TORONTO, Oct. 5 /CNW/ - Win-Eldrich Mines Limited (WEX, TSX Venture
Exchange), minority owner of Ashdown Project LLC, which owns a Nevada-based
molybdenum mine, announces that the replacement of new liners and lifters in
Ashdown's 100-ton ball mill has been completed and regular grinding and
flotation operations have resumed at the Ashdown mine. Golden Phoenix Minerals
Inc., the mine's manager and majority owner, has advised that the replacement
was completed on September 7, 2007, on schedule and within budget, and that
the ball mill is now operating at full capacity.
During the 4-week period that the liners and lifters were being
fabricated and installed, the mill staff continued production of concentrates
by re-processing molybdenite contained in tailings stored in the impoundment
pond. With the return to service of the ball mill in September, the grinding
of new ore has resumed and routine milling operations have been fully
Crews continue the systematic upgrade of a number of components in the
mill circuit in order to minimize unscheduled maintenance in the future. This
work is expected to be substantially complete by the end of October, clearing
the way for optimization of recovery and grade through full-scale stope
mining, which Golden Phoenix advises is planned to begin early next year.
Kent Aveson, an experienced mining professional, has been appointed
General Manager of Ashdown Project LLC. In this position, Mr. Aveson is
charged with bringing the Ashdown mine through its final phases of start-up
and into full-scale production. Mr. Aveson will be leaving his post as
Director of Continuous Improvement at Barrick Gold and assume his
responsibilities at Ashdown beginning October 15, 2007. Trained as a
geological engineer, Mr. Aveson is a veteran mine manager with 33 years of
experience throughout the industry including in operations, project
management, engineering, permitting, start-ups and reclamation. At Barrick,
Mr. Aveson worked in support of mine operations to problem solve, plan,
develop and train improvement teams by which to deliver significant annual
cost savings. Mr. Aveson has also held positions as general foreman, mine
superintendent and manager of mines for large scale operations in Colorado,
Ohio and New Mexico. He is a former member of the board of directors of the
New Mexico State Mining Association and has managed engineering departments
and special projects. Mr. Aveson is a two-time recipient of MSHA's top
Sentinels of Safety Award and a four-time winner of the New Mexico Operator of
the Year Award. Mr. Aveson earned his B.Sc., Geological Engineering, from the
University of Utah.
Ashdown Project LLC has also appointed Fred Quimby to the position of
Mine Manager. Mr. Quimby is a 40-year mining professional with a proven record
of success. His employment history includes mining and management roles at
Sunshine, Bunker Hill, Harrison Western, Todito Exploration, Centennial,
Redpath and Atlas Minerals. He has specialized in all aspects of underground
mining, including heavy equipment operation, drilling and blasting, mine
planning, staffing, supervision and business development. Most recently, Mr.
Quimby was General Manager of a private sector contract mining company. A
native of the Kellogg, Idaho mining district, Mr. Quimby studied mining at the
Colorado School of Mines and is a certified Federal Mine Safety Instructor.
Mr. Quimby replaces Earl Harrison, who has left Ashdown to pursue other
interests. Earl's contributions to Ashdown are much appreciated and
Win-Eldrich management wish to thank Earl for his efforts and wish him every
success in the future.
This news release includes certain forward-looking statements within the
meaning of applicable securities laws concerning the future performance of our
business, its operations and its financial performance and condition, as well
as management's objectives, strategies, beliefs and intentions.
Forward-looking statements are frequently identified by such words as "may",
"will", "plan", "expect", "anticipate", "estimate", "intend" and similar words
referring to future events and results. Forward-looking statements are based
on the current opinions and expectations of management. All forward-looking
information is inherently uncertain and subject to a variety of assumptions,
risks and uncertainties, including the speculative nature of mineral
exploration and development, including the uncertainty of resource and reserve
estimates, operational and technical difficulties, fluctuating commodity
prices, competitive risks, the availability of financing and compliance with
applicable laws, including obtaining requisite permits, as described in more
detail in our recent securities filings available at www.sedar.com. Actual
events or results may differ materially from those projected in the forward
looking-statements and we caution against placing undue reliance thereon. We
assume no obligation to revise or update these forward-looking statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: Perry Muller, President and a Director of
Win-Eldrich, at (402) 753-9134