president and General Manager of Operations,
(418) 748-7691, Fax: (418) 748-7696, ; Renmark Financial
Communications Inc.; Henri Perron: ; Julien Ouimet: , (514)
939-3989, Fax: (514) 939-3717, http://www.renmarkfinancial.com/
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