The bank loan consists of a secured 6 year loan of
Construction of four re-usable heap-leach pads with 28,000 tonnes total capacity is underway. Full implementation is expected over five months, during which the existing high-grade plant will continue with regular gold sales and stockpiling of low-grade mineralization.
A series of heap-leach tests has been completed in 2014 on existing mineral stockpiles and has confirmed recoveries up to 95%, averaging 70% within approximately a 30 day heap leach period. The Company already has over 12 months of heap leach stockpiles (140,000 tonnes at 0.6 - 0.8 g/t gold) on site and expects to replenish these stocks with the ongoing open pit bulk-sampling operations.
The Company is not basing its production decision on a feasibility study of mineral reserves demonstrating economic and technical viability and is required to advise the reader that there is no certainty the proposed operations will be economically viable.
About the Company:
The Company holds a 100% interest in an on-site concentrator plant (mill) at the fully permitted
The Company holds 100% of the adjacent Paso Yobai X-Mile Trend exploration concessions, the present exploration focus. The Company also holds 100% interests in highly prospective diamond, REE, niobium and green-fields gold projects in
The Company's public documents may be accessed at www.sedar.com.
For further information, please visit our website at www.latinamericanminerals.com or email us at firstname.lastname@example.org.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements unless required by securities law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Miles Rideout, President and CEO Toronto: (1-416) 902-8558 email@example.com Source: Latin American Minerals Inc.