China Gold International Announces Commercial Production on Series I of Jiama Expansion
VANCOUVER, British Columbia, Jan. 11, 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 reached commercial production at Jiama Mine’s Phase II, Series I expansion (“Series I”) effective December 31, 2017. As a result, the ore processing capacity at the Jiama Mine has been increased to 28,000 tonnes per day (“tpd”) from the previous capacity of 6,000 tpd.
Construction of the Jiama Mine’s Phase II, Series II (“Series II“) is now complete and development and production testing is currently underway. The Company expects Series II, which will add an additional 22,000 tpd, to achieve commercial production in mid- 2019.
“Achieving commercial production at Series I is a major milestone for China Gold and the Jiama team,” stated Mr. Bing Liu, CEO and Executive Director. "With the hard work, dedication and commitment of our local team and the strong support and leadership of management, we are now focused on Series II and continuing to ramp up the operation."
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).
For further information on China Gold International Resources Corp. Ltd., please refer to its SEDAR profile at www.sedar.com or contact Tel: 604-609-0598, Email: info@chinagoldintl.com, Website: www.chinagoldintl.com.
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.