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Para Releases Request for Proposals for Contract Mining at Gold Road Mine in Arizona
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2018) - Para Resources Inc. (TSXV: PBR...
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[{"type":"text","content":"Para Releases Request for Proposals for Contract Mining at Gold Road Mine in ArizonaVancouver, British Columbia--(Newsfile Corp. - June 20, 2018) - Para Resources Inc. (TSXV: PBR) (WKN: A14YF1) (OTC Pink: PRSRF) (the \"Company\" or \"Para\") is pleased to announce that Requests for Proposal (\"RFP\") have been sent out to seven qualified contract mining bidders for the mining contract at the Company's Gold Road Mine in Northwest Arizona. The RFPs requested that bidders provide pricing and terms for mining and extracting 500 TPD in a combination of shrinkage stopping and Alimak mining methods as described in the recently published PEA by RPMGlobal dated May 3, 2018, and entitled \"NI 43-101 Technical Report, Preliminary Economic Assessment of the Gold Road Mine, Arizona, USA\" (filed on SEDAR on May 4, 2018). The RFP also asked bidders to propose value engineered alternatives based on their preference and experience. Bids are expected by the end of July 2018. Ian Harris, Para's President, states, \"This is an important step for the Gold Road Mine as we move forward with our plan to start-up mining operations in October of this year. The ramp up plan contemplates initial production of 250 TPD growing to 500 TPD in early 2019. In parallel, we are also receiving quotations for the construction of a new shaft for extraction of mined material and waste, which will dramatically reduce extraction costs over the current method of hauling up the 2-mile long decline.\" Harris further states, \"All of the needed permits for operating the Gold Road Mine are in place, and once a successful bidder is selected, we will move immediately to complete contracts and begin the mobilization process. We are currently recruiting senior staff at Gold Road and expect to have the operations team in place within the coming months.\"ABOUT PARA RESOURCES:Para is a junior producing gold mining company. Para owns approximately 80% of the El Limon project, in Colombia, which, in addition to its current underground operation, is purchasing mineralized rock mined by small artisanal miners working on the Company's property. The El Limon and OTU properties also have exploration and development upside. The Company also owns 88% of the Gold Road Mine in the Oatman District of Arizona. RPM Global recently produced an NI 43-101 Technical Report and PEA, establishing a M...