Central Sun Announces Full Environmental Approval for Orosi Mine Project
March 28 2008 - 2:43PM
Marketwired
TORONTO, ONTARIO issued Central Sun Mining Inc. (TSX: CSM)(TSX:
CSM.WT)(AMEX: SMC) full environmental permitting for the
construction, operation and maintenance of the Orosi Mine Project
which includes process plant upgrade and tailing management
facility. The Orosi Mine is located 110 kilometres east of Managua,
the capital city of Nicaragua.
"We are very pleased with the issuance of the full environmental
permitting for the Orosi Mine Expansion Project, including the
tailing dam facilities," said Central Sun's President & CEO,
Peter Tagliamonte. "The project team has done an exceptional job of
working closely and co-operatively with the Nicaraguan Governmental
agencies. With the permitting in place, Central Sun will continue
on the fast track schedule with gold production expected to start
in the first quarter 2009."
Orosi Mine Project
Central Sun is currently converting the Orosi Mine from a heap
leach operation to a conventional milling operation. Recoveries are
anticipated to increase from 38% previously being achieved from
heap leaching to over 90% with conventional milling based on
extensive metallurgical testing. Production is expected to start in
the first quarter of 2009 at a rate of approximately 85,000 ounces
of gold per year. A positive scoping study was completed in March
2007 and the full feasibility study is expected to be completed in
April 2008.
The Orosi Mine Project is on track, with all of the equipment
from the dismantled Getchell mill in Nevada having been
successfully shipped to Nicaragua and transported to the Orosi Mine
site. Orosi will position Central Sun as an emerging gold producer,
with expected annual production at a rate of 125,000 ounces per
year starting in 2009.
The mineral reserve and updated resource estimates for the Orosi
Mine are being prepared in conjunction with the feasibility study
commissioned by Scott Wilson Roscoe Postle Associates Inc. The new
mineral reserve and resource estimates for Central Sun will be
issued once the feasibility study has been completed.
Qualified Person
Graham Speirs, P. Eng., COO for Central Sun Mining, is the
Qualified Person responsible for the disclosure as defined by
National Instrument 43-101. The internal quality control
information were reviewed and verified by Mr. Speirs. Mr. Speirs
has read and approved this news release.
About Central Sun Mining
The Company is a growing gold producer with mining and
exploration activities focused in Nicaragua. The Company operates
the Limon Mine in Nicaragua and is converting the Orosi Mine in
Nicaragua to conventional milling to increase the annual gold
output. It also holds an option to acquire a 100% interest in the
Mestiza gold property which is located 70 kilometres east of the
Limon Mine. The Company is focused on efficient and productive
mining practices to establish high quality and cost effective
operations. Central Sun Mining is committed to growth by optimizing
current operations, expanding mineral reserves and resources at
existing mines as well as exploring its extensive land
holdings.
Cautionary Note Regarding Forward-Looking Statements: This news
release contains certain "forward-looking statements", within the
meaning of the United States Private Securities Litigation Reform
Act of 1995, and "forward-looking information" under similar
Canadian legislation, concerning the business, operations and
financial performance and condition of the Company. Forward-looking
statements and risk factors include, but are not limited to,
statements with respect to the implementation of the Company's
strategic plan; the future financial or operating performance of
the Company, its subsidiaries and its projects; the future price of
gold; expectation that the Orosi Mill feasibility study will be
positive; capital requirements for completion of the Orosi Mill
project; successful implementation of the Orosi Mill project; the
estimated Orosi Mill recovery rates; the estimation of mineral
reserves and resources, the realization of mineral reserve
estimates; the timing and amount of estimated future production;
costs of production; operating and exploration expenditures; mining
or processing issues; costs and timing of the development of new
deposits; costs, timing and success of future exploration;
government regulation of mining operations; permitting time lines
and permitting; labour disruptions; environmental risks;
unanticipated reclamation expenses; title disputes or claims;
limitations on insurance coverage and regulatory matters.
Generally, forward-looking statements can be identified by the use
of forward-looking terminology such as "plans", "expects",
"budget", "scheduled", "estimates", "forecasts", or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "would", "might" be taken, occur or be
achieved. Forward-looking statements are based on the opinions and
estimates of the Company as of the date such statements are made,
and they are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
statements. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company does not
undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with
applicable securities laws.
Contacts: Central Sun Mining Inc. Andre Bharti Investor
Releations (416) 860-0919 (416) 367-0182 (FAX) Email:
ir@centralsun.ca
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