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Cours Or & Argent

Strategic Resource Acquisition Corp.

Publié le 26 juin 2008

achieves 3,000 tpd in Gordonsville ramp up

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Mots clés associés :   Gallium | Germanium | Zinc |

 

4SRA

TSX: SRZ        (Cmn Shs)

          SRZ.NT; NT.A  (Notes)

         

SRAC - Name only - colour

Suite 401, One University Avenue

Toronto, Ontario M5J 2P1

                                                                        (416) 861-0430

                                                   www.sra-corporation.com

 

 

 

 

 

 

PRESS RELEASE

 

 

SRA achieves 3,000 tpd in Gordonsville ramp up

 

TORONTO, ONTARIO   June 26, 2008.  - Strategic Resource Acquisition Corporation ("SRA") is pleased to report that production at the Gordonsville mining complex has been steadily increasing and the mine now trucks regular tri-weekly shipments to the Clarksville smelter.  For the month of May, concentrate shipments totalled 2,738 dry metric tonnes. 

 

Production and Productivity

Mining at Gordonsville has achieved the interim target of 3,000 tpd and has been as high as 3,500 tpd as equipment productivity and reliability improve.  The ore grades encountered typically exceed 3% as several high grade faces currently being blasted exceed mine plan averages for the Gordonsville mine.   Currently 30 faces are being worked on a daily basis and recent drilling and computer modelling assist in mining higher grade tonnage with minimized dilution.  Test drilling with four drills is showing improvement particularly in recent weeks running ahead of plan.  Hoisting capacity is now at 7,000 tons per day.   A key focus going forward will be improving productivity through the addition of an extra supervisor per shift, supervisory and miner training and an emphasis on a preventative equipment maintenance program.

 

Cumberland/Elmwood

The information accumulated and modeled to date, is expected to benefit the Cumberland mine for its production start-up in September. At Elmwood, dewatering of the southern half of the mine has been completed and the possibility of an earlier start up is being explored.

 

Mill Productivity

The mill at Gordonsville is achieving high concentrate quality but will require further grinding modifications to meet grind specifications for the Clarksville smelter. This is being addressed by a concentrate re-grind circuit and a supplemental ball mill will be added which will be rehabilitated and installed by the fall to improve grinding and flotation, which will be required as Cumberland and Elmwood volumes come on stream later in the year.  Concentrate grades average 64% zinc.

 

Germanium/Gallium

The Company has received the summary of its scoping study for the construction of its own gallium and germanium processing facility from Aker Kvaerner.  Indicated capital costs are $32 million with operating costs of under $150 per kilogram of Ge and Ga produced, supporting a less than one year capital payback.  Once in full commercial production, SRA expects to be a significant global producer of both metals used largely in semiconductors, wireless devices and fiber optics.

 

Economic Advantage

?The Company?s outlook is dramatically enhanced by the production of Germanium and Gallium,? remarked Victor Wyprysky, President & CEO of SRA.  ?We produce the world?s highest quality zinc concentrate and we are positioned to become a leading global producer of gallium and germanium?.  On a comparative NAV and price to cash flow basis based on our targets for 2009 and 2010, SRA represents significant value.  With zinc producers hurt by current commodity lows, we are fortunate in that our gallium and germanium product will lower our cost per pound of zinc produced, commencing late 2008.?


About SRA

SRA Corporation is focused on the development of the Mid-Tennessee zinc mining complex (MTM) in the State of Tennessee. The MTM is located approximately 50 miles east of Nashville with excellent infrastructure including roads, water, power, major airport and access to a well-trained workforce. MTM will produce one of the highest quality zinc concentrates in the world and efforts are underway to establish recovery methods for the valuable germanium and gallium contained in the concentrate. Once in full production, the Gordonsville Complex at MTM is expected to be the largest zinc producer and domestic source of germanium and gallium in the continental USA.

The Company also plans to explore and develop additional properties and redeploy cash flow to pursue a strategy of accretive acquisitions.

 

 

Cautionary Statement on Forward-Looking Information


This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects, the future price of zinc or other metal prices, the estimation of mineral resources and realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits and future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of regulatory matters. These statements reflect management's current beliefs and are based on information currently available. Forward-looking statements involve significant risks, uncertainties and assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including those listed in the ''Risk Factors'' section of the Company's prospectus on file with Canadian provincial securities regulatory authorities.

 

 

For further information, please email info@sra-corporation.com or contact:

Victor P. Wyprysky                                                     Ian M. MacNeily

President and Chief Executive Officer                       Executive VP and Chief Financial Officer

Tel:  (416) 861-0430 ext. 1833                                    Tel:  (416) 861-0430 ext. 1422

Email:  victor.wyprysky@sra-corporation.com           Email:  ian.macneily@sra-corporation.com

 

Donna Yoshimatsu

VP Investor Relations & Communications

Tel:  (416) 861-0430 ext. 1003

Email: donna.yoshimatsu@sra-corporation.com

 

Strategic Resource Acquisition Corp.

CODE : SRZ.TO
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SRA est une société développant des projet miniers de zinc basée au Canada.

SRA détient divers projets d'exploration en USA.

Son principal projet en exploration est GORDONSVILLE en USA.

SRA est cotée au Canada. Sa capitalisation boursière aujourd'hui est 195 530 CA$ (150 617 US$, 108 188 €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 6,88 CA$, et son plus bas niveau récent le 19 décembre 2008 à 0,01 CA$.

SRA possède 39 106 000 actions en circulation.

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Nominations de Strategic Resource Acquisition Corp.
02/06/2008Announces Appointment of John C. McConnell as Chief Operatin...
18/03/2008Announces Board Appointment
Rapports Financiers de Strategic Resource Acquisition Corp.
14/08/2008reports third quarter 2008 results
Projets de Strategic Resource Acquisition Corp.
22/07/2008announces robust scoping study on Germanium and Gallium
26/06/2008(Gordonsville)achieves 3,000 tpd in Gordonsville ramp up
18/04/2008(Middle Tennessee Mines)Announces Unit Offering and Bridge Debt financing for its Mi...
Communiqués de Presse de Strategic Resource Acquisition Corp.
11/12/2008Care and Maintenance Update
20/11/2008TSX to Delist SRA
01/10/2008Senior Debt Restructuring Efforts Underway
17/09/2008Director W. Shaver Resigns to Join DMC Mining Services Divis...
28/08/2008Engages Advisors for Strategic Review
05/06/2008enters into agreement to sell balance of Ge/Ga Leachate
21/05/2008enters into agreement to sell Germanium and Gallium in leach...
09/05/2008Announces Closing of Unit Offering
09/04/2008 Announces First Zinc Concentrate Delivery
13/03/2008 Power Breakfast Interview on BNN TV featuring Victor Wyprys...
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