Business
Para Provides a Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - October 30, 2018) -   Para Resources Inc....
About this update from Soma Gold Corp.
[{"type":"text","content":"Para Provides a Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - October 30, 2018) -  Para Resources Inc.(TSXV: PBR) (WKN: A14YF1) (OTC Pink: PRSRF) (the \"Company\" or \"Para\") is pleased to provide the following updates to the current operations:Gold Road Mine, Oatman ArizonaPara is in final negotiations with a world-class underground mining contractor for the operation of the Gold Road mine. Mobilization will begin in November with the first crews beginning works by mid-November.Work is ongoing to update the detailed mining plan and schedule to optimize initial grade and maximize the efficiency of development to ensure steady production while minimizing upfront costs. Commission of the plant will begin in December with steady state production of at 250TPD in Q1 2019, after which production will ramp up to 500 TPD. First gold pour is expected in early DecemberPlant rehabilitation has already begun with completion of all major repairs already complete. Plant and maintenance management is already in place with crews continuing check-up and cleanup work. All long-lead capital items have been ordered with no expectations of delaying startup. Gold Road's GM Kenneth Kins, a mining engineer with extensive experience in narrow-vein high-grade underground gold mining experience is now onsite coordinating re-start and together with management is working to build the production team.Mr. Harris, further states, \"We are please with the advance of the Gold Road project with continued economics consistent with those presented in our PEA, and robust upside in terms of production, grade, and costs. We look forward to commissioning of the project and production of doré within the next 60 days.\"El Limon Mine, Zaragoza, Colombia The commissioning of the mill has now been completed with maximum throughput at 225 TPD and recoveries at greater than 85%.The installation of a new hoist and skip for the El Limon underground is almost complete and expected to be operational within the next 2-3 weeks. The new tailing pond with pipeline is in the final stages of construction with reclaim water to be re-used as process water. Pumps and piping are now onsite and being installed. Completion is expected within the coming 2-3 weeks.Underground mining at El Limon has resumed with daily production at 45 TPD with five development a...