LMX.H - LARGE RESERVE FOUND - CHARTBREAKOUTL M X RESOURCES LTD CONTINUES TURKEY EXPLORATION
LMX.H (TSE:V)
2003-12-16 09:28 ET -
Mr. Howard Burnstein reports
L M X RESOURCES CORPORATION: TURKISH PROJECTS UPDATE
L M X Resources Ltd exploration and development activities in Turkey are being carried out through its Turkish subsidiary Tuprag Metal Madencilik San ve Tic. Ltd. Sti. (Tuprag).
Kisladag permitting
The ministry of health in Turkey has now issued the establishment permit for the Kisladag gold project. The company's 100-per-cent-owned Kisladag project containing 5.1 million ounces of gold in proven and probable reserves is being advanced through the permitting process with construction planned to commence in the second quarter of 2004. The establishment permit provides approval for water use and effluent discharge plans, as well as defining the health protection zone and medical treatment facilities for the mine operation. Two permits remain to be obtained prior to construction and the commencement of production. These permits, the opening permit and the construction permit, are anticipated early in 2004 allowing construction to commence in the second quarter of 2004.