New Gold Inc.: Significant Block Caving Expertise Added
28 November 2007 - 4:09PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (AMEX: NGD) is pleased to announce
the appointment of Ron Allum to the position of General Manager for
the New Afton Gold-Copper (Au-Cu) Project located near Kamloops,
British Columbia, Canada.
The New Afton Project is being developed to achieve a maximum
production rate of 4 million tonnes per year (11,000 tonnes per
day). At this rate, the project will be one of Canada's largest
underground metals mines, producing both Au and Cu. Mill
commissioning is forecast for the second half of 2009.
Ron has a B.Sc. in Mining Engineering and more than 30 years
underground operational experience, including 28 years in block
cave mining operations at the San Manuel Cu Mine in Arizona, and
the Questa Molybdenum Mine in New Mexico. The San Manuel mine was a
block cave operation which operated at a rate of 16.5 million
tonnes per year (45,000 tonnes per day) producing in excess of 250
million pounds of Cu annually. Ron worked at the mine for 25 years
in progressively more senior positions including General Mine
Foreman, Construction Manager, Mine Manager and ultimately Vice
President Operations, initially for Magma Copper Co. and
subsequently for BHP Copper Inc. At the mine Ron was ultimately
responsible for more than 2000 employees. During his time at the
San Manuel Mine he established a track record of, exceeding
production targets, lowering operating costs and completing
development projects on budget and on schedule.
Included in Ron's career at the San Manuel Mine was his direct
involvement in the Lower Kalamazoo expansion project, which he
oversaw from Feasibility Study stage, through construction and into
production. This project was completed under budget and ahead of
schedule in an operating mine at a depth of approximately 1000
metres below surface. This project involved more than 10 kilometres
of tunneling and the establishment of an underground conveyor
haulage system capable of supporting a mining rate of 16.5 million
tonnes per year.
In making this announcement, Chris Bradbrook, President and CEO,
stated: "We are extremely excited to welcome Ron to our operational
team at New Gold. His outstanding and lengthy experience in block
cave mining will clearly be an important asset in the timely
development of the New Afton Project into an underground block cave
mine. Ron will be responsible for building the team required to do
this, and is joining us at a time when he can make the maximum
impact on the project. In particular, Ron's involvement in the
supervision of the analysis, construction and development of the
Lower Kalamazoo expansion project will be invaluable in the
construction and development of the New Afton Mine where a 5
kilometre access decline is being established with a conveyor
haulage system.
We believe that our ability to attract someone of Ron's caliber
to the project speaks volumes for its potential to develop into a
significant long term mining operation."
Ron will assume full responsibility of the New Afton Project
from Kevin Ross who is leaving for new opportunities. Kevin's
efforts in moving the project to this point are greatly appreciated
and we wish him well.
New Gold has 37 million shares outstanding.
Certain of the statements made and information contained herein
is "forward-looking information" within the meaning of the
Securities Act (Ontario) and Securities Act (Alberta) or
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934 of the United States.
Forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
from those reflected in the forward-looking statements, including,
without limitation, risks and uncertainties relating to the
interpretation of drill results and the estimation of mineral
resources and reserves, the geology, grade and continuity of
mineral deposits, the possibility that future exploration,
development or mining results will not be consistent with the
Company's expectations, metal recoveries, accidents, equipment
breakdowns, title matters and surface access, labour disputes or
other unanticipated difficulties with or interruptions in
production, the potential for delays in exploration or development
activities or the completion of feasibility studies, the inherent
uncertainty of production and cost estimates and the potential for
unexpected costs and expenses, commodity price fluctuations,
currency fluctuations, failure to obtain adequate financing on a
timely basis and other risks and uncertainties, including those
described under Risk Factors Relating to the Company's Business in
the Company's Annual Information Form and in each management
discussion and analysis. Forward-looking information is in addition
based on various assumptions including, without limitation, the
expectations and beliefs of management, the assumed long term price
of copper and gold, that the Company will receive required permits
and access to surface rights, that the Company can access the total
required financing, appropriate equipment and sufficient labour and
that the political environment within British Columbia and Canada
will continue to support the development of environmentally safe
mining projects so that the Company will be able to complete the
development of the New Afton project. Should one or more of these
risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Accordingly,
readers are advised not to place undue reliance on forward-looking
statements.
WARNING: The Company relies upon litigation protection for
"forward-looking" statements.
Contacts: New Gold Inc. Chris Bradbrook President and Chief
Executive Officer 1-877-977-1067 or (604) 687-1629 (604) 687-2845
(FAX) Email: invest@newgoldinc.com Website: www.newgoldinc.com
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