Dynacor Gold: Veta Dorada 300 tpd Plant Construction in Chala is 52% Completed
MONTREAL, QUEBEC–(Marketwired – Oct. 29, 2015) –
Editors Note: There is a photo associated with this press release.
Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to release a progress report on the construction of its new 300-tonne per day ore processing plant located in Chala in Southern Peru. As of the 29thth of October, construction is 52% completed and is on schedule and on budget. The Corporation expects to finish the construction of the Veta Dorada Plant during Q1-2016 followed by the plant’s first gold pour during the second quarter of 2016.
The table, below summarizes the progress to date.
|CONSTRUCTION PHASE||% COMPLETED
(OCTOBER 29, 2015)
|Earth-moving & excavation||100%||Plant area 100% completed|
|Civil Engineering||75%||Plant area 100% completed,
Auxiliary units pending
|Mounting of two (2)
7′ x 8′ ball mills
|Installation of Equipment/
|Underway||All the equipment and cyanidation tank components on site|
|Electrical Power||100%||250 KW from grid, 1.5 MW available July 2016|
|Water Supply||80%||Additional well is being built|
|Tailing Pond||Underway||Capacity 500,000 tonnes (5 years).
Target completion date 31st of January
|Auxillary Units||Underway||Laboratory, workshops, etc|
The next steps are: installation of the seven cyanidation tanks on their bases as well as the two (2) primary ore crushers and three (3) conical ore crushers. Two 40 tonne ore hoppers were delivered to the site last week and they will be installed as soon as possible.
Procurement & Schedule
Delivery dates for the critical long lead items have been respected by our suppliers and 18 containers with all the heavy equipment were delivered on site in Chala by mid-October.
There are at present more than 150 workers and professionals on site. They are all housed on site which avoids transportation delays and is cost effective. Consumables and service personnel are sourced locally to ensure that the businesses in Chala and its population receive economic benefits from the construction of the plant.
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold ore-processing and exploration Corporation active in Peru since 1996. The Corporation differentiates itself from pure exploration companies as it generates income from its wholly owned ore-processing plant. Dynacor’s basic share count at 36.5 million outstanding is in the lowest quartile of the resource sector. The Corporation’s assets include three exploration properties, including the advanced high-grade gold Tumipampa property and an operating 85.000 TPA gold and silver ore processing mill at Metalex-Huanca. The Corporation obtained its permit to construct a brand new 300 tpd mill in Chala Peru. This represents an important milestone for the Corporation’s future growth. The Corporation’s strength and competitive advantage comes with the experience and knowledge it has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees. partners and local communities.
Certain statements in the foregoing may constitute forward-looking statements. which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor. or industry results, to be materially different from any future result. performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.
Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF)
Shares outstanding: 36 516 736
To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20151028-151029_DNG-Chala-Plant_lrg.jpg
President and CEO
514-393-9000 Ext. 228
Dynacor Gold Mines Inc.