Banks Island Gold Ltd. Reports Mining & Processing in Progress at Yellow Giant
03 Marzo 2014 - 3:30PM
Marketwired
Banks Island Gold Ltd. Reports Mining & Processing in Progress
at Yellow Giant
- First longhole blast completed on February 24th.
- Processing of mineralization through DMS plant ongoing.
- Concentrate shipments re-commencing this week.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 3, 2014) - Banks
Island Gold Ltd. (TSX-VENTURE:BOZ) (the "Company") is pleased to
report an update on the Bob Zone bulk sample program at the Yellow
Giant Gold Property, located on Banks Island, British Columbia.
The Company has completed underground development on the B30
level at the Bob Zone since its last update by news release on
February 11th 2014. Mining crews commenced development in gold
mineralization at the B30 level on February 19th and the first
longhole blast was taken in the B10 level on February 24th.
The Company reports that processing of mineralization commenced
on February 22nd and approximately 1,600t of mineralized material
has been mined and processed as of February 28th. The Company has
an additional 600t of mineralized material in broken inventory in
underground stopes at present.
The development and longhole crews are currently working in the
B30 level while extraction of the B10 stopes is underway. The
Company is commencing shipments of concentrate from Banks Island
this week.
The Company has been informed that the review process for its
application for a major mining permit at Yellow Giant is now
complete and has been submitted to the statutory decision makers.
The Company anticipates a positive result and the receipt of its
major mining permit in the near future.
Mr. Benjamin Mossman P.Eng, CEO of Banks Island Gold is the
qualified person who reviewed and approved the contents of this
news release.
The Company is a junior mining resource exploration company
focused on exploring for and developing economically viable mineral
resources. The Company's mineral property is located in British
Columbia. For more information, please refer to the Company's
website at www.banksislandgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Benjamin W. Mossman, P.Eng
President, Director, & Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the accuracy or adequacy of this release.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This press release contains forward-looking statements. All
statements, other than statements of historical fact, constitute
"forward-looking statements" and include any information that
addresses activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future
including the Company's strategy, plans or future financial or
operating performance and other statements that express
management's expectations or estimates of future
performance.
Forward-looking statements are generally identifiable by the
use of the words "may", "will", "should", "continue", "expect",
"anticipate", "estimate", "believe", "intend", "plan" or "project"
or the negative of these words or other variations on these words
or comparable terminology. These statements, however, are subject
to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those
expressed, implied by or projected in the forward-looking
information or statements. Important factors that could cause
actual results to differ from these forward-looking statements
include but are not limited to: risks related to the exploration
and potential development of the Company's project, the actual
results of current exploration activities, conclusions of economic
evaluations, changes in project parameters as plans continue to be
refined, future prices of gold, as well as those factors discussed
in the sections relating to risk factors of the Company prospectus
dated September 30, 2011 filed on SEDAR.
There can be no assurance that any forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, the reader should not place any undue
reliance on forward-looking information or statements. Except as
required by law, the Company does not intend to revise or update
these forward-looking statements after the date of this document or
to revise them to reflect the occurrence of future unanticipated
events.
Banks Island Gold Ltd.Benjamin W. MossmanPresident, Director,
& Chief Executive
Officer604-245-0066www.banksislandgold.com
Banks Island Gold Ltd. (TSXV:BOZ)
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