Dynacor Gold Mines Inc. (dynacor)
Toronto Stock Exchange (TSX)
MONTREAL, Feb. 24 /CNW Telbec/ - In early 2008, Dynacor began upgrading
its Acari custom gold milling plant. This process was continued throughout the
year and Dynacor is now pleased to announce that the plant now has a
sustainable capacity of 180 tons/day after a 2-month testing period during
which this milling rate was maintained.
The Acari plant - a custom gold milling operation that purchases gold ore
from miners in the region - has increased its capacity by 100% as compared to
the beginning of 2008 when the capacity was 90 tons/day. This increase in the
plant's capacity has enabled the Company to sell more than a ton of gold in
2008 (total gold sales of 36,800 ounces in 12 months - see Press Release dated
February 10, 2009).
Commenting on these results the Company's CEO, Jean Martineau, recently
stated "We are extremely satisfied with the Company's results in 2008, we
surpassed our 30,000 ounce gold production target and are confident that we
can continue developing the Company's activities along two axes, namely
furthering the exploration of our very promising Tumipampa property and
continuing the modernisation of our custom gold milling plant at Acari."
UPGRADING THE ACARI MILL
The purchase of new equipment for the Acari Plant during 2008 was key to
increasing the milling capacity and the amount of gold it produced. As this
equipment went on line capacity first increased to 120 tons/day in March and
then to 140 tons/day in October (see Press Releases dated 16th of April and
12th of November 2008).
Upgrading the plant involved two distinct approaches: increasing capacity
and increasing process flexibility. The former involved the installation of
two new ore crushers (a cone and a jaw crusher), a new ball mill and 4 new
cynanidation tanks. Increasing process flexibility involved the building and
testing of a Merrill-Crowe treatment unit that allows the plant to process
very high grade ore and maximise gold and silver recuperation.
During 2009, Dynacor will continue its investment and development plan
for Acari. The Company is at present looking into various scenarios that
should allow it to reduce its operating costs and increase its income.
Following its successful 2008 exploration campaign (see Press Releases
dated July 15, 2008 and September 4, 2008) that led to the discovery of three
types of gold mineralisation including a mineralized Skarn structure, Dynacor
is keen to continue the exploration of this very promising property. The
Company's geologists are presently completing the exploration plan and budget
for 2009 and Dynacor will announce as soon as possible the beginning of the
2009 exploration campaign.
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold exploration and mining company, that has been active in
Peru through its subsidiaries since 1996. The Company's assets include the
Acari, Casaden and Tumipampa exploration properties. The Acari mill produces
gold by custom milling. Dynacor's strength and competitive advantage comes
with the experience and knowledge the Company has developed while working in
Peru. Its pride remains in maintaining respect and positive work ethics toward
its employees, partners and local communities.
For further information:
For further information: Jean Martineau, President & CEO, Dynacor Gold
Mines Inc., (514) 288-3224