Re: News Release - Wednesday, March 17, 2010
Title: Gold-Ore Announces Bjorkdal First Quarter Operational Results
News Release 10-05
Gold-Ore Resources Ltd. is pleased to provide operational highlights for the first quarter of 2010 (three month period ending February 28, 2010) at the 100%-owned Bjorkdal Gold Mine in Sweden. During the period a total of 10,065 ounces of gold were recovered and this marks the second consecutive quarter with greater than 10,000 ounces recovered. Financial results from the first quarter will be released within 45 days.
Glen Dickson, CEO comments "Steady improvements at the mine have generated another strong quarter and all indications are that cash flow and gold production will continue to be strong over the coming quarters. During the next few months the operations team will be testing some new mining methods based on observations made by senior staff at several Canadian underground gold mines. These efforts are designed to reduce dilution, improve grades and gold production and have the potential to make a significant positive impact to the operation".
First Quarter � 3 Months ending February 28, 2010 |
Tonnes processed |
277,952 |
Daily throughput |
� tonnes |
3,088 |
Gold recovered |
� ounces |
10,065 |
|
� kilograms |
313.0 |
Average plant recovery |
89.1% |
Gold production during the period was on target at over 40,000 ounces on an annualized basis. Tonnes processed in the plant during the first quarter were impacted by an unusually long cold period in January and February resulting in a daily processing average of 3,088 tonnes per day. With improved weather in late February plant throughput averaged over 3,300 tonnes per day in the first half of March, and represents a 10% increase in tonnes processed and better reflects capacity in the plant.
Stock OptionsGold-Ore Resources Ltd. has granted incentive stock options to directors and employees to purchase up to 1,610,000 common shares at an exercise price of $0.50. These options are exercisable for a period of three to five years. The grant of the stock options is subject to regulatory approval.
About Gold-Ore Gold-Ore Resources is a gold mining and exploration company focused in Sweden. The Company is generating positive cash flow, is debt-free and un-hedged, and remains focused on increasing gold production from the 100%-owned Bjorkdal Gold Mine. In addition to Bjorkdal, the Company also has other assets in the country; the Ronnberget Gold Property (adjacent to Bjorkdal) and the Norrliden Polymetallic Deposit.
For more information please contact Glen Dickson, Bob Wasylyshyn or Ron Ewing at (604) 687-8884. Bjorkdal property information is posted on the Company's web site at
www.goldoreresources.comON BEHALF OF THE BOARDRobert Wasylyshyn, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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Copyright � 2010 GOLD ORE RESOURCES LTD. (GOZ) All rights reserved. For more information visit our website at
http://www.goldoreresources.com/ or send email to
info@goldoreresources.com ..
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PRODUCTEUR |
CODE : GOZ.TO |
ISIN : CA3809811001 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Gold-Ore Res. est une société de production minière d'or basée au Canada. Gold-Ore Res. est en développement de projets d'or, d'argent, de cuivre, de plomb et de zinc en Suede, et détient divers projets d'exploration en Suede. Son principal projet en production est BJÖRKDAL en Suede, son principal projet en développement est NORRLIDEN en Suede et ses principaux projets en exploration sont VALLBERGET et RONNBERGET en Suede. Gold-Ore Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 38,4 millions (37,4 millions US$, 28,4 millions €). La valeur de son action a atteint son plus bas niveau récent le 23 novembre 2001 à 0,04 , et son plus haut niveau récent le 31 décembre 2010 à 1,14 . Gold-Ore Res. possède 47 442 200 actions en circulation. |