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Gold from Million Mountain project to go on sale next month

Feb 26, 2010 News

Sacre-Coeur Minerals, Ltd. a Canadian Mining Company, has announced that it will commence sale of gold from its Million Mountain project in the Mazaruni District within the next three weeks.
In a press release on Wednesday, Gregory Sparks, President and CEO stated that the Company had achieved the objectives of its test mining programme; that bottle necks in the refining system
are being eliminated and as a result sales of finished gold are expected to commence by early March, and continue thereafter on a regular basis.
Sacre-Coeur Minerals presently has an interest in approximately 1000 sq. km of mineral properties in Guyana, including its flagship Million Mountain Property consisting of 21 permits and covering some 21,768 acres in the lower Puruni region in the Mazaruni Mining
District.
The production and sales would be the first by a large scale mining company since the departure of Omai gold mines in 2005 and the development is expected to impact significantly on overall production and revenue from the gold mining sector.
CEO Sparks disclosed that the completed test mining programme had focused on providing a bulk sampling opportunity to confirm the adequacy and accuracy of the initial test pitting program; examining the distribution and character of gold contained in the various alluvial strata; determining the material handling characteristics of the overburden and the alluvial zone to optimize for production scale mining operations and developing the most effective concentrate refining techniques and parameters.
Based on the results, it was determined that stripping of overburden was best accomplished with track mounted excavators, while mining of the alluvial zone would be more effective using water jets. It was noted that the use of water jets to extract the alluvial pay zone permits thorough and precise “cleaning” of the high grade, coarse gold typically found at the bedrock interface.
It also reduced the role of heavy equipment in the mining operation, creating cost efficiencies through savings on equipment costs and the need for skilled heavy equipment operators.
Sparks disclosed that the Company was very pleased that the test mining programme had fulfilled its objectives and that they are now able to ‘confidently prepare for full scale ongoing production…’
He disclosed that though cost estimation for gearing up with the revisions as described is just beginning, the total costs are expected to be relatively modest, at less than CAD $200,000.
He stated “Our strategy is to continue operating the test mining operation as a pilot plant to gather additional information and generate revenue while we are preparing the equipment for regular production as described”.
Full and regular production is expected to begin by May 2010.
In the meantime, in addition to modifications being implemented in the mining system, bottlenecks in the refinery are being eliminated to permit processing of all gravity concentrates as produced, to shorten the “pipeline” time to gold sales to early March, he stated.

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