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Re: News Release - Wednesday, August 05, 2009
Crowflight Provides Bucko Mine Update
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CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX: CML)
today provided an operational update for the Bucko Lake Nickel Mine
(Bucko) located near Wabowden, Manitoba.
During the month of July, a new water treatment facility was installed
and commissioned at the Bucko Mine due to water issues that were
encountered at the end of June. The new state-of-the-art water
treatment plant utilizes microfiltration and reverse osmosis
purification units. This installation is expected to allow Crowflight
to maintain its water balance while complying with all environmental
requirements.
Mill operations were halted during July due to a lack of available ore
from the main production stope. Poor ground conditions in the stope
entrance required the development of a new stope access drift so that
mining operations could resume safely. The new access was successfully
completed by the end of the month.
The mill resumed operation on August 4th, 2009 at a rate of 1,000
tonnes per day (tpd). A second stope is scheduled to begin production
during the latter half of August, providing additional production
flexibility. Commissioning of the new backfill system is scheduled for
mid August. This system will be used to fill the mined out stopes and
will enhance the continuity of mine production.
Pala Investment Holdings Limited's (Pala) recent strategic investment
provides Crowflight with a strong financial partner going forward. Both
Crowflight and Pala are committed to maximizing the potential of the
Bucko Mine.
Crowflight Minerals -- Canada's Newest Nickel Producer
Crowflight Minerals Inc. (TSX: CML) is a Canadian junior mining company
that is producing nickel at the Bucko Lake Nickel Mine near Wabowden,
Manitoba. Crowflight began full commercial production at Bucko in the
second quarter of 2009. The Company is also focused on nickel, copper
and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt
and Sudbury Basin.
Cautionary Note on Forward-Looking Information
This press release contains forward-looking statements under Canadian
securities legislation. Forward-looking statements include, but are not
limited to, statements with respect to the Company's development
potential and timetable of the Company's properties, including the
Bucko Lake Project; the future price of nickel and other minerals; the
timing and amount of estimated future production; capital expenditures;
mining or processing issues; and environmental risks. Generally,
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking statements
are based on the opinions and estimates of management as of the date
such statements are made. Estimates regarding the anticipated timing,
amount and cost of mining at the Bucko Lake Project are based on
assumptions underlying mineral reserve and mineral resource estimates
and the probability of realizing such estimates that are set out
herein. Production estimates are based on mine plans and production
schedules, which have been developed by the Company's personnel and
independent consultants. Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or implied
by such forward-looking statements, including but not limited to risks
related to: unexpected events and delays during production;; timing and
availability of external financing on acceptable terms; changes in
project parameters as plans continue to be refined; future prices of
minerals, particularly nickel; failure of plant, equipment or processes
to operate as anticipated; accidents, labour disputes and other risks
of the mining industry. Although management of the Company has
attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company does not undertake to update
any forward-looking statements, except in accordance with applicable
securities laws.
Further information is available on the Company's website at
www.crowflight.com or contact:
Mike Kelly
President and CEO
Crowflight Minerals
Tel: (416) 861-2266
Heather Colpitts
Manager, Investor and Public Relations
Crowflight Minerals
Tel: (416) 861-5803
info@crowflight.com
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Copyright (c) 2009 CROWFLIGHT MINERALS INC. (CML) All rights reserved.
For more information visit our website at http://www.crowflight.com/
or send mailto:info@crowflight.com
Message sent on Wed Aug 5, 2009 at 8:51:15 AM Pacific Time
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Crowflight Mineral Inc.
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PRODUCER |
CODE : CML.TO |
ISIN : CA13758Y2015 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Crowflight Mineral is a nickel producing company based in Canada. Crowflight Mineral produces nickel, copper in Canada, and holds various exploration projects in Canada. Its main asset in production is BUCKO LAKE in Canada and its main exploration properties are AER/KIDD, PETER'S ROOST and TNB NORTH in Canada. Crowflight Mineral is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 938 000 as of today (US$ 682 583, € 609 615). Its stock quote reached its highest recent level on November 01, 1996 at CA$ 96.02, and its lowest recent point on February 04, 2016 at CA$ 0.03. Crowflight Mineral has 37 520 000 shares outstanding. |