Amax and Bema - first gold produced from Refugio Mine, Chile.VANCOUVER, BC--(BUSINESS WIRE)--April 17, 1996--On Saturday, April 13, 1996, the first gold was produced at the Refugio Mine (50 percent Bema Gold/50 percent Amax Gold Inc.). Mining of ore has been underway since late January and the leaching process started on March 26, 1996. This first gold pour consisted of 1,500 ounces of dore which had a purity of close to 90 percent and represented approximately 1,344 ounces of pure gold. Current indications at the Refugio Mine are that the ore is leaching well, consistent with the projections of the mine development plan. The primary crusher has operated well, demonstrating its ability to crush beyond the 30,000 tonnes per day required under the mine development plan. The fine crushing plant which consists of two secondary and four tertiary crushers, to crush the ore to 90 percent minus 1/2 inch, has operated at the rate of 30,000 tonnes per day, but has not yet sustained that level due to installation and start-up mechanical problems with some of the tertiary crushers, resulting in unscheduled plant shut downs for repairs that are causing a slower than anticipated start-up. Fluor Daniel (Chile) S.A. who built the mine installations including the crushing plant under a guaranteed fixed price contract is currently working with Allis Minerals, the crusher supplier, to ensure the fine crushing facilities will consistently sustain design capacity in the shortest possible time. The Refugio Mine is an open pit, heap leach gold mine projected to produce an average of 233,000 ounces of gold annually with an initial mine life of 9.4 years. The mine is located in the Maricunga District of Northern Chile, 120 kilometers east of the town of Copiapo. AMAX GOLD INC. S. Scott Shellhaas President & C.O.O. BEMA GOLD Bema Gold Corporation is a Vancouver, British Columbia based intermediate gold producer with operating mines and development projects in Russia, South Africa, Chile and Canada. CORPORATION Clive T. Johnson Chairman, C.E.O. & President -0- The Vancouver and Toronto Stock Exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. neither approve nor disapproved. Bema Gold Corporation trades on the Vancouver, Toronto and American Stock Exchanges This is a list of American stock exchanges. Stock exchanges in Latin America (where Spanish and Portuguese prevail) use the term Bolsa de Valores, meaning 'bag' or 'purse' of 'values'. , symbol BGO BGO Bismuth Germanate BGO Baguio City (Philippines) BGO Blinding Glimpse of the Obvious BGO Bergen, Norway - Flesland (Airport Code) BGO Blue and Gold Officer (United States Naval Academy) . Amax Gold Inc. trades on the NYSE NYSE See: New York Stock Exchange , symbol AU, and the TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , symbol AXG AXG Adult-Type Xanthogranuloma . CONTACT: Bema Gold Corporation John Anderson, 604/681-8371 or Amax Gold Inc. Mark Lettes, 303/643-5500 |
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