New Gold Inc.: Additional Caving Expertise Added; David Nicholls Joins New Afton Development Team
09 Januar 2008 - 4:20PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (AMEX: NGD) is pleased to announce
the appointment of David Nicholls to the position of Head of
Technical Services for the New Afton Gold-Copper (Au-Cu) Project
located near Kamloops, British Columbia, Canada. In this role he
will manage the Technical Services Department at New Afton with the
responsibility for the mine engineering, geotechnical engineering,
and mine geology, departments. He will be responsible for
optimizing the mine design, schedule and costs.
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.
David has a B.Eng in Mining Engineering with more than 20 years
of underground mining experience in Australia and North America,
working for established international mining companies including
Rio Tinto, BHP Billiton, and Newcrest Mining Ltd. For the past 7
years he has worked exclusively on mining projects which are, or
will be, using block cave and sub-level cave mining methods. Most
recently he was Manager Engineering of the Koala Underground
Project at the Ekati Diamond Mine of BHP Billiton in the Northwest
Territories of Canada. In this role he oversaw the engineering of
the development of an underground sub-level caving operation
beneath the existing open pit operations with conveyor access to
surface. Prior to this he was the Senior Mine Design and Project
Engineer at the Argyle Diamond Mine of Rio Tinto in Western
Australia. In this role he participated in the feasibility stage of
assessing the potential to develop the mine into a 7.5 million
tonne per year block cave operation beneath the existing open pit
operation. The block cave mining is scheduled to commence
production after open pit operations cease later this year.
Preceding this he was Manager Mining for the first stage of block
cave operations at the Northparkes mine of Rio Tinto, in New South
Wales, Australia. The initial block cave operation was at a rate of
4.8 million tonnes per year, with the extraction level 500 metres
below surface.
In making this announcement, Chris Bradbrook, President and CEO,
stated: "We are extremely pleased to welcome David to our
operational team at New Gold. He will report to our new General
Manager, Ron Allum. David's experience in the successful analysis,
development, and operation of block cave and sub-level cave
operations, beneath open pits, is directly applicable to our New
Afton Project. With Ron Allum and David in place we have, in very
short order developed the foundation of a very strong development
and mining team, and we look forward to adding more talent as we
move forward.
We believe that our ability to attract someone with David's
experience, to the project once again illustrates the potential for
it to develop into a significant long term mining operation."
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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