This is a correction of the announcement from 08:30 15.07.2010 CEST. Reason for
the correction: Wrong headline.
* Gold production at Pahtavaara during the second quarter was 155 kgs (2009 -
170 kgs).
* Gold grades in the ore delivered to the mill were during the second quarter
lower than plan due to limited availability of richer ore.
* Mining of gold rich ore has been negatively affected by the spring water and
rock mechanic problems. The availability of richer ore is expected to
increase during the third quarter when the mining plan can be resumed.
Three months ended Six months ended Full year
June 30 June 30
2010 2009 2010 2009 2009
Pahtavaara
Gold production kgs 155 170 335 287 680
Gold production tr.oz 4 991 5 472 10 770 9 227 21 862
Ore mined, tonnes 133 380 74 154 241 516 121 502 307 009
Ore milled, tonnes 132 168 94 428 241 993 210 148 502 268
Gold grade*, grams per tonne 1,37 2,02 1,62 1,55 1,64
Gold recovery, % 86,4 89,0 87,3 87,4 87,0
Gold production per mine, kgs
Pahtavaara 155 170 335 287 586
Ersmarksberget - 83 - 83 94
Total 155 253 335 370 680
* Run of Mine (ROM)
Operating highlights at Pahtavaara during the second quarter 2010
Gold grades in the ore delivered to the mill (ROM) were during the later part of
the quarter lower than expected in the mine plan. The main reasons for the lower
gold grade are intense spring water in combination with rock mechanic problems
which temporarily disturbed production from two of the main access areas to the
richer ore. The planned production from these areas was replaced by lower grade
ore. Despite that the lower gold grade in the ore negatively affected the
recoveries in the mill the production in the mill has been working well.
The difficulties with mining the expected gold grades are due to that there are
currently few access points to the richer ore which makes the production
sensitive to disturbances as well as the varied gold grades in the ore bodies.
Local management and the geologists of the mine are working towards optimizing
the mining process and increase the knowledge of the ore with the objective to
follow the set mining plans.
Gold grades in the ore delivered to the mill (ROM) were during the first six
months of 2010 lower than expected in the mine plan. The temporary problems
described above combined with that the gold grades in the ore bodies, in the
short term, are difficult to estimate and are varied have led to that the
forecasted gold production at Pahtavaara for 2010 has been revised from at least
800 kgs of gold to at least 675 kgs of gold.
For additional information:
Kjell Larsson, CEO Anders Haker, CFO
Tel. +46 950-275 06, + 46 70-385 03 57 Tel: +46 70-810 85 59
kjell.larsson@lgold.se anders.haker@lgold.se
Also visit: www.lapplandgoldminers.com
About Mangold Fondkommission: www.mangold.se
Lappland Goldminers AB is a producing mining company with significant
exploration activities. The Company is listed on the market place First North
Premier under the name GOLD, with Mangold Fondkommission AB as Certified
Adviser, as well as on the Norwegian OTC list. Lappland Goldminers' strategy is
to develop mineral deposits into profitable producing mines. The Company is
strategically positioned with the the fully permitted Fäboliden gold project and
the Ersmarksberget deposit and processing plant in northern Sweden. The
Pahtavaara gold operation is located in the north of Finland and the Haveri gold
deposit in the south of Finland. Lappland Goldminers is a member of SveMin, the
Swedish association for mines, minerals and metal producers, and follows
SveMin's reporting rules for public mining and exploration companies.
[HUG#1431846]
CORRECTION: Lappland Goldminers releases operating statistics for the second quarter 2010.
| Source: Lappland Goldminers AB
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