Ressources Appalaches Inc.: Dufferin Mine Dewatering Progresses to Expose Portal
28.05.2013 | Marketwire
RIMOUSKI, May 28, 2013 - Ressources Appalaches (TSX VENTURE:APP) report that it has started its second week of dewatering operations and more importantly has filed for production permit approval to restart gold mining activities within the coming months. Last week's filing of the production permit application (officially referred to as an Industrial Approval application) is the only remaining pending permit requirement in order to resume gold production at Dufferin Mine. Concurrently, rehabilitation of underground galleries and the launching of the final stage of the mill refurbishment works have begun.Pictures relating the progress of dewatering operations and rehabilitation activities can be found on the Company's website at: http://www.ressourcesappalaches.com/project.php?page=14.
Path to Production
The Company is also preparing for a site visit by the financiers of the Dufferin Mine Project for a two day progress assessment. The purpose of the on-site visit is to evaluate the latest path to gold production developments against the stipulations for the final disbursement of funds of US $7.5 million (see press releases of May 08 & 14, 2013).
The final disbursement of US $7.5 million will provide the necessary funds, including the initial operating capital, to restart gold production with the existing milling, underground workings and support infrastructure.
The lesser amount of necessary capital to restart gold production is only possible due to a maintenance of the majority of the Dufferin Mine facilities over the past years. Equally significant is the access to the mineralised zone by decline eliminating the requirement for shaft construction and complex extraction methods. There are no other significant capital expenditure required in order to restart production in 2013. Initial acquisition costs which were finalised debt-free in 2011 rendered 100% of the Dufferin Mine and its claims to Ressources Appalaches.
About Ressources Appalaches
Since it was created in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada with an expertise targeted towards the Appalachian geological formation in Québec and Nova Scotia. The Company is mainly focused on the exploration and development of the Dufferin Gold Mine in Nova Scotia.
Photos of the Dufferin Mine and tis facilities are available on the Company's website at: www.ressourcesapplaches.com.
The contents of this press release were prepared and reviewed by Alain Hupé, Eng. A Qualified Person as defined in NI 43-101. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.
This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such statements. These risks and uncertainties are described in the quarterly and annual reports, and in the documents submitted to the securities administration.
Contact
Ressources Appalaches Inc.
Alain Hupe, Eng., President
Jean-Claude Morel, Executive Vice-President
418-724-0901
info@ressourcesappalaches.com