Gold-Ore Announces Bjorkdal First Quarter Operational Results
March 17 2010 - 11:05AM
Marketwired
Gold-Ore Resources Ltd. (TSX VENTURE: GOZ) is pleased to provide
operational highlights for the first quarter of 2010 (three month
period ending February 28, 2010) at the 100%-owned Bjorkdal Gold
Mine in Sweden. During the period a total of 10,065 ounces of gold
were recovered and this marks the second consecutive quarter with
greater than 10,000 ounces recovered. Financial results from the
first quarter will be released within 45 days.
Note: To view the Quarterly Gold Production graph, please click
the following link:
http://media3.marketwire.com/docs/goz0317.pdf
Glen Dickson, CEO comments "Steady improvements at the mine have
generated another strong quarter and all indications are that cash
flow and gold production will continue to be strong over the coming
quarters. During the next few months the operations team will be
testing some new mining methods based on observations made by
senior staff at several Canadian underground gold mines. These
efforts are designed to reduce dilution, improve grades and gold
production and have the potential to make a significant positive
impact to the operation".
-------------------------------------------------
First Quarter - 3 Months ending February 28, 2010
-------------------------------------------------
Tonnes processed 277,952
-------------------------------------------------
Daily throughput - tonnes 3,088
-------------------------------------------------
Gold recovered - ounces 10,065
-------------------------------------------------
- kilograms 313.0
-------------------------------------------------
Average plant recovery 89.1%
-------------------------------------------------
Gold production during the period was on target at over 40,000
ounces on an annualized basis. Tonnes processed in the plant during
the first quarter were impacted by an unusually long cold period in
January and February resulting in a daily processing average of
3,088 tonnes per day. With improved weather in late February plant
throughput averaged over 3,300 tonnes per day in the first half of
March, and represents a 10% increase in tonnes processed and better
reflects capacity in the plant.
Stock Options
Gold-Ore Resources Ltd. has granted incentive stock options to
directors and employees to purchase up to 1,610,000 common shares
at an exercise price of $0.50. These options are exercisable for a
period of three to five years. The grant of the stock options is
subject to regulatory approval.
About Gold-Ore
Gold-Ore Resources is a gold mining and exploration company
focused in Sweden. The Company is generating positive cash flow, is
debt-free and un-hedged, and remains focused on increasing gold
production from the 100%-owned Bjorkdal Gold Mine. In addition to
Bjorkdal, the Company also has other assets in the country; the
Ronnberget Gold Property (adjacent to Bjorkdal) and the Norrliden
Polymetallic Deposit.
Bjorkdal property information is posted on the Company's web
site at www.goldoreresources.com.
ON BEHALF OF THE BOARD
Robert Wasylyshyn, President
This news release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements.
News Release 10-05
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Gold-Ore Resources Ltd. Glen Dickson (604) 687-8884
Gold-Ore Resources Ltd. Bob Wasylyshyn (604) 687-8884 Gold-Ore
Resources Ltd. Ron Ewing (604) 687-8884
www.goldoreresources.com
Gold-Ore Resources Ltd (TSXV:GOZ)
Historical Stock Chart
From Oct 2024 to Nov 2024
Gold-Ore Resources Ltd (TSXV:GOZ)
Historical Stock Chart
From Nov 2023 to Nov 2024