Atna Reaches Commercial Production Levels at the Briggs Mine
26 2월 2010 - 11:00PM
PR Newswire (US)
GOLDEN, Colo., Feb. 26 /PRNewswire-FirstCall/ -- Atna Resources
Ltd. ("Atna") - (TSX: ATN; Pink Sheets: ATNAF) is pleased to report
that it has reached commercial production levels at its Briggs Mine
in Inyo County, California. The Briggs Mine has now averaged over
80 ounces per day of gold production for a period of greater than
30 days. In addition, gold ounces mined and placed on the leach pad
in 2010 are exceeding budgeted expectations. Production is expected
to further increase as mine productivity continues to improve and
as projected mined ore grades increase through the year. The mine
is currently on track to produce positive operating cash flow and
to achieve its 2010 production target of 36,000 to 40,000 ounces of
gold. "We are pleased with the current gold production levels and
operations at Briggs. The mine is on track to achieve budgeted gold
production rates, and at these production levels Briggs will
produce a positive operating cash flow at current gold prices,"
states James Hesketh, President & CEO. Unit cash cost for gold
production in 2010 is estimated to be $600 to $625 per ounce. Life
of mine gold production, including 2010, based on the current
mineral reserve, is expected to have a cash cost of production in
the range of $500 to $525 per ounce. Projected cash costs have
increased from prior expectations due to an increase in fuel cost,
the primary consumable at Briggs, and an increase in life-of-mine
strip ratio. The slope angle on the eastern sector of the Briggs
Main Pit was reduced to create a greater safety factor resulting in
an increased strip ratio for that pit. Productivity improvement and
cost containment will be a primary focus of operations in 2010.
Restart activities at Briggs commenced in fourth quarter 2008 and
the first gold pour was completed in May 2009. Overall spending was
generally on target with original budget. In-process gold inventory
at year end 2009 was approximately 8,300 ounces with an inventory
value of $6.9 million. Production details for Briggs in 2009 are
shown in the following table: First Second Third Fourth Total
Production Statistic Quarter Quarter Quarter Quarter 2009
-------------------- ------- ------- ------- ------- ---- Waste
tons 280,555 1,008,220 1,171,873 792,701 3,253,349 Ore tons 232,534
180,061 330,019 591,580 1,334,194 ------- ------- ------- -------
--------- Total tons 513,089 1,188,281 1,501,892 1,384,281
4,587,543 ------- --------- --------- --------- --------- Ore grade
(oz/ton) 0.039 0.015 0.015 0.013 0.018 Gold ounces mined 9,141
2,635 5,077 7,419 24,272 Gold ounces produced in dore - 1,972 4,603
4,623 11,198 Gold ounces sold - 1,955 3,895 5,038 10,888 Cash cost
of gold production ($/oz) N/A N/A $893 $923 $908 Note: Cash cost of
gold production is a non-GAAP measure and is calculated utilizing
Gold Institute standards. Production accounting commenced at Briggs
at the end of the Second Quarter. The unit cash cost of gold
production was higher than anticipated for 2009, primarily due to
normal mine start up conditions: -- Small working areas; -- Limited
availability of trained operators and mining professionals; --
Mining equipment availability; -- Leach pad dynamics. Approximately
$15.7 million in capital has been spent on the Briggs project
through December 31, 2009. Capital spending for 2010 at Briggs is
projected to be about $5.1 million. This amount includes
approximately $2.0 million in capital lease payments for major
mining equipment and $1.9 million in spending towards completion of
a $3.2 million leach pad expansion. The pad expansion will add an
additional seven million tons of leach pad capacity, which will be
sufficient for all ores included in the current minable reserves.
For additional information on Atna Resources and the Briggs Mine,
please visit our website at http://www.atna.com/. This press
release contains certain "forward-looking statements," as defined
in the United States Private Securities Litigation Reform Act of
1995, and within the meaning of Canadian securities legislation
relating to gold production at the Biggs Mine. Forward-looking
statements are statements that are not historical fact. They are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made and they involve a
number of risks and uncertainties. Consequently, there can be no
assurances that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. The Company undertakes no
obligation to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors,
should change. Factors that could cause future results to differ
materially from those anticipated in these forward-looking
statements include: the Company might encounter problems such as
the significant depreciation of metals prices, accidents and other
risks associated with mining exploration, development and
production operations, the risk that the Company will encounter
unanticipated geological factors, the Company's need for and
ability to obtain additional financing, the possibility that the
Company may not be able to secure permitting and other governmental
clearances necessary to carry out the Company's mine development
plans and the other risk factors discussed in greater detail in the
Company's various filings on SEDAR (http://www.sedar.com/) with
Canadian securities regulators and its filings with the U.S.
Securities and Exchange Commission, including the Company's Form
20-F dated March 31, 2009. FOR FURTHER INFORMATION, CONTACT: James
Hesketh, President and CEO - (303) 278-8464 Valerie Kimball,
Investor Relations - toll free (877) 692-8182 http://www.atna.com/
DATASOURCE: Atna Resources Ltd. CONTACT: James Hesketh, President
and CEO, +1-303-278-8464, or InvestorRelations, Valerie Kimball,
1-877-692-8182 Web Site: http://www.atna.com/
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