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April 8, 2013 /PRNewswire/ -
Veris Gold Corp. (TSX: VG) (OTCQB: YNGFF) (Frankfurt Xetra Exchange: NG6A) is proud to announce that production at its third underground gold mine, Starvation Canyon, commenced on
April 7, 2013. Starvation Canyon is part of the Jerritt Canyon Operations located in
Elko County, Nevada and operated by Veris Gold
USA Inc., a wholly-owned subsidiary of Veris Gold Corp. (the "Company" or "Veris").
April 6, 2013 the Company completed the ventilation raise and secondary escapeway required to allow Starvation Canyon to begin production. The development of two zones and three production levels has also been completed during this time, with total development of 1,035 metres (3,394 feet) completed to date. In April the plan is to produce 9,000 tons of ore averaging 0.15 ounce per ton and the operation will then ramp up to 600 tons per day by the end of June averaging 0.24 ounce per ton.
Randy Reichert, Co-CEO and COO of Veris stated, "We are very excited about bringing Starvation Canyon into production, the first mine to come into production at Jerritt Canyon since 2004. The contractor, Small Mine Development, has done an incredible job in developing the mine which is on schedule and on budget. The portal was started in late November and just over four months later the mine is already producing ore. Production at Starvation Canyon is a key element to the 2013 production plan for Jerritt Canyon Operations and this mine is expected to produce 160,000 tons this year at an average grade of 0.23 ounce per ton."
This news release was reviewed and approved by the Company's COO,
Randy Reichert, M.Sc. P.Eng., the Qualified Person under NI 43-101 for purposes of this release.
Veris Gold Corp. is a growing mid-tier North American gold producer in the business of developing and operating gold mines in geo-politically stable jurisdictions. The Company's primary assets are the permitted and operating Jerritt Canyon mill and gold mines located 50 miles north of
Elko, Nevada, USA. The Company also holds a diverse portfolio of precious metals properties in
British Columbia and the
Yukon Territory, Canada, including the former producing Ketza River mine. The Company's focus has been on the re-development of the Jerritt Canyon mining and milling facility.
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