VANCOUVER, BC / ACCESSWIRE / September 24, 2019 / Golden Dawn Minerals Inc., (TSXV:GOM) (FRANKFURT:3G8C) (OTCPINK:GDMRD), ("Golden Dawn" or the "Company"), announces that it is initiating discussions with Ximen Mining Corp. towards toll milling material from the Kenville gold mine in Nelson, B.C.
The Kenville project is being developed by Ximen Mining Corp. as an underground gold mine operation and is anticipated to produce a bulk sample in 2020. This material could be transported to Greenwood (approximately 150 km) for processing in Golden Dawn's gravity-floatation process plant (see picture below).
Photo of Golden Dawn's 200 Tonne/Day Gravity-Flotation Process Plant and Tailings Facility at Greenwood.
The concept is to process material from the Ximen's Kenville mine at the Greenwood mill without having to make any major modifications to the existing treatment facility. Currently the Greenwood plant is configured to process free-milling gold and gold-copper sulphide mineralization from the Lexington mine. The Lexington project is on hold pending financing. The Kenville operation is nearing start-up and its anticipated run of mine product would consist of free-milling gold that could be recovered by the existing Knelson centrifugal concentrator, and gold-sulphide (mainly pyrite) mineralization that is amenable to bulk floatation concentration using the existing treatment circuit at the Greenwood mill.
Its still early stages for this project though. Golden Dawn has just initiated discussions with Ximen around the concept of toll milling. Metallurgical testing would need to be done on the material from Kenville to assess the gold recovery, and to demonstrate there are no deleterious elements that could adversely affect Golden Dawn's facility. To go ahead, refurbishment of the mill facility needs to be completed before it can be operated, and Golden Dawn's operating permit needs to be amended to allow custom milling. Conceivably this could all be achieved in the coming year.
On behalf of the Board of GOLDEN DAWN MINERALS INC.
Per: "Dr. Mathew Ball"
For further information, please contact:
Golden Dawn Minerals Inc. - Corporate Communications:
Forward-Looking Statement Cautions:
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.