Toronto Stock Exchange: VG
VANCOUVER, June 6, 2013 /CNW/ - Veris Gold Corp. ("Veris" or the "Company") (TSX: VG) (OTCQB: YNGFF)
(Frankfurt Xetra Exchange: NG6A) is pleased to provide a mid-quarter update regarding production
improvements at its wholly-owned Jerritt Canyon gold mine and
processing facility in Elko County, Nevada. Jerritt Canyon is operated
by Queenstake Resources USA Ltd. ("Queenstake"), a wholly-owned
subsidiary the Company.
Overall Operational Report
For the month of May, the plant averaged over 3,900 tons per day
producing 14,840 ounces of gold while operating at an 83% average
"Our total processing tonnage of over 121,500 tons is one of the best
production months for the plant to date and demonstrates that we are on
our way to achieving a 4,000 ton per day processing rate," stated R. Llee Chapman, President. "Our gold production for the month was also a Company record. While the
83% recovery rate is an improvement over our previous averages, we will
continue to fine tune the plant to increase this all important
number." Mr. Chapman continued, "The performance in May represents a major turn-around for the Jerritt
Canyon Operations and we are very proud of our entire team at the mine
site. We fully expect the team to continue with this kind of
performance and would like to let all stakeholders know that they can
count on us and our people at Jerritt Canyon to deliver."
The SSX Mine produced in excess of 1,000 tons per day, running close to
1,200 ton per day for a majority of the month, but catching up on
development in the last week of May. Starvation Canyon development
continued in May and multiple headings have now been opened up for
mining, allowing the mine to produce approximately 266 tons per day
during the month with the main constraint being the haulage capacity to
the mill. Small Mine Development, LLC continued their exceptional
performance at the Smith Mine in May, averaging over 1,400 tons per
day. In total, the mining operations produced well over 80,000 tons
for the month and delivered approximately 13,000 ounces of gold to the
mill for processing.
The total ore processed at Jerritt Canyon includes 8,152 tons of Atna
Resources' Pinson Mine ore containing 2,038 ounces of gold delivered
during the months of April and May. The plant has over 1,500 tons per
day of excess capacity that is currently used for processing low grade
Jerritt Canyon stockpile, but in the future will be filled with
additional toll milling ores. The Company is in the process of
discussing additional toll milling contracts with several companies,
including the running of a 5,000 ton test batch; a report on these test
batch results is expected in due course.
The information contained in this news release has been reviewed and
approved by the Company's Vice President of Exploration, Todd Johnson,
P.E., Qualified Person per the requirements of NI 43-101.
About Veris Gold Corp.
Veris Gold Corp. is a growing mid-tier North American gold producer in
the business of developing and operating gold mines in geo-politically
stable jurisdictions. The Company's primary assets are the permitted
and operating Jerritt Canyon mill and gold mines located 50 miles north
of Elko, Nevada, USA. The Company's primary focus is on the
re-development of the Jerritt Canyon mining and milling facility. The
Company also holds a portfolio of precious metals properties in British
Columbia and the Yukon Territory, Canada, including the former
producing Ketza River mine.
On behalf of
"VERIS GOLD CORP."
R. Llee Chapman
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The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release. All material information may be
accessed at www.sedar.com.
Forward-Looking Statements This news release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable
securities regulations in Canada and the United States (collectively,
"forward-looking information"). Forward-looking information includes,
but is not limited to, statements with respect to estimated mineral
resources, anticipated effect of the completed drill results on the
operations at Jerritt Canyon, the interpretation of those results, and
timing and expectations of future work programs. Often, but not always,
forward-looking information can be identified by the use of words such
as "plans", "expects, "is expected", "budget", "scheduled",
"estimates", forecasts", "intends", "anticipates", or "believes", "has
the potential" or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results "may",
"could", "would", "might", or "will" be taken, occur or be achieved.
The forward-looking information contained in this news release is based
on certain assumptions that the Company believes are reasonable,
including, with respect to mineral resource estimates, the key
assumptions and parameters on which such estimates are based, as set
out in this news release and the technical report for the property,
that the current price of and demand for gold will be sustained or will
improve, the supply of gold will remain stable, that the general
business and economic conditions will not change in a material adverse
manner, that financing will be available if and when needed on
reasonable terms and that the Company will not experience any material
accident, labor dispute, or failure of plant or equipment.
However, forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking information. Such factors include, among
others, conclusions of economic evaluations, the risk that actual
results of exploration activities will be different than anticipated,
that cost of labour, equipment or materials will increase more than
expected, that the future price of gold will decline, that mineral
resources and reserves are not as estimated, that actual costs or
actual results of reclamation activities are greater than expected;
that changes in operations may result in increased costs, unexpected
variations in mineral resources and reserves, grade or recovery rates,
failure of plant, equipment or processes to operate as anticipated,
accidents, labour disputes and other risks generally associated with
mining. See our Annual Information Form for additional information on
risks, uncertainties and other related factors. Although the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company does not undertake to update
any forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
SOURCE: Veris Gold Corp.
For further information:
Veris Gold Corp.
Joanne C. Jobin
VP, Investor Relations
T: (647) 964-0292
NA Toll Free: 1-855-688-9427
Veris Gold Corp.
Investor Relations Manager
T: (604) 688-9427 ext 224
NA Toll Free: 1-855-688-9427
T: +49 711 25 35 92 40 E: