RSM Has Received First Shipment of Gold Dore’ From Concentrate Shipped to the Offsite Cyanide Treatment Facility
ROYAL STANDARD MINERALS INC. (TSX VENTURE: RSM)(OTCBB: RYSMF) (“RSM”) – RSM has received the results of the first shipment of gold dore’ from the latest gold concentrate shipped in early July to the offsite cyanide treatment facility. The offsite facility received and processed 2 tons of concentrate producing 149.01 ounces of gold dore’ as part of an initial shipment to determine the effectiveness of the process of preparation of concentrates at Goldwedge. According to Roland M. Larsen, Qualified Person who has read and approved this press release, “we are pleased with the results of this first shipment and look forward to continued increases in the volume and grade of the concentrates to be shipped to the treatment facility going forward.”
Plans are to continue to increase the number of concentrate shipments and the concentrate grade with each successive shipment. Initially, the Company will attempt to ship at least one shipment per month for processing. Our target concentrate shipment grade is 500 ounces per ton, we are currently producing approximately 100 ounces per ton of gold concentrate. The next shipment is expected to contain between 100-150 ounces of gold concentrate. Continued improvements in feed grade will result in significant improvements to the concentrate grade. Increases in the plant throughput from the current 100-150 tons in a 10 hour shift is expected to double in the near future. The feed has been slowed down to help insure that the ball mills are producing an acceptable product to the concentrators as part of an effort to keep the gold recoveries from the gravity circuit in the 70% range.
Cyanide testing of the gold concentrates is ongoing and are yielding very positive results, indicating gold recoveries in the mid 90% range with very low cyanide consumption. A preliminary flow chart and plant design of a closed circuit system has been completed and a report is forthcoming.
The gold feed grade is expected to improve, currently the Company is mining higher grade material within the upper portion of the underground development, in conjunction with continued decline construction. The dewatering program is proceeding at a slower rate than was anticipated, this has slowed the decline development. The lower most crosscut is currently under construction, this effort is targeted to intersect one of the better gold zones on the property. This drifting is about 50% of the way to the target.
Mining of the higher grade gold bearing material is concentrated within the southern “F” crosscut , the “H” crosscut and the “B” crosscut. The mine grades of this material have been carrying a head grade that ranges from 0.1-0.20 opt as current feed to the plant.
The drilling crew has been on vacation for some time and is expected to commence drilling underground in September at Goldwedge.
RSM is an exploration and development company with interests in coal and precious metals in the United States.
The information presented in this press release is subject to the various regulatory approvals.
The Canadian Venture Exchange does not accept responsibility for adequacy or accuracy of this release as per Exchange Policy 3.3 section 6.5.
Royal Standard Minerals cautions that the statements made in this press release and other forward looking statements made on behalf of the Company may be affected by such other factors including, but not limited to, volatility of mineral prices, product demand, market competition, imprecision of mineral estimates, and other risks detailed herein and from time to time in the Securities and Exchange Commission filings of the Company.
C.U.S.I.P. # 780919106
LISTED: STANDARD & POORS OTCBB:RYSMF
Contacts: Royal Standard Minerals Inc. Roland Larsen 775-487-2454 775-775-2460 (FAX) royalstandardminerals.com
SOURCE: Royal Standard Minerals Inc.