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East Delta Completes Facility Upgrade At Huaqiao Gold Mine
2007-02-06 13:01 ET - News Release
MONTREAL, Feb. 6, 2007 (PRIME NEWSWIRE) -- East Delta Resources Corp. (OTCBB:EDLT) (Frankfurt:EJK) is pleased to announce that it has completed the rehabilitation and upgrade of the mining infrastructure at the Company's Huaqiao (pronounced wha-chow) gold property in southwest China. East Delta projects that gold production will resume around March 1st, coinciding with the end of the 2007 Chinese New Year holiday. As a result of the rework, daily throughput capacity has been increased to 100 tonnes per day.
East Delta's Huaqiao property is located within the Hunan-Guizhou gold belt in southwest China and covers an area of approximately 0.7km2. The property presently has seven known gold-bearing quartz vein zones, specified as M1-M6 and Fx, all of which occur in different strata and have different types and characteristics of mineralization.
The facility itself is a floatation type mill with current throughput capacity of 100 tonnes of ore per day. The upgrade work was completed on time and within budget by Henan Metallurgical Group, a local mining facility contractor. At this time, all circuits have been ore tested and confirmed ready for commercial production.
Tom MacGrail, EDLT's Canadian onsite project manager stated, "We are very pleased with the upgrades completed at Huaqiao to date, allowing us to now process ore much more efficiently as we step up production rates going forward. We are now ready to bring this historically proven mine back on line and resume gold production at the beginning of March."
Mr. Victor Sun, CEO of East Delta added, "This is an important milestone for East Delta. This mine has been in production for over ten years and we are extremely excited about getting this proven gold property back into production. Now that the current upgrade work is completed, we expect to see immediate cash flow that will be utilized to further expand the resource base and modernize mining operations at the property."
The Company
East Delta Resources Corp. is a publicly traded Delaware corporation, headquartered in Montreal, Quebec whose primary activity is in mine development and production of gold, and through various subsidiaries also participates in other mineral exploration and mining, specifically, silver, nickel, zinc and lead. The geographic focus of the Company is China.
EDLT and its various subsidiaries are currently developing and working on several projects, the main ones being the Huaqiao gold mine, a substantive 85-sq km exploration property at Bake and a nickel property in Qinghai Province, China.
Safe Harbor
Certain statements contained herein are ''forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Quelle: www.stockwatch.com/swnet/newsit/...6&symbol=EDLT&news_region=U
