TORONTO, Dec. 6, 2017 /CNW/ - Superior Gold Inc. ("Superior Gold" or the "Company") (TSX.V:SGI) is pleased to announce that it has commenced mining of gold mineralization at its 100%-owned Hermes development project, which is located approximately 65 kilometres southwest of the Company's 100%-owned Plutonic Gold Mine in Western Australia (Figure 1).
As previously announced, the first pre-stripping activities at Hermes were initiated on October 12, 2017. The first blast was the start of the Trapper pit, which along with two other pits, Klinger and Hawkeye, will supply initial production from Hermes (Figure 2). Since that time, work has expanded to all three pits and pre-stripping activities have progressed sufficiently to permit stock-piling of the initial gold mineralization at the site. Processing of the first gold mineralization from Hermes is expected by year end with the achievement of commercial production anticipated in the first quarter of 2018.
The Hermes deposit will be mined as a conventional open pit operation. Mined material will be transported by truck along a 65 kilometre haul road to the Plutonic Gold Mine where it will be processed.
Drone video footage showing the completion of the communications tower at the Hermes site can be viewed here. Mining activities at Hermes can also be clearly seen in this video.
Chris Bradbrook, President and CEO of Superior Gold stated: "This is yet another important milestone in the evolution of the Company. We continue to progress development work at Hermes, our second operation, on schedule. The contribution of the ore from Hermes is anticipated to allow us to reach our objective of increasing annual production to 100,000 ounces of gold."
Scientific and technical information in this news release has been reviewed and approved by Alfred Gillman, Fellow AusImm (Chartered Professional, Geology) and a "qualified person" within the meaning of NI 43-101. Mr. Gillman is a Consultant to Superior Gold Inc.
About Superior Gold
Superior Gold is a Canadian based gold producer that owns 100% of the Plutonic Gold Operations located in Western Australia. The Plutonic Gold Operations include the Plutonic Gold Mine, which is a producing underground operation with a central mill, the Hermes open pit development project and an interest in the Bryah Basin joint venture. Superior Gold is focused on expanding production at the Plutonic Gold Operations and building an intermediate gold producer with superior returns for shareholders.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Company's prospectus dated February 15, 2017 filed on SEDAR at www.sedar.com for a discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Superior Gold
For further information: Superior Gold Inc.: Chris Bradbrook, President, CEO & Director, [email protected], Tel: 416-716-8235