Anaconda's Pine Cove Gold Mine completes mill modification program
TORONTO, Oct. 20, 2011 /CNW/ - Anaconda Mining Inc. ('Anaconda' or 'the Company') -
is pleased to announce it has successfully completed an extensive array of circuit upgrades and regularly scheduled maintenance with minimal downtime at its Pine Cove mill. As previously reported, Anaconda planned to make modifications to various areas of the mill, precipitated by the replacement of its two rotary drum filters. As a result, during the latter part of September and early October, the Pine Cove team installed new drum filters, relined the primary ball mill, converted a pregnant solution tank to be a fourth leach tank, added a new pregnant solution tank, modified all leach tanks and performed other routine maintenance items.President and CEO, Dustin Angelo, stated, 'The many circuit improvements undertaken recently are expected to complement the mill upgrades made last summer and help us consistently operate at target levels. Although Pine Cove just started full production, the mill has already exhibited positive signs that the recent modifications will prove to have a long-term benefit. Most importantly, the Company recognizes and appreciates the cooperation and effort by both its employees and the various contracted forces while these modifications were performed. All work was performed without a single safety incident adding to the Company's continued safety achievements.'
The scheduled upgrades and maintenance work included various items in both the front end (grinding/flotation) and back end (leaching/filtration) of the mill. As such, the modification program was divided into stages to minimize shutting down the entire mill and enable certain portions of the circuit to operate while work was done in other areas.
On September 19, 2011, grinding and flotation were suspended to allow ball mill relining and flotation circuit maintenance. The profile of the replacement lifters is expected to sustain target production rates during times when crushed feed is coarser and/or harder. In addition, other routine maintenance items were addressed such as repairs to the feed chute, wear and tear inspections, preventative maintenance associated with electrical equipment and installation of a new impeller and stator in the SFR flotation cell. This stage of the plant upgrades was completed on September 24(th) allowing the resumption of grinding and flotation to fill the leach tanks.
During the same period, the leach and filtration circuits continued to process circuit inventory from the leach tanks. As each leach tank was drained, it was converted to an 'up-comer' configuration with larger baffles to assist in maximizing leach recovery. The previous configuration was susceptible to losses during times of high flotation production and required much greater operator attention. In addition, a new collection sump for leach product was fabricated and installed to allow leached product to be pumped to the new drum filters which are three meters higher than the original units. Also, the sump offers more operating flexibility in case there is a change in retention time or maintenance is required.
Beginning on September 25(th), the filtration circuit was decommissioned to allow for the installation of new drum filters. The new Rotary Vacuum Drum Filters (RVDF) installation was completed on October 3(rd), followed by cloth installation, re-pulper and new pump discharge installation. The units were fully commissioned and fully operational on October 7th. The actual installation was completed on schedule, although some modifications to the platforms were necessary for safety and operational improvements.
The new drum filters have considerable flexibility to allow the two units to be operated in series, parallel or taken off-line individually for maintenance, thus minimizing down time. The new feed pump system is expected to provide operators more precise control in feed rate to allow maximum throughput during fluctuations in concentrate production.
Additional plant upgrades during the period included a new pregnant solution tank with a 40,000-litre capacity. With a new tank, the original pregnant solution tank was reconfigured to a leach tank, providing an additional 40 hours of retention time and greater capacity to the leach circuit.
Since the RVDF filters became fully operational, the Pine Cove team has been working on optimizing the modifications made in the circuit, balancing the flow of material and regaining a steady state. The Company expects to return to normal operating parameters throughout the entire circuit by the end of October, at which time, it can measure the impact of the modifications on the mill's results.
ABOUT ANACONDA
Headquartered in Toronto, Canada, Anaconda is a mining and exploration company focused on operating the Pine Cove gold mine located on the Baie Verte Peninsula in Newfoundland, Canada and advancing the exploration and development of its iron ore portfolio in Chile with its joint venture partner, Inversiones SBX Limitada.
FORWARD LOOKING STATEMENTS
This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, statements regarding targets, estimates and/or assumptions in respect of future production, mine development costs, unit costs, capital costs, timing of commencement of operations and future economic, market and other conditions, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to: the final approval of the private placement by the Toronto Stock Exchange; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of the any project caused by unavailability of equipment, labour or supplies, climatic conditions or otherwise; termination or revision of any debt financing; failure to raise additional funds required to finance the completion of a project; and other factors. Additionally, forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as 'plans,' 'may,' 'estimates,' 'expects,' 'indicates,' 'targeting,' 'potential' and similar expressions. These forward-looking statements, including statements regarding Anaconda's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no responsibility to update them or revise them to reflect new events or circumstances, except as required by law.
Anaconda Mining Inc.
CONTACT:
Anaconda Mining Inc. Terre Partners
Dustin Angelo or Joanna Longo
President and CEO Investor Relations
(647) 260-1248 (416) 775-8771
Email: dangelo@anacondamining.com Email: jlongo@terrepartners.com
Company website: www.anacondamining.com
