/NOT TO BE DISTRIBUTED OR DISSEMINATED IN THE U.S./
TORONTO, March 6 /CNW/ - South American Gold and Copper Company (the
"Company" or ("SAGC") (TSX-SAG) announces a progress report on Pimenton.
- Work on the Esperanza adit, the new main operating access to the
mine, is in progress.
- The old damaged plant roof, walls and supporting structures have been
completely removed. Work is on schedule on a retaining wall on which
a new roof will rest. The new roof will be smaller and much stronger
than its predecessor and installation can be completed while the
plant is in operation.
- Plant reconditioning is on schedule. Most of the equipment damage
occasioned by the collapse of the old roof has been repaired. To
improve plant efficiency, a 100 ton fine ore bin is being installed
as well as a new filter press.
- The repaired and improved plant will have an operating capacity of
220 tons per day. Initially, the plant is expected to operate at 50
tons per day (TPD) gradually increasing to 100 TPD, and then to plus
200 TPD as mine development progresses.
- Additional snow removal equipment has arrived in Santiago, and
further equipment has been ordered for delivery by May 2008. It is
management's intention to keep the mine in operation through the
coming Chilean winter months.
South American Gold and Copper Company Limited is a minerals producing,
exploration and development company with properties and activities currently
focused in Chile.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the company, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect," "project,"
"intend," "believe," "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These factors include the inherent risks involved in the
exploration and development of mineral properties, the uncertainties involved
in interpreting drilling results and other ecological data, fluctuating metal
prices, the possibility of project cost overruns or unanticipated costs and
expenses, uncertainties relating to the availability and costs of financing
needed in the future and other factors. The Company undertakes no obligation
to update forward looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to place
undue reliance on forward-looking statements.
For further information:
For further information: Registered Office: 100 WELLINGTON STREET WEST,
SUITE 500, TORONTO, ONTARIO, M5K 1H1, CANADA; New York Representative Office:
420 MADISON AVENUE, NEW YORK, NEW YORK, 10017; Santiago Office: LA CONCEPCION
266, OF. 704, PROVIDENCIA, SANTIAGO, CHILE, Telephone: 56-2-264-2295, E-Mail:
firstname.lastname@example.org; For further information, contact: Patrick Esnouf, President,
David R. S. Thomson, Executive Vice President, Website: www.sagc.com