TORONTO, June 23 /CNW/ - GobiMin Inc. (the "Company" or "GobiMin") is
pleased to report that operations in the second quarter are back to normal.
The Company sold this quarter approximately 670,000 pounds of nickel contained
compared to 663,000 pounds in the second quarter of 2007.
2008 Additional Exploration
The 2007 drilling program identified a North West mineralization
extension to near-surface of the main Lens No. 30. In the first part of 2008,
a total of 12 boreholes totalling 3,262 meters were drilled in order to
confirm the continuity, shape and occurrence of this mineralization. As the
field work was only recently completed, core drills are still being assayed
and analysed. This exploration program is crucial to help the Company make a
decision to mine this lens ahead of mining Lens No. 30.
Mine Design, Construction and Infrastructure
Construction of shafts and head frames has already started. The mine
design envisages a total of 4 head frames and shafts for the mining of Lens
No. 30 which are comprised of one main shaft and one auxiliary shaft for
production and two ventilation shafts. This mine design complies with China's
national standards on production safety requirements and industry practice.
Installation of temporary equipment required for shaft sinking is already
completed. The equipment include single hoist drum, heightened sinking head
frame, discharge chute, shaft suspension facilities and concrete mixer for the
main, auxiliary and ventilation shafts. The planned depth of the main shaft,
auxiliary shaft and ventilation shafts Nos. 1 and 2 is 1,025 meters, 995
meters, 836 meters and 728 meters respectively. Up to May 2008, shaft sinking
of the main shaft, auxiliary shaft and ventilation shaft Nos.1 and 2 has
reached 55.5 meters, 34.5 meters, 205 meters and 186 meters respectively. All
shafts sinking are expected to complete by early 2010. The mine production and
corresponding processing capacity is planned at 4,000 tonnes per day.
Local government has completed the design and construction drawings of
the 47 km water supply line. Construction of a new power line of 55 km and the
12,250 KVA main transformer as well as the water supply line to supply the
mine site is expected to start soon. In addition, power facilities and mine
access roads are now in service.
About GobiMin Inc.
GobiMin Inc. is a junior mining company with nickel/copper sulphide
operations and development properties in northwestern China. GobiMin, through
Yakesi, controls three concessions, within a 10-kilometre radius, totaling 455
hectares. In operation since 1999, GobiMin currently operates two underground
mines (Yellow Mountain East and Xiangshan) and is also currently developing
its Yellow Mountain nickel/copper deposit. GobiMin's common shares are traded
on the TSX-Venture Exchange under the symbol GMN.
FORWARD-LOOKING STATEMENTS AND RISK FACTORS
This news release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and uncertainties
beyond the GobiMin's ability to control or predict which could cause actual
events or results to differ materially from those anticipated in such
forward-looking statements. There is no guarantee that the Yellow Mountain
deposit will be successfully placed in commercial production. Readers should
not place undue reliance on forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
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For further information:
For further information: James Xiang, Chief Financial Officer, GobiMin
Inc., Tel: (416) 915-0133, email@example.com, www.gobimin.com