News Column

Mining Investments Resources Says Initial Taezhny Results Favourable

July 1, 2014

Samuel Agini

LONDON (Alliance News) - Mining Investments Resources PLC Tuesday said that the grade of silver equivalent, including the gold as a by-product based on current gold and silver prices, indicates a silver equivalent grade of around 90 grams per tonne, after SGS Minerals Services provided the initial assaying results of the tailings survey at the Taezhny Silver Mine in the Primorsky region of Russia.

The average tailings grade based on the drill hole data, on a length weighted basis, is approximately 84 grams per tonne of silver and 0.1 grams per tonne of gold, though these averages are non-Joint Ore Reserves Committee compliant.

The average grade calculated by Saint Barbara LLP from old mine production records was 68 grams per tonne.

"MIR's metallurgical testing has the objective of evaluating the ability to recover silver and gold from the tailings through gravity and/or additional flotation and whether it would be advantageous to install cyanide recovery at the Taezhny Mine. The results of gravity tests on the tailings are expected in the near future," the company said in a statement.

Mining Investments Resources shares were suspended on January 20 at its own request, pending the publication of an admission document for the proposed acquisition of the Taezhny Mine.

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Source: Alliance News

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