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2007
2006
2005 |
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| | January 09, 2007
Rochester Commences Milling Operations at its Mina Real Mine
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| | Vancouver, Canada - Rochester Resources Ltd. (TSXV: RCT; OTCBB: RCTFF and Frankfurt: R5I):
The Board of Directors is pleased to announce that it commenced milling operations at its high-grade gold/silver mine in Nayarit, Mexico, last week. The crushing and grinding section of the mill is now operating at its initial design capacity and feeding the cyanide plant at the rate of 200 tonnes/day. The mill is expected to remain at this level until mid-2007, when an increase in capacity to 300 tonnes/day is contemplated. The modular design of the mill should allow for the planned increase in capacity to be implemented at a cost of under US$300,000.
Based on independent metallurgical tests results, mill recovery rates for gold are anticipated to average approximately 95%. Silver recovery is expected to reach 90% once a small additional sulphidation circuit is added to deal with the occurrence of elevated levels of manganese. Milling costs are not expected to exceed US$25.00 per tonne of processed material. Delivery of the first production of gold and silver precipitate to the refinery for smeltering is expected to take place during the last week of January.
Independent assays results on an additional 272 metres of development mining at Mina Real have produced results that are consistent with the higher gold and silver grades reported over 503 meters in our October 30, 2006 news release. Assay results from 116 channel samples taken in Levels 240, 215 and 115 averaged 11.17 grams/tonne of gold and 156 grams/tonne of silver and a width of 1.06 metres. Mining costs per tonne of mill feed will vary depending on the percentage of development mining that is represented by drift development versus stoping. The Company currently utilizes the services of two contract mining companies and expects to add one additional mining contractor in the near future. Based on an anticipated drift development/stoping ratio of 60:40 and current contracts in place, it is anticipated that mining and trucking costs will be under US$50 per tonne. Dr. Alfredo Parra, the Company's in-house Qualified Person and QP Member of the Mining and Metallurgical Society of America with special expertise in Mining, has reviewed the technical and operational information contained herein. Channel samples reported were assayed by a certified and independent laboratory, SGS of Lakefield, Ontario.
The Board is also pleased to announce the appointment of Dr. Alfredo Parra, the founder of the Mina Real project, as President and CEO of Rochester Resources Ltd. effective immediately. He replaces Douglas Good who moves to Chairman of the Board. In addition to retaining his position as Chief Financial Officer, Mr. Good will continue to be responsible for corporate development and public market related activities. Dr. Parra has an extensive background in mining exploration and operations, including senior management level positions with major Mexican based corporations such as CIA Minera Penoles and Kennecott. As part of this corporate restructuring, 1,325,000 stock options have been issued for a term of three years to directors and officers at a price of $1.85 per share.
The longer term strategy of Rochester is to continue to acquire gold/silver properties located in Mexico with the indicated potential for near-term production in the range of 200-500 tonnes/day and good exploration potential for the generation of a significant resource base. Management believes that its Mina Real property has the potential to produce a long-term revenue stream which would set the stage for the acquisition and development of a series of similar size mining and milling operations in the region.
ON BEHALF OF THE BOARD
"Douglas F. Good"
Douglas F. Good, Chairman
Investor information contact:
Empire Communications Inc.
Tel: 1-866-841-0068
Email: [email protected]
Website: www.rochesterresourcesltd.com
Forward Looking Statements
This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. In addition, the Company has not conducted an independent feasibility study on the Mina Real project which may increase the risk that the planned operations are not economically viable. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. |
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| | You can view the Next News Releases item: Wed Jan 17, 2007, Rochester Announces $1.85 Million Financing
You can view the Previous News Releases item: Tue Dec 12, 2006, Rochester Closes Acquisition of Remaining 49% Interest in Mina Real Project
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