RSM Has Received First Shipment of Gold Dore' From Concentrate Shipped to the Offsite Cyanide Treatment Facility
26 August 2008 - 1:49AM
Marketwired
ROYAL STANDARD MINERALS INC. (TSX VENTURE: RSM)(OTCBB: RYSMF)
("RSM") - RSM has received the results of the first shipment of
gold dore' from the latest gold concentrate shipped in early July
to the offsite cyanide treatment facility. The offsite facility
received and processed 2 tons of concentrate producing 149.01
ounces of gold dore' as part of an initial shipment to determine
the effectiveness of the process of preparation of concentrates at
Goldwedge. According to Roland M. Larsen, Qualified Person who has
read and approved this press release, "we are pleased with the
results of this first shipment and look forward to continued
increases in the volume and grade of the concentrates to be shipped
to the treatment facility going forward."
Plans are to continue to increase the number of concentrate
shipments and the concentrate grade with each successive shipment.
Initially, the Company will attempt to ship at least one shipment
per month for processing. Our target concentrate shipment grade is
500 ounces per ton, we are currently producing approximately 100
ounces per ton of gold concentrate. The next shipment is expected
to contain between 100-150 ounces of gold concentrate. Continued
improvements in feed grade will result in significant improvements
to the concentrate grade. Increases in the plant throughput from
the current 100-150 tons in a 10 hour shift is expected to double
in the near future. The feed has been slowed down to help insure
that the ball mills are producing an acceptable product to the
concentrators as part of an effort to keep the gold recoveries from
the gravity circuit in the 70% range.
Cyanide testing of the gold concentrates is ongoing and are
yielding very positive results, indicating gold recoveries in the
mid 90% range with very low cyanide consumption. A preliminary flow
chart and plant design of a closed circuit system has been
completed and a report is forthcoming.
The gold feed grade is expected to improve, currently the
Company is mining higher grade material within the upper portion of
the underground development, in conjunction with continued decline
construction. The dewatering program is proceeding at a slower rate
than was anticipated, this has slowed the decline development. The
lower most crosscut is currently under construction, this effort is
targeted to intersect one of the better gold zones on the property.
This drifting is about 50% of the way to the target.
Mining of the higher grade gold bearing material is concentrated
within the southern "F" crosscut , the "H" crosscut and the "B"
crosscut. The mine grades of this material have been carrying a
head grade that ranges from 0.1-0.20 opt as current feed to the
plant.
The drilling crew has been on vacation for some time and is
expected to commence drilling underground in September at
Goldwedge.
RSM is an exploration and development company with interests in
coal and precious metals in the United States.
The information presented in this press release is subject to
the various regulatory approvals.
The Canadian Venture Exchange does not accept responsibility for
adequacy or accuracy of this release as per Exchange Policy 3.3
section 6.5.
Royal Standard Minerals cautions that the statements made in
this press release and other forward looking statements made on
behalf of the Company may be affected by such other factors
including, but not limited to, volatility of mineral prices,
product demand, market competition, imprecision of mineral
estimates, and other risks detailed herein and from time to time in
the Securities and Exchange Commission filings of the Company.
C.U.S.I.P. # 780919106
LISTED: STANDARD & POORS OTCBB:RYSMF
Contacts: Royal Standard Minerals Inc. Roland Larsen
775-487-2454 775-775-2460 (FAX) royalstandardminerals.com
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