Hits New Monthly Throughput Record
Shares Outstanding; 363 Million
Symbol & Exchange: BN-TSX
MONTREAL, July 9 /CNW Telbec/ - Blue Note Mining's Caribou zinc-lead
mine, located in Bathurst, New Brunswick, hit a fresh production milestone in
June with the processing of a record amount of ore.
A new record for ore milled was established with 85,537 tonnes
(2851 tonnes per day) or 95% of plant capacity processed in June. A single day
record of 3532 tonnes milled was established on June 29.
Lead concentrate production was on plan while lead recovery at 70.5%
exceeded the plan of 66.7%. In fact, lead recovery exceeded 70% on 16 days
during May and reached a daily record of 78.3% on June 14.
A new monthly zinc recovery record of 78.7% was established in June with
a corresponding zinc concentrate grade of 50.4% zinc. The zinc recovery
exceeded 80% on 11 days and 83% on 6 days. An all time daily zinc recovery of
84.8% with a corresponding concentrate grade of 50.7% zinc was established on
"I am very pleased and excited as this upward trend in production and
metallurgical performance continues," said Chief Operating Officer, John
Martin. "With the production now becoming optimized we can turn our attention
to ways of lowering costs."
"We have done it," said Michael Judson, President and CEO of Blue Note
Mining. "This is the operational turnaround story of the decade. It is thanks
to the high quality of our team. We have brilliant people doing a brilliant
Mr. Art Hamilton, Regional Exploration Manager of Blue Note Caribou Mines
Inc. today reports the following update on the exploration work performed on
its New Brunswick properties:
Caribou and Armstrong
The Armstrong and Caribou properties located within a 25 kilometer radius
from the operating Caribou concentrator are the core of Blue Note's
exploration holdings. The geology underlying this area is considered very
prospective for the discovery of additional zinc-lead-copper-silver
The prolific Caribou ore horizon which is still inadequately explored
both along strike from the deposit and at depths greater than 400 meters in
the vicinity of the deposit is the main exploration target of the current
exploration program at Caribou.
The Armstrong exploration program is focusing on geological units that
host the Armstrong A & B deposits, the Rocky Turn deposit and the Armstrong
C & D mineral occurrences, which include significant grades of
zinc-lead-copper-silver mineralization in historical diamond drill
The deep-earth imaging Titan 24 DCIP and MT geophysical survey, which can
probe the ground to depths greater than 1 kilometer, has been completed on the
Armstrong and Caribou properties. The Armstrong survey was completed in
February and totaled 91 line-kilometers while the Caribou survey was completed
in late June and covers 128 line-kilometers.
Results are pending for the Caribou survey but preliminary results at
Armstrong indicate that the Titan 24 survey successfully highlighted
significant anomalies located below and in the vicinity of the Armstrong B
deposit. A 4,000 meter diamond drilling program is now in progress with the
objective of testing the newly outlined exploration targets in the Armstrong
area. Once completed, the drilling crew will be mobilized to the Caribou
property where 3,000 meters of diamond drilling is planned for 2008.
On May 7, 2008, Blue Note Mining signed an option agreement with the
owners of the Rocky Turn property, consisting of 14 mineral claims. Under the
agreement, the company may acquire a 100-per-cent undivided interest in the
property by cash payments totaling $50,000 over a period of one year and by
conducting a Titan 24 geophysical survey over the Rocky Turn Deposit. Further
to the acquisition, the property is subject to a net smelter royalty of
2-per-cent where 50 per cent can be purchased by the company at any time for
John Martin, Chief Operating Officer, Blue Note Mines Inc. is a Qualified
Person and has reviewed the technical information contained in this press
Arthur Hamilton, P.Geo., Regional Exploration Manager, Blue Note Caribou
Mines Inc. is a Qualified Person and has reviewed the technical information
contained in this press release.
Blue Note Mining is a Canadian mining company headquartered in Montreal
with operations in Bathurst, New Brunswick. The company's shares trade on the
TSX Exchange 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 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, email@example.com,