Exchange: TSX V Symbol: BEL
VANCOUVER, Sept. 25 /CNW/ - Belvedere Resources Ltd. BEL:TSX-V
("Belvedere") is pleased to report that its wholly owned subsidiary Finn
Nickel Oy has today been granted an environmental permit to mine the
Sarkiniemi East ore zone, at its Sarkiniemi Nickel Mine in Eastern Finland.
The east ore-body is one of a number of mineralisations that make up the
Sarkiniemi Mine Complex. Mining the East ore will have a low additional
environmental impact, as it is a completely underground operation accessed
through the existing mine workings. Mining is subject to similar noise and
hauling restrictions under which the mine is currently now operating to
minimise impact on the local community. Finn Nickel is also investigating the
development of the nearby Valkeisenranta nickel project, 2 km west of
Sarkiniemi, with the aim of revitalising the old Kotalahti mining district.
Mining to date at Sarkiniemi has concentrated on the Western orebody,
where mining commenced from a small open pit in May 2007. Underground
development commenced in December and the West ore body is forecast to be
mined out in November 2008. Mining will then move to the East ore body, some
200 metres away. The underground development is already in place allowing
stoping of ore to commence immediately. Ore will continue to be trucked to
Belvedere's Hitura Nickel mine for concentration. To date the Sarkiniemi mine
has produced 600 t of nickel in concentrate and is forecast to be in
production until May 2009.
The permit awarded by the Environmental Permit Office of Eastern Finland,
also covers the Pohja- and Vali-mineralised bodies, which with the current
density of drilling remain sub-economic.
Belvedere Resources Ltd. is a publicly-listed resource company engaged in
the business of nickel production and exploring, discovering and developing
mineral wealth in Finland. Belvedere currently produces 2,500 tonnes annually
of nickel metal in concentrate from its 100% owned Hitura Nickel Mine in
Western Finland and Sarkiniemi Nickel Mine in Eastern Finland.
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statement,
which involve known and unknown risks and uncertainties. Without limitation,
statements regarding future plans and objectives of the Company, including
mining ore from Sarkiniemi East, are forward looking statements that involve
various degrees of risk. It is important to note that the Company's actual
results and actions could differ materially from those in such forward-looking
This statement is prepared by Dr. Toby Strauss, who is acting as
Qualified Person in compliance with National Instrument 43-101 with respect to
David Pym, CEO
Suite No. 404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of the contents of this news release.
For further information:
For further information: David Pym (CEO) or Toby Strauss (COO) at (604)
844-2838; or visit www.belvedere-resources.com