Mr. Francois Marland reports
VERIS GOLD CORP. REPORTS ON PRODUCTION AND TOLL MILLING FOR NOVEMBER
Veris Gold Corp. has provided shareholders with a November toll milling and
production update for the company's three wholly owned Jerritt Canyon
gold mines and processing plant in Elko county, Nevada. Jerritt Canyon
is operated by Veris Gold USA Inc., a wholly owned
subsidiary of the company.
Overall operational report
During the month of November the plant processed 110,378 tons, averaging
over 3,600 tons through the roasters per operating day resulting in the
production of over 8,300 ounces of gold from Jerritt Canyon ore and
over 3,400 ounces of gold from third party ore. The operations achieved
an average recovery of 86 per cent from Jerritt Canyon ore for the month,
continuing to demonstrate significant improvements over recoveries
achieved earlier in the year.
Francois Marland, president and chief executive officer of Veris, commented: "I'm very pleased with our results this month, considering that we
toll-milled third party ore for approximately 43 per cent of the month of
November. This clearly demonstrates the continued optimization of the
company's assets and we look forward to updating our shareholders on
further progress in the near future."
Graham Dickson, chief operating officer, stated: "November proved to be another productive and successful month for the
company. All of the department spending at the Jerritt Canyon
operations is currently being reviewed in order to sustain lower cash
costs."
Mine production
In November the SSX-Steer mine produced over 23,000 tons containing an
estimated 4,400 ounces of gold, averaging just over 760 tons per day.
This is an increase of approximately 15 per cent in tons produced compared with the 20,000 tons of production reported last month. Management is
committed to making the necessary adjustments to ensure that the mine
returns to estimated targeted production of 1,000 tons per day at
SSX-Steer. To assist with the mine's production, the company recently
hired a chief mining engineer to enhance the team's skill set and
purchased a second underground reverse circulation drill to assist with
mine development.
The Smith mine produced over 51,000 tons containing an estimated 7,500
ounces of gold averaging over 1,700 tons per day for the month of
November (0.17 ounce per ton average for high-grade ore). Included in
this production are 14,900 tons of lower-grade material averaging 0.09
ounce per ton that the company will stockpile at the roaster facility.
At Starvation Canyon, an estimated 31,000 tons were mined in November
containing an estimated 7,600 ounces of gold (0.244 ounce per ton) for
an estimated average of over 1,000 tons per day. Starvation Canyon
continues to achieve above-targeted tonnage rates and deliver beyond
the company's expectations.
Processing plant
The Jerritt Canyon mill processed a total of over 59,500 tons of Jerritt
Canyon ore in November, averaging over 3,800 tons per operating day and
operated at over 5,000 tons per day for several days. Recovery rates
averaged 86 per cent during the month with an average processed grade of 0.16
ounce per ton.
Toll milling
The company toll-milled ore for Newmont USA Ltd. over a 14-day period
during the latter part of November and on the first day of December. A
total of 50,800 tons of Newmont ore were processed at the Jerritt
Canyon mill during this time, thus achieving an overall average of over
3,600 tons per day. The company continues to target additional toll
milling agreements for 2014.
December operational update
Operations at the company's Jerritt Canyon mill have been temporarily
interrupted due to an electrical fire that took place in the primary
crushing building on Dec. 19, 2013.
The primary crushing circuit is currently being repaired and operations
are expected to be back on-line in early January. The company informed
a number of Jerritt Canyon employees who are not critical to the
operations of a temporary work schedule reduction on Dec. 24, 2013; employees are expected to recommence regular working shifts
on Jan. 2, 2014.
Due to the temporary interruption of operations, the company has revised
its year-end production guidance to 138,000 ounces from 145,000 ounces
of gold.
Quality control
Assaying of all mine production samples were conducted by the Jerritt
Canyon lab using standard fire assay techniques. The company's 2013
quality assurance and quality control protocols are documented in the
most recent National Instrument 43-101 technical report available on SEDAR or at the
company's website.
The information in this news release was compiled and reviewed by
William Hofer, BSc, general manager, Jerritt Canyon mine. The
information contained in this news release has been reviewed and
approved by the company's vice-president of exploration, Todd Johnson,
MSc (qualified person per the requirements of National Instrument 43-101).
We seek Safe Harbor.
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