REASON FOR BIG VOLUME
Erin begins commercial Au production at Ceibo Chico
2007-10-02 18:15 ET - News Release
Mr. Blake Fallis reports
COMMERCIAL GOLD PRODUCTION COMMENCES ON BELIZE PROPERTY
Commercial production of gold is under way on Erin Ventures Inc.'s Ceibo Chico property in Belize. Field trials of Erin's gold recovery dredge are now complete, with the dredge operating at or near its design capacity. The production goal for the dredge is to process 60 plus yards of gold-bearing material per hour, 18 hours per day, six days a week, for as long as the property yields a sufficient quantity of economically viable material to justify continued operation.
Field trial production results
Production results during the field trials met management's expectations and include:
- A total of 13,959.9 grams (448.8 ounces) of placer gold were recovered over 69 days of field testing.
- Gold recovery rates averaged 0.48 gram of gold per cubic yard, worth $11.26 (U.S.) per cubic yard(1).
- Direct recovery costs averaged approximately $1.96 (U.S.) per cubic yard(2).