AnnouncementTORONTO, ONTARIO -- Ivernia Inc.("Ivernia" or the "Company") (TSX:IVW) announces that the Company hasvoluntarily delayed the resumption of regular transport operations fromthe Magellan Mine in Western Australia, however mining and processingoperations are continuing to ramp-up.
Ivernia's wholly-owned subsidiary, Magellan MetalsPty Ltd ("Magellan Metals"), has been advised by the Office of theEnvironmental Protection Authority of Western Australia (the "OEPA")that it had information suggesting some trains carrying containers withbagged lead concentrate may not have traveled along the usual rail routefrom the Magellan Mine to the Port of Fremantle. Magellan Metals hasinvestigated this matter and has been advised by its rail transportcontractor (the "Contractor") that between November 10, 2010 and January4, 2011, 10 trains carrying a total of 159 containers with leadconcentrate were routed by the Contractor to the Port of Fremantle alonga 12 kilometer rail line that is not part of the usual rail route.
The decision to divert some trains was made by theContractor without Magellan Metals' approval or knowledge. TheContractor has categorically assured Magellan Metals that no futuretrains will divert from the usual rail route.
There is no suggestion that any lead has escaped thesealed shipping containers, nor that there is any public health risk.Although it is not required under the Ministerial conditions related tothe transport of lead concentrate, Magellan Metals has temporarilydelayed the resumption of its regular transport and is voluntarilyundertaking soil sampling for lead analysis and isotopic testing alongthe 12 kilometer route.
It is important to note the following key points about the transport of containerized lead concentrate from the Magellan Mine:
- Extensive sampling since commencement of transport in September 2009 of nearly 300 individual monitoring and sampling sites along the usual transport route from the Magellan Mine, near Wiluna, through, to, and within the Port of Fremantle has identified no Magellan lead, and has clearly demonstrated that there is no public health risk from containerized transport operations. Relevant data has been regularly posted on the Magellan Metals website since transportation began in September 2009.
- The results of this extensive monitoring clearly demonstrates the effectiveness of the industry-leading processes Magellan Metals has developed and implemented for the safe transport of lead carbonate concentrate.