Shares Outstanding: 363 Million
Symbol & Exchange: BN-TSXV
MONTREAL, Jan. 9 /CNW Telbec/ - Blue Note Mining reports that its Caribou
Mining operation is close to planned metallurgical performance and achieved
commercial production effective January 1, 2008. This is pursuant to an
operational and performance review of the mine which commenced operations in
After one week in January, Caribou milling operations averaged zinc
recovery of 77.8% and averaged a concentrate grade of 50.4%. Lead recovery
averaged 71.7% with a concentrate grade of 45%.
"This looks extremely encouraging and keep in mind these are averages,"
said Michael Judson, Blue Note President and Chief Executive. "We have days
when zinc recoveries achieve our target of 80%."
There has been a consistent and continuous improvement in metallurgical
performance at Caribou. By the end of 2007, the zinc concentrate grade was on
plan at 48-51% zinc while zinc recovery at that time ranged from 74-79% range.
By the end of 2007, the lead circuit was operating as planned producing a
concentrate assaying 42- 46% lead with a lead recovery of 58-72% and a silver
recovery of 34-38%.
Mill throughput was typically in the 110 tonne per hour to 120 tonne per
hour range. The monthly mill throughput averaged 1,936 tonne per day during
the last quarter of 2007 as operational issues affecting operations stability
and continuity were addressed. All planned production targets are expected to
be achieved during the first quarter of 2008.
Caribou was commissioned in July and saw continued optimization through
the end of 2007. Blue Note's Isa Mills, break-through grinding mills
especially acquired by the company to treat Caribou's finely-grained ore have
performed well, providing the ultra fine grinds required to achieve the
planned lead recovery targets. The required fine primary grind and zinc
regrind sizing was also consistently achieved using conventional ball mill
"I want to commend our employees for their efforts that have permitted us
to achieve our metallurgical objectives" added John Martin. "I am also
confident that we are taking the necessary steps to improve operating
stability and that will enable us to meet our 2008 production objectives."
John Martin, Chief Operating Officer of Blue Note Mining Inc. is a
Qualified Person and has reviewed the technical information contained in this
Blue Note Mining Inc. is a Canadian mining company headquartered in
Montréal with operations in Bathurst, New Brunswick. The Company's shares
trade on the TSX Venture Exchange under the symbol "BN". Blue Note has
received conditional approval to list its common shares on the Toronto Stock
Exchange ("TSX") with trading to commence in early 2008 under the symbol "BN".
This news release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws that involve
risks and uncertainties. Although the company believes the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurances that its expectations will be achieved.
Factors that could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by government
authorities, uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products and
competitive pressures. These factors and others are more fully discussed in
Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information:
For further information: Lorne Woods, Vice President Investor Relations,
Blue Note Mining, (800) 937-3095, firstname.lastname@example.org,