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| September 05, 2013 --- Vol. 07, No. 36 | September 2013
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Alaska News Nuggets
PLACER GOLD – Goldrich Mining Company Sept. 4 reported Goldrich NyacAU Placer LLC, a 50-50 joint-venture between Goldrich and NyacAU LLC, has received the necessary permit and government approvals to expand its mining operations at Chandalar, Alaska where production began this summer. The new permit allows Goldrich NyacAU Placer sufficient space to install multiple plants. A modified mining plan and construction of components for a multi-plant facility are already underway. Fabrication of a feeder capable of sending placer material to three recovery plants is largely completed. It will be shipped to Alaska this winter and will be commissioned for use with the existing plant in 2014. A second and third plant are planned to be added after 2014. “This is a major milestone, and we are extremely pleased to have the permit in hand,” said Goldrich President and CEO William Schara. “The permit further enhances the Chandalar project and will allow us to substantially increase gold output.” In anticipation of receiving the permit, Goldrich NyacAU Placer modified its 2013 mine plan to allow for a multi-plant facility. While modification of the mining plan will result in fewer days of production and decrease 2013 gold output, overall future production will be able to be materially increased. The initial modifications under the new mining plan have already been completed and production using the existing plant began in the latter part of August. While the placer gold deposit at Chandalar is not a mineral reserve as defined in SEC guideline, approximately 15,000 feet of drilling completed by Goldrich has outlined 10.5 million cubic yards, at an average head grade of 0.025 ounces of gold per cubic yard, for an estimated total of 250,000 contained ounces of alluvial gold. Mining operations at Chandalar utilize conventional gravity technologies for gold recovery. All plants will employ a recirculating closed-loop water system to minimize water usage and protect the environment. The new mining permit provides an increased area for stockpiling topsoil, a larger settling pond system with greater capacity to ensure water quality and availability, and room to allow concurrent mine reclamation as the project advances. In addition the permit also allows for construction of a new airstrip. The total area authorized by the new permit, including area for the new airstrip, is approximately 350 acres.
DIRECTOR – Northern Dynasty Minerals Ltd. Sept. 4 said Ken Pickering has been appointed to the company’s board of directors. Pickering is a professional engineer and mining executive with 40 years of experience in a variety of capacities in the natural resources industry. He has led the development, construction and operation of world-class mining projects in Canada, Chile, Australia, Peru and the United States, focusing on operations, executive responsibilities and country accountabilities. His experience includes: supervising the engineering and subsequent operation of Utah Mines Ltd.’s Island Copper mine in Port Hardy, British Columbia; overseeing the construction, development and subsequent operation of the Escondida mine in Chile, the world’s largest single copper mine at the time; managing BHP’s Iron Ore mining and processing operations in Australia; and serving as president at Minera Escondida, responsible for all aspects of operations and marketing, as well as major projects, business development and corporate affairs in Chile for BHP Billiton Base Metals. This role also involved handling extensive federal, regional, and local government relations, as well as engagement with local communities and international banking institutions. Most recently, Pickering was vice president – major projects, closed mines and North American assets for BHP Billiton Base Metals in Santiago, Chile. His position involved overseeing the planning and execution of six mining and infrastructure projects in Chile valued at US$3 billion, and serving as a director of The Resolution Copper joint venture with Rio Tinto in Arizona, while being responsible for the BHP Billiton Pinto Valley copper operations in Arizona. Pickering is a member of the Association of Professional Engineers and Geoscientists of British Columbia, currently working as a private consultant in mining operations and project development and as a non-executive director in the international natural resources industry. “Ken’s background and expertise will make a valuable contribution to the future success of Northern Dynasty and the Pebble Project,” said Northern Dynasty President and CEO Ronald Thiessen.
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