By PRESS RELEASE
www.nwmcorp.ca
FOR IMMEDIATE RELEASE TSX Venture Exchange
January 31st, 2013 Symbol: NWM
2,182,631 tonnes of ore to leach pads and 4,346,038 tonnes of waste to waste dumps at an average stripping ratio of 2.0:1 during 2012 and completed construction and permitting for the access road and mining in the Jojoba area. NWM also staked additional contiguous claims and resolved all outstanding litigation issues relation to the SART plant during 2012.
2012 Highlights
Full year production of 19,094 oz. of gold (an increase of 229% on 2011)
Significant improvement in understanding of Lluvia de Oro leach kinetics and ore types Modifications completed to ADR columns to improve gold production capacity Modifications completed to EW circuit to improve gold production capacity
Modifications to solution piping and leach pad irrigation to improve gold production capacity
Resolution to all outstanding litigation issues relating to SART plant Successful completion of 4 quarters of commercial gold production Ongoing geological review in preparation for drilling program
Acquisition of 2 additional claims extending contiguous property package to 5,701 Ha
Completion of access road and permitting for the Jojoba deposit
Successful appointment of cost effective mining contractor capable of mining ramp up
Engagement of an experienced, successful mine development management team
The following key production statistics for: 2012 and 2011.
Category | 2012 | 2011 |
Ore Tonnes Placed on Pads | 2,182,631 | 2,342,340 |
Average Grade (g/t Au) | 0.490 | 0.533 |
Waste Tonnes Mined | 4,346,038 | 3,472,273 |
Total Tonnes mined (dry tonnes) | 6,528,669 | 5,814,613 |
Strip Ratio | 2.0 | 1.48 |
Gold Ounces Placed on Pads | 35,681 | 36,525 |
Gold Ounces Produced | 19,094 | 5,804 |
Average Ore Processed (t/d) | 5,980 | 6,417 |
Total Mined (t/d) | 17,887 | 15,930 |
402 - 121 Richmond Street West
Toronto ON, M5H 2K1, Canada
Phone: (416) 364-6799
Fax: (416) 364-2595
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"NWM has completed one year of commercial production and is preparing to ramp up in 2013 to a gold production rate that will approach 35,000 to 45,000 oz. per annum. In 2012 we gained a better understanding of the interaction between leach kinetics and ore types at Lluvia de Oro and identified various stratigraphic horizons including those for gold bearing siltstones, sandstones and sulphides. Our recent metallurgical test work has allowed us to optimize leach pad operations, and has contributed to meaningful and sustainable increases in gold recovery. We have enhanced geological block model information by inclusion of an additional 116 drill holes previously not included in the model and we are now preparing to undertake 3,000 meters of reverse circulation drilling for reserve expansion and mine life extension. Project economics have been proven in 2012, and NWM is now planning expansion to reap the benefits of the economies of scale that come from increased mining rates. The Lluvia-Jojoba property is under-explored and the planned drill program is expected to add significantly to reserves and mine life," said Chris Berlet, CEO.
NWM is in commercial gold production at its wholly owned Lluvia de Oro and La Jojoba gold mine. The mine is an open pit heap leach operation in Sonora State, Mexico. Management believes the property is significantly under-explored and hosts potential to provide further gold discoveries and resource and reserve upgrades. While management has focused in the past on developing the mine and supporting cash flows, the focus in 2013 will shift to increasing mining rates and drilling to expand geological resources and reserves. Cash flows from mining operations are expected to be used for exploration which can result in adding resources and creating shareholder value.
Additional information about NWM can be found on the NWM website at www.nwmcorp.caor on
SEDAR at www.sedar.com.
For further information, please contact NWM Mining Corporation at (416) 364-6799.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release. NWM Mining Corporation402 - 121 Richmond Street West
Toronto ON, M5H 2K1, Canada
Phone: (416) 364-6799
Fax: (416) 364-2595
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