Production Update
January 10 2011 - 5:33AM
UK Regulatory
TIDMHMB
Hambledon Mining Plc
("Hambledon" or "the Company")
10 January 2011
The issuer advises that the following replaces the announcement
No. 0109005025 made today at 07.00 which incorrectly stated some of
the figures in the table of production. Given below is the full
text of the corrected announcement.
The Company reports its production for the three months from 1
October 2010 to 31 December 2010.
October November December Total
Milled tonnes (dry) 83,794 66,368 46,763 199,925
Gold grade (g/t) 0.93 1.20 1.42 1.14
Contained gold (gms) 78,119 83,259 66,302 227,682
Contained gold (oz) 2,511 2,676 2,133 7,320
Gold recovery % 85.2 % 84.2% 83.7% 84.4%
Recovered gold (oz) 2,359 2,268 1,864 6,491
Recovered silver (oz) 5,035 5,076 3,451 13,562
PROCESSING
The 4th quarter of 2010 consolidated the performance of the
Sekisovskoye operation as the metallurgical plant achieved good
production and sustained higher levels of gold recovery. Mining
activities were primarily from the main open pit, with modest
amounts of ore extracted from the north pit. The phase 1
refurbishment of the two main hydraulic excavators was undertaken
during the quarter, matched to ore inventory levels, so that
production from the open pit mine was not hampered.
The performance of the metallurgical plant has been improved
with recovery levels averaging 84.7% for Q4, and YTD 83% for gold,
and for silver 86% in Q4, and 84% YTD. Work is ongoing to improve
the grinding of the ore prior to cyanidation and to improve the
dissolved oxygen levels in the cyanide circuit. With this we aim to
improve plant recovery to a sustainable 85%-90% recovery of both
gold and silver. GBM Minerals Engineering Consultants Ltd.,London,
have been engaged to assist with the plant optimisation programme.
The mined gold grade at Sekisovskoye remains erratic and is
predicted to remain volatile until the open pit mine is deepened
further.
Phase 1 winterisation of the crushing and screening plant was
completed prior to the onset of the harsh winter period. This
infrastructure has helped to mitigate the impact of the cold
weather on plant operations. Phase 2 winterisation, combined with
upgrading of the surface infrastructure will be undertaken in 2011,
in conjunction with construction works associated with the
underground mine project.
The cold continental climate is predicted to be harsh in Q1 2011
and whilst the Sekisovskoye operation has remedied the most
sensitive components of the surface infrastructure, gold output is
budgeted to be less during this winter period.
UNDERGROUND
Development of the underground infrastructure and access tunnels
is progressing well, and on schedule to extract ore in December
2011. To date, the infrastructure installed includes electrical
substations, dewatering stations, explosives magazines and
electrical reticulation for ventilation and construction equipment.
The tunneling contractor continues to achieve its driveage targets
and maintain a good safety record.
The diamond drilling programme to delineate the resources for
the underground mine has commenced. A programme of some 25,000
meters is planned, which will be completed during the second half
of 2011. The information from the drilling and sampling will
validate the Soviet resource statement, allow detailed mine
planning and extraction scheduling as well as upgrade a portion of
the resources from inferred to JORC Measured and Indicated. A
revised mineral resource and ore reserve statement will be prepared
in Q1 2011 reflecting the increased geological knowledge.
Engineering and mine design studies undertaken by consultants
AMC of Australia have been completed and additional studies by
Golders Associates UK are now focused on the detailed engineering
studies relating to the operational design and strata control
aspects of the underground operation.
The project will be using a combination of contract mining
services and the Company's own resources to further develop the
underground operations at Sekisovskoye.
INFRASTRUCTURE
A review of the Life of Mine project cost base (Open Pit and
Underground) has highlighted that to meet long term security of
electrical supply, lowest process waste capital and unit costs,
maintenance of environmental compliance and a continuation of the
low social and environmental impact of the operation; upgrading of
the surface infrastructure is required. These works will take place
in 2011 in order that the underground project development and
construction works can be carried out symbiotically and at lowest
construction cost.
GBM Minerals have been engaged to undertake various studies and
provide site based staff to assist in the development of the
mineral process plant and surface infrastructure. Golders
Associates UK have been engaged to integrate the design of the
process plant waste handling facility with the underground backfill
and strata control plant and machinery.
ENQUIRIES:
HAMBLEDON MINING:
Telephone +44 (0)207 233 1462
Charles Zorab
FAIRFAX I.S. PLC:
Telephone +44 (0)207 598 5368
Ewan Leggat
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