Vancouver, British Columbia / TheNewswire / February 16, 2017 - Telson Resources Inc. ("Telson" or the "Company") (TSX Venture - TSN.V) is pleased to announce that it has completed an agreement for the acquisition of a sulfide flotation mineral processing facility, (the "Tahuehueto Mineral Processing Plant")
The Tahuehueto Mineral Processing Plant consists of most of the milling equipment required, once installed and operational, to process Tahuehueto ore at an estimated capacity of at least 550 tonnes per day at the Tahuehueto project. A complete list of the milling and processing equipment purchased can be viewed on the Company's website <here>.
The Tahuehueto Mineral Processing Plant is currently strategically located in storage near Gomez Palacio, Durango State, Mexico, approximately 225 km from Tepehuanes, with approximately another 120 km by road from Tepehuanes to the Tahuehueto project site.
Pursuant to the terms of the sale and purchase agreement (the "Purchase Agreement") Telson has acquired all of the Vendor's interest in the Tahuehueto Mineral Processing Plant in consideration of CDN $1,300,000 with 50% payable immediately and the balance payable upon removing the equipment from it current storage location.
Refurbished Flotation Cell
Telson plans to immediately start the process to relocate the equipment to a staging area closer to the Tahuehueto Project site in Tepehuanes where all equipment will be fully inspected and refurbished where necessary over the next several months. During this time site preparation and engineering work at Tahuehueto will continue in order to prepare the site to receive the Tahuehueto Mineral Processing Plant for installation.
All equipment purchased and comprising the Tahuehueto Mineral Processing Plant has been inspected by an independent mining contractor firm based out of Durango, Mexico. Equipment purchased is estimated to make up approximately 80% of the total milling equipment required to construct a fully functioning mill facility at Tahuehueto. Any equipment lacking is currently being sourced by Telson and will be added to the Tahuehueto Mineral Processing Plant as located and acquired.
"The purchase of this fully refurbished milling facility is a significant step towards reaching management's plans and goals of building and operating an underground mining operation at Tahuehueto in the very near future." states Antonio Berlanga, CEO and Director of Telson Resources Inc. , "Having the equipment sourced from Durango, Mexico, within the same state as our Tahuehueto Project, has saved considerable time in our development plan schedule and purchasing quality refurbished used equipment will also reduce our capital cost requirements from purchasing new equipment as estimated within our recently published Prefeasibility Study Report filed in accordance with NI 43-101 Standards of Disclosure for Mineral Projects (see news release dated January 23, 2017)."
Qualified Person
This press release was prepared under the supervision and review of Ralph Shearing, P.Geol., President and Director of Telson Resources Inc., a Professional Geologist registered in Alberta as a member of the professional organization APEGA, and a Qualified Person as defined by NI 43-101
