Endomines’ Friday mine project in Idaho, Successfully Commissions Orogrande Processing Facility
Endomines AB, Stock Exchange Release 2 April 2020 at 08:30 CEST
Endomines AB (the “Company” or “Endomines”) is pleased to announce that it continues to make significant progress at its Orogrande Processing Facility (“OPF”) and the Friday Underground Mine in Idaho County, Idaho, USA.
At the mine, ore production has proceeded as scheduled, and preproduction development has advanced more rapidly than expected. At the present time, development has been completed for the first two stoping areas with enough mineralized material to supply a full-time feed to the mill for the next 6 months. Development is continuing to advance into additional stoping areas to maintain a consistent tonnage to the mill.
“Some recently mined ore sections have contained over 10 grams of gold per ton. As we extend into higher grade sections of the ore body, we expect to encounter additional high-grade material”, says Greg Smith, CEO.
The Orogrande Processing Facility reached another key milestone in March as it was able to demonstrate continuous operation for an extended period. Endomines is preparing to ship a 20 tonnes trial lot of concentrate within the week and is expecting to ship 20 tonnes lots of concentrate every 10 to 14 days as the processing facility continues to ramp up toward its design capacity in April. The Company expects its first revenues to be received prior to the end of April.
"Our Friday team has demonstrated its value in bringing the mine and mill online. Our now proven capability to build and operate a mine on our own creates significant additional value for our shareholders as we continue to advance what I consider to be an exceptional portfolio of projects." Says Greg Smith, CEO of Endomines.
Greg Smith, CEO, +44 7717 880 923, firstname.lastname@example.org
This information is information that Endomines AB is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the contact person set out above at 08:30 CEST on 2 April 2020.
Endomines is a mining and exploration company with its primary focus on Au. The Company operates a Gold mine in Pampalo, has exploration activities along the Karelian Au Line in Eastern Finland and develops mining operations in Idaho, USA. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.
The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).