VANCOUVER, Nov. 7, 2014 /PRNewswire/ - Veris Gold
Corp. ("Veris" or the "Company") is pleased to announce that a
record 18,081 ounces of gold were produced for the month of October
at its wholly-owned Jerritt Canyon gold mines and processing
facility in Elko County,
Nevada. Jerritt Canyon is operated by Veris Gold USA Inc., ("Veris USA"), a wholly-owned subsidiary of the
Company.
During the month of October the processing plant at Jerritt
Canyon averaged 4,015 tons per day of Jerritt Canyon ore with an
average recovery rate of 86%. The improvement in the grade
processed, from 0.15 ounces per ton ("opt") in September to 0.17
opt in October, contributed significantly to the record monthly
production achievement. These results highlight the continued
growth and improvements happening at the property.
Francois Marland, CEO commented,
"The operations continue to improve with every passing day thanks
to the dedication and perseverance of our team at Jerritt Canyon
headed up by Graham Dickson,
COO."
Graham Dickson, COO commented,
"The continually improving performance of the milling facility is
due to the hard work and dedication shown by the Milling Group
headed up by the Mill Manager Chris
Jones. We would like to recognize Chris Jones, and his team for a job well done in
achieving the highest ever monthly Veris gold production. They have
been aided in this by Small Mine Development ("SMD") our mining
contractors and by our own internal mining group."
Saval 4 Mine Opening
On October
23, 2014 the Company celebrated the official opening of the
Saval 4 Gold Mine. Late in the second quarter of 2014 the Company
re-commenced development of Saval 4, the fourth operating
underground mine at Jerritt Canyon, with pre-production occurring
in July. The Company plans to mine the Saval 4 using existing
equipment and crews at a scheduled mining rate between 250 and 300
tons per day grading approximately 0.2 opt.
Toll Milling
Anova Metals plans to deliver its first
batches of Big Spring's ore to the property in June 2015. Key terms of the toll milling
agreement provide for the delivery of up to 1,000 tons per day of
ore, which will be processed in 25,000 ton lots. The Jerritt Canyon
processing facility is located approximately 26 miles south from
the Big Springs project. This will further reduce overall cash
costs at Jerritt Canyon resulting in a more profitable
operation.
Third Quarter results will be issued end of day on November 14, 2014.
Quality Control
Assaying of all mine production
samples are conducted by the Jerritt Canyon lab using standard fire
assay techniques. The company's Quality Assurance and Quality
Control protocols are documented in the most recent NI 43-101
Technical Report available on Sedar or at the Company's
website.
The information in this news release was compiled and reviewed
by Graham Dickson, COO of Veris Gold
Corp. The information contained in this news release has been
reviewed and approved by the Company's Vice President of
Exploration, Todd Johnson, M.Sc.
(Qualified Person per the requirements of NI 43-101).
About Veris Gold Corp.
Veris Gold Corp. is a
growing mid-tier North American gold producer in the business of
developing and operating gold mines in geo-politically stable
jurisdictions. The Company's primary assets are the permitted and
operating Jerritt Canyon processing plant and gold mines located 50
miles north of Elko, Nevada, USA.
The Company's primary focus is on the re-development of the Jerritt
Canyon mining and processing plant. The Company also holds a
portfolio of precious metals properties in British Columbia and the Yukon Territory, Canada, including the Ketza
River Property.
On behalf of
"VERIS GOLD CORP."
François Marland
President and CEO
To be added to the Veris Gold e-mail list please sign up at
www.verisgold.com.
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release. All material
information may be accessed at www.sedar.com.
Forward-Looking Statements This news release contains
"forward-looking statements" and "forward-looking information"
within the meaning of applicable securities regulations in
Canada and the United States (collectively,
"forward-looking information"). Forward-looking information
includes, but is not limited to, statements with respect to
estimated mineral resources, anticipated effect of the completed
drill results on the operations at Jerritt Canyon, the
interpretation of those results, and timing and expectations of
future work programs. Often, but not always, forward-looking
information can be identified by the use of words such as "plans",
"expects, "is expected", "budget", "scheduled", "estimates",
forecasts", "intends", "anticipates", or "believes", "has the
potential" or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "might", or "will" be taken, occur or be
achieved. The forward-looking information contained in this
news release is based on certain assumptions that the Company
believes are reasonable, including, with respect to mineral
resource estimates, the key assumptions and parameters on which
such estimates are based, as set out in this news release and the
technical report for the property, that the current price of and
demand for gold will be sustained or will improve, the supply of
gold will remain stable, that the general business and economic
conditions will not change in a material adverse manner, that
financing will be available if and when needed on reasonable terms
and that the Company will not experience any material accident,
labor dispute, or failure of plant or equipment.
However, forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information. Such factors include, among others, conclusions of
economic evaluations, the risk that actual results of exploration
activities will be different than anticipated, that cost of labour,
equipment or materials will increase more than expected, that the
future price of gold will decline, that mineral resources and
reserves are not as estimated, that actual costs or actual results
of reclamation activities are greater than expected; that changes
in operations may result in increased costs, unexpected variations
in mineral resources and reserves, grade or recovery rates, failure
of plant, equipment or processes to operate as anticipated,
accidents, labour disputes and other risks generally associated
with mining. See our Annual Information Form for additional
information on risks, uncertainties and other related factors.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. The Company does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
SOURCE Veris Gold Corp.