China Gold International Announces Commercial Production on Series II of Jiama Phase II Expansion
VANCOUVER, British Columbia, July 03, 2018 (GLOBE NEWSWIRE) -- China Gold International Resources Corp. Ltd. (TSX:CGG) (HKEx:2099) (the “Company” or “China Gold International Resources”) is pleased to announce that the Company has achieved commercial production at Jiama Mine’s Phase II, Series II expansion (“Series II”) effective July 1, 2018, bringing the entire Phase II expansion project into commercial production. The Company was able to accelerate its development and commissioning to achieve commercial production for Series II ahead of schedule. The Company continues to ramp up operations at Series II to full design capacity of 22,000 tonnes per day (“tpd”).
Jiama Mine’s Phase II consists of two series, Series I and Series II, each having a mineral processing capacity of 22,000 tpd. The full design capacity of ore processing at Jiama Mine will increase to 50,000 tpd from the previous capacity of 28,000 tpd once Series II reaches full design capacity.
“Achieving commercial production at Series II ahead of schedule is a significant milestone for the Company and speaks to the hard work and dedication of the Jiama Mine team. We are focused on ramping up operations of Series II in the coming months to full design capacity,” said Mr. Bing Liu, CEO and Executive Director.
About China Gold International Resources
China Gold International Resources Corp. Ltd. is based in Vancouver, BC, Canada and operates both profitable and growing mines, the CSH Gold Mine in Inner Mongolia, and the Jiama Copper-Gold Polymetallic Mine in Tibet Autonomous Region of the People’s Republic of China. The Company’s objective is to continue to build shareholder value by growing production at its current mining operations, expanding its resource base, and aggressively acquiring and developing new projects internationally. The Company is listed on the Toronto Stock Exchange (TSX: CGG) and the Main Board of The Stock Exchange of Hong Kong Limited (HKEx: 2099).
Cautionary Note About Forward-Looking Statements
Certain information regarding China Gold International Resources contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although China Gold International Resources believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. China Gold International Resources cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what China Gold International Resources currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.