Kibush Capital Mining Update
April 08 2015 - 8:38AM
PR Newswire (US)
MELBOURNE, Australia,
April 8, 2015 /PRNewswire/
-- Kibush Capital Corporation (OTC: DLCR) announced today it
has commenced operations on the Alluvial Mining Lease 694/695 via
its Subsidiary Aqua Mining PNG Limited. Mr. Vincent Appo, PNG Operations Manager, is
overseeing the construction of the required infrastructure which
will be completed by April
30th and processing to commence May 1st 2015.
The results from testing indicate that the project can expect
.95 grams per cubic meter and for the next three months the Company
is forecasting 80 ounces of fine gold processed per month.
Warren Sheppard, Kibush CEO, said
this is an excellent start to operations in Papua New Guinea and once Kibush has completed
the initial three month period, it will be in a position to
increase processing incrementally by identifying high vein deposits
and adding further capital expenditure on machinery and processing
equipment. A review of costs with the project confirm the cost of
extraction for Kibush will be less than $400USD an ounce.
Contact:
Paul Knopick
E & E Communications
pknopick@eandecommunications.com
940-262-3584
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/kibush-capital-mining-update-300062710.html
SOURCE Kibush Capital Corporation
Copyright 2015 PR Newswire
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