Toronto Stock Exchange: VG
June 6, 2013
Veris Gold Corp. ("Veris" or the "Company") (TSX: VG) (OTCQB: YNGFF) (Frankfurt Xetra Exchange: NG6A)
is pleased to provide a mid-quarter update regarding production improvements at its wholly-owned Jerritt Canyon gold mine and processing facility in
Elko County, Nevada
. Jerritt Canyon is operated by Queenstake Resources
Ltd. ("Queenstake"), a wholly-owned subsidiary the Company.
Overall Operational Report
For the month of May, the plant averaged over 3,900 tons per day producing 14,840 ounces of gold while operating at an 83% average recovery rate.
"Our total processing tonnage of over 121,500 tons is one of the best production months for the plant to date and demonstrates that we are on our way to achieving a 4,000 ton per day processing rate,"
R. Llee Chapman
"Our gold production for the month was also a Company record. While the 83% recovery rate is an improvement over our previous averages, we will continue to fine tune the plant to increase this all important number."
Mr. Chapman continued,
"The performance in May represents a major turn-around for the Jerritt Canyon Operations and we are very proud of our entire team at the mine site. We fully expect the team to continue with this kind of performance and would like to let all stakeholders know that they can count on us and our people at Jerritt Canyon to deliver."
The SSX Mine produced in excess of 1,000 tons per day, running close to 1,200 ton per day for a majority of the month, but catching up on development in the last week of May. Starvation Canyon development continued in May and multiple headings have now been opened up for mining, allowing the mine to produce approximately 266 tons per day during the month with the main constraint being the haulage capacity to the mill. Small Mine Development, LLC continued their exceptional performance at the Smith Mine in May, averaging over 1,400 tons per day. In total, the mining operations produced well over 80,000 tons for the month and delivered approximately 13,000 ounces of gold to the mill for processing.
The total ore processed at Jerritt Canyon includes 8,152 tons of Atna Resources' Pinson Mine ore containing 2,038 ounces of gold delivered during the months of April and May. The plant has over 1,500 tons per day of excess capacity that is currently used for processing low grade Jerritt Canyon stockpile, but in the future will be filled with additional toll milling ores. The Company is in the process of discussing additional toll milling contracts with several companies, including the running of a 5,000 ton test batch; a report on these test batch results is expected in due course.
The information contained in this news release has been reviewed and approved by the Company's Vice President of Exploration, Todd Johnson, P.E., Qualified Person per the requirements of NI 43-101.