/NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH A
U.S. NEWSWIRE SERVICE/
PERTH, Western Australia, Oct. 17 /CNW/ - DIORO EXPLORATION NL ABN 31 009
271 532 (ASX/TSX: DIO) - Dioro Exploration NL wishes to provide an update to
the status of the wall failure at the Mt Marion pit. On 24th September the
company advised the market that a pit slip had occurred at Mt Marion blocking
access to approximately 13,000 ounces of blasted broken ore stocks whose gold
content has a gross in situ value in excess of $16M at current gold prices.
Some 70,000 bank cubic metres ("BCM") of waste material have been removed
to date from the south wall of the pit to remediate the wall above the slip. A
drill rig has commenced on upgrading the pit dewatering bore system.
Earth moving has temporarily ceased while drilling and dewatering works
are carried out to reduce water inflow into the pit thereby allowing access to
the slip material of which a portion has moved further and settled into the
bottom of the pit.
The removal of the slip material and remediation of the wall will
recommence once the dewatering work is complete.
The Jubilee mill is still running at full capacity and has provided the
company with a record tonnage month for September, with 103,584 tonnes of
throughput and 7,478 ounces poured. The Company still expects to produce in
excess of 90,000 ounces for the 2009 calendar year.
Dioro is a dual listed (ASX and TSX) (Code DIO) Australian gold producer
with attributable Ore Reserves of 525,000 ounces and Measured and Indicated
resources in excess of 2,100,000 ounces. Dioro owns the 1.2Mtpa Jubilee
processing facility that is located 30km from Kalgoorlie, Western Australia,
with all attributable resources and reserves located within 50km of the
Dioro has 1500 square kilometres of prime exploration acreage. Dioro also
has exposure to uranium exploration in Western Australia with Vale spending
A$4 million to earn a 60% interest in the Kunderong Uranium project.
The information in this report that relates to Exploration Results,
Mineral Resources and/or Ore Reserves is based on information provided by Mark
Cossom MAusIMM and Mark Pitt FAusIMM, employees of Dioro Exploration NL and
compiled by Mr R Grivas, MAIG, MAusIMM an employee of Dioro Exploration NL.
Mr Grivas, Mr Cossom and Mr Pitt have sufficient experience that is relevant
to the style of mineralisation and type of deposit under consideration and to
the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified
Person under the provisions of National Instrument 43-101. Mr Grivas,
Mr Cossom and Mr Pitt consent to the inclusion in the report of the matters
based on his information in the form and context in which it appears.
Caution Regarding Forward-Looking Statements: The forward-looking
statements made in this release are based on assumptions and judgments of
management regarding future events and results. Such forward-looking
statements, including but not limited to those with respect to the operations
at the company's South Kal operations and the Frog's Leg joint venture and the
company's capital expenditures and expected future production involve known
and unknown risks and uncertainties which may cause the actual results,
performance or achievements of the company to be materially different from any
anticipated future results, performance or achievements expressed or implied
by such forward-looking statements. Such factors include, among other things,
the actual market prices of gold, the actual results of current exploration,
the actual results of future mining, processing and development activities,
changes in project parameters as plans continue to be evaluated, as well as
those factors disclosed in the company's public documents.
Currency: Unless otherwise noted, all figures in this news release are
expressed in Australian Dollars
For further information:
For further information: Rhod Grivas, Managing Director, Dioro
Exploration NL, Ph: +61 8 9389 8799; David Tasker, Allan Francis, Professional
Public Relations, Ph: +61 8 9388 0944