Richland Resources Ltd Capricorn Sapphire Mine Update (8410V)
2014年11月3日 - 4:00PM
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RNS Number : 8410V
Richland Resources Ltd
03 November 2014
7.00am 3 November 2014
Richland Resources Ltd
("Richland" or "the Company") (AIM: RLD)
Capricorn Sapphire Mine Redevelopment Update, Australia
Highlights
-- Reassembly of the plant is scheduled to be complete during the next 10 days
-- All engineering work to be completed within 15 days ready for electrical work to begin
-- Stage 2 Plan Of Operations pertaining to the Earthworks and
Mining activities lodged with Queensland Government and awaiting
approval
-- Tailings dam options being assessed and water rights applications currently being prepared
-- Refurbishment and recommissioning of the Plant and Capricorn
Sapphire Mine remain on Schedule for production to commence Q1
2015
Richland Resources Ltd, the AIM listed gemstone producer and
developer, today announces an update on redevelopment operations at
the Capricorn Sapphire mine ("the Project") in Queensland
Australia. The Project team has been mobilised to the sapphire mine
site since late August 2014 and have accomplished a series of key
tasks to bring the mine back into production.
On 18 August 2014, work commenced onsite with the
recommissioning and refurbishment of the processing plant, plant
site, including the site office, workshop, water storage and dam
facilities for the plant site.
The purpose-built alluvial processing plant is one of the
largest of its kind in the southern hemisphere capable of treating
up to 200 loose cubic metres ("LCM") per hour. All major plant
components have been stripped down and assessed for working
condition and future integrity and where required they have either
been repaired or replaced with new components.
The plant is at the stage where all sand blasting of most major
components and repainting with anti-abrasive paint have been
completed, ready for reassembly. Reassembly of the plant is
scheduled to be complete during the next 10 days.
The majority of mechanical repairs are expected to be complete
within the next 15 days, following which electrical reinstallation
work will commence. Australia has one of the highest safety
standards for industrial electrical compliance in the world and
Richland will ensure the whole project is fully compliant when
commissioning begins.
An assessment of the best solution for re-establishing a
tailings dam system is underway. Options being assessed include the
redevelopment of the existing tailings combined with the
development of a new section to the tailings dam circuit. Safety is
key to sustainable mining operations at Capricorn Sapphire and a
redevelopment of the pre-existing tailings area will only be
entered into if the highest levels of safe containment can be
reached. Although it is worth noting that the separation process
for the Project involves no chemical additives relying purely on
gravity and water.
Work has also commenced on the Project's sapphire sorting,
concentrating and grading facility. All site works related to the
refurbishment of the plant and plant site remain on schedule and
are progressing systematically.
All statutory requirements of Licencing and Approvals required
are progressing within the estimated time frames and the required
documents pertaining to commencement of mining have been prepared
and lodged with the relevant Queensland Government Authorities.
The Capricorn Sapphire Project remains on schedule to start
production by Q1 2015.
Commenting on the announcement Bernard Olivier, CEO, of Richland
Resources said: "A series of key engineering tasks have now been
completed at the Capricorn Sapphire mine in Queensland and no major
issues have surfaced affecting the commissioning schedule. Our
objective is to be able to rapidly restart sapphire production at
the mine and sell quality, certificated sapphire sourced within a
politically stable region for mining."
END
For more information please contact:
Bernard Olivier
Chief Executive Officer
+61 4089 48182
Mike Allardice
Group Company Secretary
+852 91 864 854
Nominated Advisor & Broker (AIM)
RFC Ambrian Limited
Samantha Harrison
+44 (0) 20 3440 6800
Laurence Read
Corporate Development and Communications Officer
+44 (0)20 3289 9923
http://www.richlandresourcesltd.com
------------------------------------
Project Summary
The Sapphire project consists of two new mining leases
comprising approximately 490 hectares and associated assets and is
100% indirectly owned by Richland . The mining leases contain a
JORC (2004) Measured Sapphire Resource of approximately 21.6
million grams (109 million carats) of sapphire, based on extensive
exploration and a brief period of mining by the previous
owners.
While first production can be achieved through mine restart in
Q1 2015, Richland has identified Nardoo as having the capacity for
significant scalability in terms of sapphire production. Mining of
the current JORC (2004) delineated resource can be increased
through low cost exploration at prospective targets within the
licence acquiring a significant proven sapphire mine with existing
mine infrastructure and straightforward alluvial mining which will
enable production during Q1 2015.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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