Creston Moly Corp.: Independent Engineering Firm to Provide Feasibility Study on El Creston Molybdenum Deposit, Mexico
January 06 2011 - 5:57PM
Marketwired
Creston Moly Corp. ("Creston" or the "Company") (TSX VENTURE: CMS)
is pleased to announce that it has engaged Aker Solutions for the
provision of a feasibility study on its El Creston molybdenum
deposit, located in the state of Sonora, Mexico.
The feasibility study will be focused on the economic viability
of developing the El Creston Project as outlined in the recently
released preliminary economic assessment dated December 16, 2010
entitled "Preliminary Economic Assessment, El Creston Project,
Opodepe, Sonora, Mexico", which was filed on SEDAR on December 21,
2010 and is available on SEDAR at under Creston's profile (the
"PEA").
The PEA does not contain mineral reserves and the Company will
not be relying on the mineral reserves from its pre-feasibility
study dated March 23, 2009 in respect of the development plan on
which the feasibility study will be focused. The Company therefore
expects that initial mineral reserves for the development plan as
envisioned in the PEA will be established upon completion of the
feasibility study.
The Company anticipates that the feasibility study will result
in a National Instrument 43-101 compliant technical report and
reserve estimate, after taking account of all relevant processing,
metallurgical, economic, marketing, legal, environment,
socio-economic and government factors.
Aker Metals, a division of Aker Solutions Canada Inc. through
"Aker Solutions", is a leading global provider of engineering and
construction services, technology products and integrated
solutions. Aker Solution's business serves several industries,
including oil & gas, refining & chemicals, mining &
metals and power generation.
Aker Solutions is an experienced feasibility provider and has
completed feasibility studies for major projects including the
Collahuasi Copper Project, Peru Copper's Toromocho Project,
Continental Minerals' Xietongmen Copper Project, Mongolyn Alt
Corporation's Tsagaan-Suvarga Copper Moly Project and Minera
Lumina's Caserones Project.
On Behalf of the Board of Directors
CRESTON MOLY CORP.
D. Bruce McLeod, President & CEO
Forward-Looking Statements
This document may contain "forward-looking statements" within
the meaning of Canadian securities legislation and the United
States Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made as of the date of this document
and Creston does not intend, and does not assume any obligation, to
update these forward-looking statements.
Forward-looking statements relate to future events or future
performance and reflect Creston management's expectations or
beliefs regarding future events and include, but are not limited
to, statements with respect to the estimation of mineral reserves
and resources, the realization of mineral reserve estimates, the
timing and amount of estimated future production, costs of
production, capital expenditures, success of mining operations,
environmental risks, unanticipated reclamation expenses, title
disputes or claims and limitations on insurance coverage. In
certain cases, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. By their very nature
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Creston to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such factors include,
among others, risks related to actual results of current
exploration activities; changes in project parameters as plans
continue to be refined; future prices of resources; possible
variations in ore reserves, grade or recovery rates; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities; as well as those factors
detailed from time to time in Creston's interim and annual
financial statements and management's discussion and analysis of
those statements, all of which are filed and available for review
on SEDAR at www.sedar.com. Although Creston has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, 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 statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such
statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Creston Moly Corp. Mr. Bruce McLeod President &
CEO 604-687-7545 (TEL) or (888)338-2200 (TOLL FREE) Creston Moly
Corp. Chris Curran Investor Relations 604-687-7545 (TEL) or
(888)338-2200 (TOLL FREE) Creston Moly Corp. Ken MacDonald
604-694-0005 604-689-5041 (FAX) www.crestonmoly.com
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