Business
TVI Pacific Inc. Announces Closure of Milling Operations at its Canatuan Mine
Various mine life extension and expansion opportunities are being assessed which could r...
About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n\n\n\nVarious mine life extension and expansion opportunities are being\n assessed which could result in resumption of milling operations\n\n\n\n\n\n\nTSX: TVI  OTCQX: TVIPF\n\n\nCALGARY, Jan. 20, 2014 /CNW/ - TVI Pacific Inc. (TSX: TVI) (OTCQX:\n TVIPF) (\"TVI\" or the \"Company\") announced today that TVI Resource Development Philippines, Inc. (\"TVIRD\"), TVI's Philippine operating affiliate, has stopped milling operations\n at its Canatuan mine after having exhausted its remaining stockpile,\n pending the results of assessing various mine life extension and\n expansion opportunities.  It is expected that at least one more\n shipment of copper concentrate will be scheduled.\n\n\nThe Company is proud to report that:\n\n\n\nSince completing construction in November 2008 of a sulphide production\n plant at Canatuan to process the underlying sulphide orebody containing\n copper and zinc, the Company has completed 38 shipments of copper\n concentrate for a total volume of 195,660 dmt and 7 shipments of zinc\n concentrate for a total volume of 30,548 dmt, as compared to an\n initially anticipated 119,800 dmt of copper concentrate and 6,100 dmt\n of zinc concentrate.  Reserves mined significantly exceeded initial\n reserves as a result of additional material found and mined.  This\n material, consisting of banded sulphides with low-grade chlorite\n schists, was used in ore blending to optimize mill recoveries and was\n located both inside and outside the pit shell and not included in the\n original ore reserves.\n\n\n\n\nThe copper and zinc operations at the Canatuan mine have provided a 5.9\n year mine life as compared to an initially anticipated 5 to 6 year mine\n life, but actual mill throughput has been much higher than planned. \n Actual mill throughput in recent months was increased to approximately\n 3,500 tonnes per day.\n\n\n\n\n\n\nThe processing plant will be cleaned but equipment will not be\n dismantled while the Company continues to assess mine life extension\n and expansion opportunities, including the possible processing of\n mineralized waste dump material, possible new discoveries from\n exploration drill targets outside of the pit area, possible production\n of pyrite concentrates, re-processing of tails and exploitation of\n possible economic deposits from outside the current MPSA (Malu...