Taseko Mines Limited: Restart Activities Advancing at Gibraltar Mine Site
9/13/04
VANCOUVER, British Columbia, Sep 13, 2004 (BUSINESS WIRE) --
Ronald W. Thiessen, President and CEO of Taseko Mines Limited (OTCBB:TKOCF) (TSX VENTURE:TKO) is pleased to provide an update on re-start activities at the Gibraltar open pit copper mine. The 35,000 tonnes per day operation, located near Williams Lake in s
outh-central British Columbia, is a joint venture between Taseko and Ledcor Mining Ltd ("Ledcor"). Ledcor is operating the mine.
In April 2004, Taseko announced that it was advancing toward the resumption of operations at Gibraltar. The current plan is to extract 148 million tonnes of sulphide ore over 12 years, producing an average of 70 million pounds of copper and 980,000 pounds of molybdenum in concentrate annually, beginning in October. Oxide material, when accessed, will also be processed at a rate of up to 10 million pounds per year by the solvent extraction-electrowinning plant to produce copper cathode. Substantial additional resources have also been outlined to extend the life of the operation well beyond the current mine plan.
Ledcor personnel were mobilized to site in late May to accelerate preparations for restart. Two shovels, eight haul trucks and two drills were re-commissioned for commencement of pre-development mining operations in the Pollyanna Pit on June 10. To the end of August, some 3.35 million tons of material has been removed to facilitate access to the Pollyanna mineralization.
A new 40 cubic yard P&H 2800XPB shovel arrived at site in early July and was immediately mobilized to the in-pit assembly area where it is being erected for operation in early October. The first of five new 205 ton Terex-Unit Rig trucks reached the mine in August. This new equipment, financed by Ledcor for utilization by the joint venture, will be an integral part of the fleet during full mining operations.
Maintenance on other mining equipment and the site facilities is proceeding concurrently with the pre-production activities. Reconditioning of the crushing, conveying and concentrating equipment in the mill is being finalized. Testing of the primary and secondary crushers and filling of the fine ore bins is also underway. Mill circuits will be commissioned and concentrate production initiated in early October.
Elsewhere at the site, the Gibraltar Landfill has now been in full operation for eleven months. The landfill was developed in an area where mining activities have been completed, and is designed for a 100 year useful life. Earlier this year, this innovative private public partnership between Gibraltar and the Cariboo Regional District received the 2004 Partners in Mining Award from the Mining Association of British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS Ronald W. Thiessen, President & CEO
No regulatory authority has approved or disapproved the information contained in this news release.
Taseko Mines Ltd. (TSX VENTURE:TKO) (OTC Bulletin Board:TKOCF)
SOURCE: Taseko Mines Ltd.
Taseko Mines Limited Shari Gardiner Investor Services (604) 684-6365 or Toll Free: 1-800-667-2114 Fax: (604) 684-8092 Website: www.tasekomines.com
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