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GOLD MINE DEVELOPMENT – Update on Tulawaka

TANZANIA - NORTHERN MINING EXPLORATIONS of Montreal, 30% owner of the Tulawaka project, has issued an update on pro...



TANZANIA – NORTHERN MINING EXPLORATIONS of Montreal, 30% owner of the Tulawaka project, has issued an update on progress at the site. The balance of the project is owned by PANGEA GOLDFIELDS, the operator and subsidiary of Toronto’s BARRICK GOLD.

The Tulawaka mine is being developed as an open pit operation on the East zone gold deposit together with a plant designed to process 1,000 tonnes of ore per day. At the end of December 2004, a year after the start of work, construction of the plant facility was proceeding satisfactorily. The construction schedule has been deferred by six weeks as the result of customs clearance delays at the port of Dar-es-Salaam and delays in the delivery of structural steel. Earthworks and site infrastructure are near completion,
permanent housing facilities are complete, and concrete installations are 85% complete. Approximately 25,000 tonnes of ore has been stockpiled.

Project costs incurred to the end of last year were US$44.86 million, and Pangea says that the project is expected to be completed within the original scope and budget. Commercial gold production is planned for the first quarter of 2005.

A decision has been made to review and optimize the resource and reserve calculations for the East zone gold deposit. The feasibility study was based on 1.42 million tonnes averaging 11.54 g/t Au.

Visit Northern Mining’s website at www.mdn.qc.com for further details about the Tulawaka project.


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