Iberian Minerals Publishes Preliminary Q2 2011 Production Results
14 7월 2011 - 5:30AM
Marketwired
Iberian Minerals Corp. (TSX VENTURE: IZN) today announced
preliminary production results for the three and six months ended
June 30, 2011.
Mr. Daniel Vanin, President and CEO, stated "Overall both mining
operations are performing in line with 2011 targets. At Aguas
Tenidas the focus is now on optimizing the metal production, which
has been steadily improving this year. Condestable continues to
produce consistent results."
Peruvian Operations - Condestable Mine:
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Production Unit Q2 2011 YTD
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Ore processed T 593,300 1,172,000
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Copper grade % 1.11 1.11
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Concentrate DMT 24,500 47,900
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Contained copper FMT 5,930 11,700
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Fine gold Oz 3,600 7,000
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Fine silver Oz 83,400 161,300
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Spanish Operations - Aguas Tenidas Mine:
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Production Unit Q2 2011 YTD
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Copper ores
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Ore processed T 287,400 593,100
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Copper grade % 2.23 2.21
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Concentrate DMT 24,850 50,600
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Contained copper FMT 5,440 11,200
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Recovery rate % 85 86
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Fine silver Oz 76,500 155,200
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Polymetallic ores
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Ore processed T 179,100 387,400
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Zinc grade % 5.86 5.91
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Zinc concentrate DMT 15,240 32,630
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Contained zinc FMT 7,310 15,800
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Recovery rate % 70 69
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Copper grade % 1.09 1.05
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Copper concentrate DMT 3,440 5,100
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Contained copper FMT 780 1,130
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Copper recovery rate % 40 28
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Lead grade % 1.73 1.79
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Lead concentrate DMT 5,970 16,240
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Contained lead FMT 1,060 3,000
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Lead recovery rate % 34 43
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Fine silver Oz 137,400 331,300
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Q2 comments for Aguas Tenidas operation:
-- Contained copper metal production was in line with budget.
-- The copper ore circuit copper recovery was 85% versus budget of 83%.
-- The zinc recovery rate for the polymetallic circuit was 70% versus
budget of 66%.
-- Ores processed (combined copper and polymetallic) were 85% of budget
(5,125 tpd).
-- Ore throughput in Q2 was impacted by planned maintenance on the ball
mill. Despite lower ore throughput the metallurgical performance of the
poly-metallic circuit was improved as a better grinding of the ore was
achieved. This resulted in metal production within budgeted parameters.
About Iberian Minerals Corp.
Iberian Minerals Corp. is a Canadian listed global base metals
company with interests in Spain and Peru. The Condestable Mine,
located in Peru approximately 90 km south of Lima operates at 2.2
million tonnes per year producing copper, and associated silver and
gold in a concentrate. The Aguas Tenidas Mine is in the Andalucia
region of Spain approximately 110 km north-west of Seville and
operates a 2.2 million tonnes per year underground mine and
concentrator that produces copper, zinc and lead concentrates that
also contain gold and silver.
FORWARD LOOKING STATEMENTS:
This news release contains certain "forward-looking statements"
and "forward-looking information" under applicable securities laws.
Except for statements of historical fact, certain information
contained herein constitutes forward-looking statements.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", and other similar words, or statements
that certain events or conditions "may" or "will" occur. Forward
looking information may include, but is not limited to, statements
with respect to the future financial or operating performances of
the Corporation, its subsidiaries and their respective projects,
the timing and amount of estimated future production, estimated
costs of future production, capital, operating and exploration
expenditures, the future price of copper, gold and zinc, the
estimation of mineral reserves and resources, the realization of
mineral reserve estimates, the costs and timing of future
exploration, requirements for additional capital, government
regulation of exploration, development and mining operations,
environmental risks, reclamation and rehabilitation expenses, title
disputes or claims, and limitations of insurance coverage.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are based on
a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. Many of these assumptions are based on
factors and events that are not within the control of the
Corporation and there is no assurance they will prove to be
correct. Factors that could cause actual results to vary materially
from results anticipated by such forward-looking statements include
changes in market conditions and other risk factors discussed or
referred to in the section entitled "Risk Factors" in the
Corporation's annual information form dated March 29, 2010.
Although the Corporation has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be anticipated, estimated or intended. There can
be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The
Corporation undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change except as required by applicable securities laws. The
reader is cautioned not to place undue reliance on forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Iberian Minerals Corp. Laura Sandilands Investor
Relations and Corporate Communications 416-815-8558
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