LICHKVAZ GOLD PROJECT
PLANT COMMISSIONING COMMENCED
The Company is very pleased to announce that commissioning
of the Stage I gravity circuit at the Lichkvaz Gold Project has
commenced. The commissioning is anticipated to take three
months with initial gold poured over the coming weeks.
Existing ROM stockpiles of approximately 10,000t at 10g/t
gold and high grade gravity gold concentrates have started to be
treated through the plant.
Considerable progress has been made towards the planning and
installation of a CIL circuit. The transition from gravity only to
an expanded CIL circuit is a key component in the Stage II
expansion strategy. A suitable site has been selected and land
acquisition and licensing has commenced. Geotechnical and
hydrological drilling and trenching associated with the
hydrological study has also commenced.
In conjunction with the plant commissioning the Company is
assessing the installation of additional milling capacity to
increase plant throughput.
A decision has been made to commence mining of Level 16 at
the Lichkvaz-Tey Underground Mine in conjunction with the
current study into progressing towards mechanised long hole
mining. Mechanised mining will significantly increase mined
tonnages and is a key component of the Stage II expansion
strategy.
Iberian Resources is in a strong financial position, has a
resource base of more than 1.7 million ounces and is
approaching first gold production. The Company is
exceptionally well positioned to grow rapidly. The Company is
also considering a number of potential corporate strategies to
fast track development and growth.
Matthew Wood
Managing Director
IBERIAN RESOURCES LIMITED
IBR
iberian resources limited
