Latin American Minerals Progressing with Paso Yobai Mine and Processing Operations in Paraguay
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Latin American Minerals Inc. is progressing with mining and exploration at its Paso Yobai gold mining operation in Paraguay.
In order to determine the most efficient and cost effective methods for producing gold from the company’s operation, the services of the John T. Boyd Company, professional mining consultants (BOYD) based in Pittsburgh, PA, were engaged in December 2015. Their review included assessment of the Paso Yobai process plant as well as near term plant feed alternatives and includes specific recommendations to maximize near-term cash flow generating potential under the scope of Phase I; the reprocessing of tailings and stockpiles. This analysis and report have now been received.
“The BOYD report has provided a great deal of insight as to what is required from a processing and metallurgical standpoint which will enable the company to achieve a higher recovery rate, greater throughput and significantly lower production cost per ounce of gold produced. Phase 2 envisages further extraction of soft saprolite from the existing Independencia Mine pit and Phase 3 will focus on the mining of hard rock from the Independencia pit. The timing of these phases will be dependent on gold price and financing, however only the front end of the operating process will require minor changes to handle the different material.” said Basil Botha, chairman of Latin American Minerals.
In its Phase I report, BOYD has recommended several important changes to improve recoveries, improve operating efficiency and reduce operating costs. These changes are projected to be fully implemented with full production reached by July 2016, including approximately two months of commissioning and ramp-up time. BOYD has estimated that monthly production should rise to roughly 300 ounces of gold per month for the balance of 2016.
About Latin American Minerals
Latin American Minerals Inc. is a mineral exploration and gold mining company with its core gold and diamond projects in Paraguay. The company is currently expanding its Independencia Mine gold processing plant to encompass vat-leach gold recovery from mineralization extracted in open pit mining activities at its fully permitted mining concession. Management has identified six gold zones for drill testing on the company’s adjacent exploration claims, which are part of the company’s 15,020 hectare Paso Yobai gold project.
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