Robex Resources Inc.: Nampala, Awarding of Contract for Feasibility Study
QUEBEC CITY, QUEBEC -- (Marketwire) -- 11/15/10 -- Robex Resources Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) is pleased to announce that renowned Canadian engineering consulting company Bumigeme was awarded the contract to perform the feasibility study for the Nampala project. The study, slated to begin in December 2010, will aim to confirm the economic viability of an open-pit mining operation through a cyanide treatment plant processing 5,000 tons per day, for an estimated annual production of 45,000 ounces of gold.
Andre Gagne, president and chief executive officer, states that 'the awarding of the contract for the feasibility study is a very important step in the advancement of the project, which should lead Robex to achieve its production goals. In addition, we are convinced that excellent past drill results, recent metallurgy tests, which demonstrated recovery rates of about 90%, the low rate of cyanide consumption inferior to 0.33 kg/ton, the resource's geometrically uniform distribution, as well as the rising price of gold, are all factors that will allow Robex to carry out this mining project and to develop the deposit to its full potential. Robex has chosen Bumigeme for the execution of the contract given its well-known and vast expertise in metallurgical processes and its experience in Africa, especially in Mali.'
Bumigeme Inc. is a Canadian company established in Montreal that works primarily in the mining and metallurgy sector. When it comes to ore dressing (primary, placer, alluvial), Bumigeme has vast experience in the development of dressing procedures and mineral plants operation. The company, some of whose staff has more than thirty years of experience in the development of dressing procedures and operation of ore dressing plants, is internationally recognized, its reputation celebrated in regions such as South America, Central America and in North- and West Africa. It also collaborates with organizations such as the World Bank, the African Development Bank and the Canadian Agency for International Development. The project will be headed by Mr. Florent Baril, engineer and president of Bumigeme. Mr. Baril has more than forty-five years of experience in mining operations and engineering consulting. During his career, he has directed exploitation of mineral deposits (plant manager and superintendant) and has participated in several pre-feasibility and feasibility gold-bearing project studies in Canada, South America, and West Africa. Mr. Baril will be aided in this study by more than ten specialized engineers and technicians.
According to the terms of the contract, Bumigeme intends to retain the services of subcontractors for certification of resources, to model the pit to be exploited and for the extraction model. Discussions are underway with recognized engineering firms and those selected for these contracts will be announced shortly.
The technical content of this press release and the results contained within have been verified by Mr. Jacques Marchand, certified NI 43-101 engineer geologist in charge of resource calculations.
This news release contains statements that may constitute 'forward-looking information' or 'forward-looking statements' within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Robex Resources Inc. ('Robex'). Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause such differences, without limiting the generality of the following, include: volatility and sensitivity to market metal prices; impact of change in foreign currency exchange rates and interest rate; imprecision in reserves estimates; environmental risks including increased regulatory burdens; unexpected geological conditions; adverse mining conditions; political risks arising from operating in certain developing countries; changes in government regulations and policies, including laws and policies; failure to obtain necessary permits and approvals from government authorities; and other development and operating risks. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Robex will derive therefrom. Forward-looking information is based on the estimates and opinions of Robex's management at the time the information is released and Robex does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Investor relations
Andre Gagne
President and CEO
418-527-5023
a.gagne@robexgold.com
Skype: andregagne1