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Commissioners invests in more Peruvian gold

18th June 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Sydney-based Commissioners Gold has acquired a third gold project in Peru to boost the maiden production of its Mollehuaca gold plant, which was currently being commissioned.

Commissioners and its joint venture partner have acquired the Eladium mining concession, some 35 km east of the Mollehuaca gold plant. The project area covers some 973.75 ha of highly prospective ground, and hosts a number of medium-sized, high-grade operating gold mines.

The area is also prospective for gold/copper porphyry and iron oxide/copper/gold deposits.

The project acquisition was the second for Commissioners in the last week, with the junior recently acquiring the Saulito gold project, in the same goldbelt.

The company told shareholders that both acquisitions were strategic milestones in its plans to develop high-grade, low-tonnage satellite mining projects around the gold processing plant.

Both projects also fulfilled the company’s objective of securing high-grade gold deposits with near-term production potential, low entry costs and scalability.

Meanwhile, Commissioners noted that commissioning of the refurbished Mollehuaca plant would start with the treatment of mine tailings from the Santa Rosa deposit. Final logistical planning for the truck and shovel operation was in progress.

Treatment of these tailings would produce between 680 oz and 780 oz of gold a month, while additional treatment capacity at the plant's carbon-in-leach and flotation circuits would be taken up either by additional Santa Rosa tailings or primary ore from the Saulito and Eladium projects.

Edited by Creamer Media Reporter

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