Bass Metals Ltd (ASX:BSM)
ASX RELEASE
8
SEPTEMBER 2008
Hellyer & Que
River Mine Update
Bass Metals Ltd (ASX:BSM) is pleased to provide the
following operational update.
Hellyer Mine Project (Fossey & Hellyer)
The Hellyer Mine Project (100% BSM) is an advanced,
high grade polymetallic (Cu-Pb-Zn-Ag-Au) project located within 1 km of the
Hellyer processing plant owned by Intec Ltd. A mining study is currently in
progress which includes evaluation of utilising the Hellyer Plant on a possible
toll treatment arrangement or selling ore to Oz Minerals Ltd?s Rosebery plant.
The recent announcement by Intec (8 September 2008) that it is suspending
production from its tailings re-treatment project at the Hellyer Plant has no
negative impact on BSM?s current or planned activities.
The Company is on track to report an initial resource
estimate for the Fossey Zone late in September.
Que River
Mine
Positive above budget start to the new financial year
(July & August 2008):
Mine production ? 12,833 tonnes grading 19.2% zinc,
10.7% lead, 0.5% copper, 255g/t silver and 5.7 g/t gold.
Ore Sales ? 12,248
tonnes
Closing stocks (August) ? 6,478 tonnes grading 21.9%
zinc, 11.7% lead, 0.6 % copper, 284 g/t silver and 4.9 g/t gold.
Que River
ore is sold to Oz Minerals? Rosebery operations. The project is performing
above budget predictions both technically and financially. The Que River mine
is cash flow positive, profitable at current metal prices and exchange rates
and is also well underpinned with lead, zinc and currency hedging.
The Company looks forward to providing further
operational and development updates in the near future.
Yours
Sincerely
Mike
Rosenstreich
Managing
Director
READ CORPORATE
Public Relations
Corporate Communications
T: (+61-8) 9388-1474 | F: (+61-8)
9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au
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