Business
Liberty Reports First Quarter Production and Exploration Update
Liberty Reports First Quarter Production and Exploration Update
About this update from Electric Metals Usa Limited
[{"type":"text","content":"\nLiberty Reports First Quarter Production and Exploration Update\n\n\n Apr. 20, 2010 (Filing Services Canada) -- Liberty Mines Inc. (LBE - TSX), is pleased to report the first quarter of 2010 (\"Q1\") production results from its mining operations at the Redstone and McWatters nickel mines near Timmins Ontario. Production continues to increase from the McWatters mine. During March 2010, 25,464 tonnes of ore was processed at the Redstone nickel concentrator (\"Mill\"), being 48% of the 53,415 tonnes processed during Q1. Ore processed at the Mill during Q1 increased by 39% over the 38,529 tonnes during Q4 2009. Gary Nash, Liberty's President & CEO, commented \"We processed 821 tonnes per day in March as we continue to ramp up our mine and mill operations to 1800 tonnes per day. Our target can be reached when mining from the McWatters open pit commences shortly. When the core of the pit is exploited, sublevel caving of the underground orebody can provide the tonnage necessary to continue to operate the Mill at the desired rate.\"Ore from development of the stopes and access drifts contributed to most of the tonnage from both mines during Q1. As a result, the grade at both mines was less than the grade that will be exploited from the developed stopes in the near future. The payable metal production during Q1 was 663,682 pounds of nickel, 28,960 lbs of copper, and 6,327 lbs of cobalt; subject to final agreement of analyses from the smelter provided in the quotational months, being the third month forward from the processing months. Average metallurgical recovery was 83.4% which was down slightly due to the lower grade development ore mined from the Redstone mine.Redstone MineThe 1550 sublevel is complete and long-hole blasting is underway.  Waste development of the 1250, 1350 and 1450 sublevels is complete. The mine is currently operating with one shift 4-on-4-off 7 days a week. Grade is expected to improve significantly from the new stopes that can now be mined. Production is also expected to increase to meet or exceed the guidance of 89,000 tonnes mined during 2010.McWatters MineDevelopment of the 65m and 85m levels is complete. The west cut-and-fill stopes at the 155m level are complete and the emphasis underground is now on developing the 120m and 140m levels to enable sublevel caving and blast hole stoping to commence ...