Trans-Siberian Gold PLC Asacha Mining and Production Update (6865P)

TIDMTSG

RNS Number : 6865P

Trans-Siberian Gold PLC

29 October 2012

Trans-Siberian Gold plc

Asacha mining and production update

LONDON: 29 October 2012 - Trans-Siberian Gold plc ("TSG" or the "Company") (TSG.L) reports that mine development activities at Asacha in the third quarter of 2012 comprised approximately 1,090 metres, while ore extraction (including ore from stoping and mine development) amounted to 26,644 mt.

In the same period, an average 12,414 mt per month was processed by the Asacha plant (99.3% of the production level envisaged in the plant's design documentation).

Mining and production at Asacha in the first nine months of 2012 is shown in the following table.

 
                      1(st)       2nd                                     3rd       Year 
                      quarter    quarter    July       Aug      Sept     quarter     to 
                       2012       2012      2012      2012      2012      2012      date 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Mine development 
  (m)                   1,023      1,047      381       352       357      1,090    3,160 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Ore extracted 
  (mt)                 33,525     30,090   12,204     8,924     5,516     26,644   90,259 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Ore processed 
  (mt)                 28,877     32,963   12,682    12,422    12,140     37,244   99,084 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Average 
  gold grade 
  (g/t)                  7.03       6.33     7.68      6.02      6.28       6.67     6.66 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Average 
  silver grade 
  (g/t)                 16.48      10.55    13.42      9.49     10.54      11.17    12.51 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Gold recovery 
  rate (%)              95.14      95.48    96.01     94.93     95.85      95.66    95.48 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Silver 
  recovery 
  rate (%)              48.19      73.67    77.60     76.22     79.12      77.66    65.54 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Gold in 
  dore (oz)             6,689      6,462    3,182     2,169     2,432      7,783   20,934 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Silver in 
  dore 
  (oz)                  7,320      8,991    4,357     2,957     3,224     10,538   26,849 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Gold refined 
  (oz)                  6,281      6,427    3,464     2,336     1,265      7,065   19,773 
------------------  ---------  ---------  -------  --------  --------  ---------  ------- 
 Silver refined 
  (oz)                  6,975      8,397    4,989     2,914     1,726      9,629   25,001 
------------------  ---------  ---------  -------  --------  --------  ---------  -------

TSG reported on 27 September 2012 that the breakdown of some underground equipmenthad reduced the amount of stoping ore which could be delivered to the plant in the second half of the third quarter, necessitating blending the mined ore with lower grade ore from the surface ore stockpile. This problem continued into October, although all necessary spare parts have now been delivered to site. A new underground truck is expected to arrive in Kamchatka by the end of October. Its delivery to Asacha depends on road conditions and is expected in late November, at which time we also expect the arrival of a new underground loader.

As a consequence of the mining production problems in September and October, TSG now expects 2012 production of around 27,000 oz gold, compared to the previous estimate of 31,000 oz.

The Company is also taking steps to strengthen the mine's management team with the appointment of two new underground mining engineers and a mining geologist. It also intends to recruit a technical director for Asacha.

TSG will report Asacha's fourth quarter 2012 gold production in January 2013.

Ends

 
  Contacts TSG 
                                     + 44 (0) 1480 
                                            811871 
                                     + 44 (0) 7770 
 Simon Olsen                                484965 
 
                                       +44 (0) 207 
 Seymour Pierce Ltd                       107 8000 
 Stewart Dickson / David Foreman 
  (Corporate Finance) 
 Jeremy Stephenson (Corporate 
  Broking)

This information is provided by RNS

The company news service from the London Stock Exchange

END

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