Trans-Siberian Gold PLC Asacha mining and production update (4062C)

TIDMTSG

RNS Number : 4062C

Trans-Siberian Gold PLC

16 April 2013

Trans-Siberian Gold plc

Asacha mining and production update

LONDON: 16 April 2013 - Trans-Siberian Gold plc ("TSG" or the "Company") (TSG.L) reports that mine development activities at Asacha in the first quarter of 2013 comprised approximately 396 metres, while ore extraction (including ore from stoping and mine development) amounted to 45,352 metric tonnes, the highest quarterly total to date. As reported on 23 January 2013 mining activity is now focused on increasing the volume and quality of stoping ore, since the 4,100 metres of mine development in 2012 included the preparation of stoping areas to be mined in 2013.

Mining and production data at Asacha in the first quarter of 2013 is shown in the following table.

 
                       January   February      March      Total      Total 
                          2013       2013       2013    Q1-2013    Q1-2012 
--------------------  --------  ---------  ---------  ---------  --------- 
 Mine development 
  (m)                      157        164         75        396      1,023 
--------------------  --------  ---------  ---------  ---------  --------- 
 Ore extracted (mt)     14,865     14,390     16,097     45,352     33,525 
--------------------  --------  ---------  ---------  ---------  --------- 
 Ore processed (mt)     11,438     12,032     12,115     35,585     28,877 
--------------------  --------  ---------  ---------  ---------  --------- 
 Average gold grade 
  (g/t)                   6.72       6.16       6.22       6.36       7.03 
--------------------  --------  ---------  ---------  ---------  --------- 
 Average silver 
  grade (g/t)             9.62      10.29       9.47       9.80      16.48 
--------------------  --------  ---------  ---------  ---------  --------- 
 Gold recovery rate 
  (%)                    94.30      94.52      94.74      94.52      95.14 
--------------------  --------  ---------  ---------  ---------  --------- 
 Silver recovery 
  rate (%)               81.89      76.03      78.93      78.81      48.19 
--------------------  --------  ---------  ---------  ---------  --------- 
 Gold in dore (oz)       2,253      2,300      2,273      6,826      6,689 
--------------------  --------  ---------  ---------  ---------  --------- 
 Silver in dore 
  (oz)                   2,827      3,030      2,934      8,791      7,320 
--------------------  --------  ---------  ---------  ---------  --------- 
 Gold refined (oz)       1,960      1,888      2,985      6,833      6,281 
--------------------  --------  ---------  ---------  ---------  --------- 
 Silver refined 
  (oz)                   2,631      2,379      3,855      8,865      6,975 
--------------------  --------  ---------  ---------  ---------  ---------

During the first three months of 2013 the underground mine continued to implement the changes previously reported, including changes in stoping methods, additional mobile machinery and qualified personnel and improved control of ore blasting and haulage, intended to reduce the volume of ore stored underground. The positive impact of these changes was partially offset by rockfalls in February and March, due in part to an offshore earthquake on 1 March, which affected one of the stoping areas with richer ore. In spite of some problems with grinding equipment which interrupted production for a short period, the plant's throughput and performance were close to the planned figures.

Although TSG expects that the measures already taken and further changes now being considered, such as the use of low density explosives, will reduce ore dilution, the more fractured rock in the upper part of the orebody makes it likely that this problem will take time to resolve. Therefore the Company does not expect an immediate improvement in the average grade of ore extracted.

TSG intends to report Asacha's second quarter 2013 production in July 2013.

Ends

 
  Contacts TSG 
                                                + 44 (0) 1480 811871 
 Simon Olsen                                    + 44 (0) 7770 484965 
 
                                                     +44 (0) 207 894 
 Cantor Fitzgerald Europe                                       7000 
 David Foreman / Stewart Dickson (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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