Hey Arc
Found this about PLL, didn't see it posted before on the board-kinda interesting, to me at least:
May 23, 2006 - 03:01:18 ET
Palladon Ventures Ltd.: Iron Mountain Project Update and Schedule
SALT LAKE CITY, UTAH--(CCNMatthews - May 23, 2006) - Palladon Ventures Ltd.
(TSX VENTURE:PLL)(FWB:PV-1) is pleased to provide the following updates on
developments at the Iron Mountain project in southwestern Utah.
Recent studies at Iron Mountain have revealed that rock and sand materials in
the onsite waste dumps contain sufficient magnetite for the production of
high-strength cement. Palladon requires approximately 450,000 yards of cement
for processing plant and power facility foundations, and for certain retaining
wall structures. Palladon will produce its entire demand for cement on-site,
at a significant discount to trucking cement to Iron Mountain via different
locations in southern Utah. A local contractor has been secured to begin
producing cement and pouring foundations by June 1, 2006. Currently, the batch
plant is onsite, crushing rock and producing sand. In addition, the plant will
produce rock product to be used as road base.
Palladon is also pleased to announce that the recently purchased ball mill is
currently being refurbished. All parts are being cleaned and reconditioned, or
re-built into near-new condition in order to assure that the mill will have
sufficient lifespan as new mills and equipment are placed on order. The motor
has also been assigned to an electric engineering facility for testing,
assurance, and possible rewinding. The motor and mill refurbishment will be
completed by the time the foundation has had sufficient time to reach maximum
strength, allowing for subsequent plant assembly.
The schedule of milestones for the remainder of 2006 is as follows:
Q2 2006: cement production, laying concrete foundations, completion of Iron
Springs interchange tracks
Q3 2006: construction of plant facilities, delivery of railcars, short line
refurbishment; resumption of mining and stockpiling
Q4 2006: plant pilot testing, processing and shipment
Palladon President Don Foot commented This is huge for Palladon Iron. With
the severe shortages of cement and long lead times for delivery, the ability
to make our own cement on-site will assure us that can keep the project moving
forward as rapidly as possible. We are now confident that we will have cement
foundations in place, timed to coincide with the refurbishment of the mill.
On Behalf of the Board of Directors,
Donald G. Foot, Jr., President & Chief Operating Officer
About Palladon
Palladon Ventures Ltd. is a junior resource company focused on the exploration
and development of mineral resource projects worldwide. Development stage
projects include the Western Utah Copper Project near Milford, Utah, the Iron
Mountain project near Cedar City, Utah, in addition to gold exploration
projects in Nevada and Argentina.
