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Post by Franko10 ™ on Jun 17, 2005 14:07:27 GMT -5
Morgain Minerals Receives Permit for Mine Start - Castillo Mine, Mexico (ccnm)
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 17, 2005) - Morgain Minerals Inc. (TSX VENTURE:MGM) has received a permit to mine and process 100,000 tonnes of ore from its Castillo Mine located in Durango, Mexico. Mining and stacking ore on the first 30,000 tonne test heap will start immediately.
This first phase permit allows sufficient material to be mined for testing and proving operating methods and costs. It also allows continuity of operations during the time planning and permitting for full-scale production is being done. Morgain has acquired all land, mineral and water rights for such an operation.
The Castillo Mine is located in a very favorable area of Mexico with excellent infrastructure and a good year-round climate. These features, coupled with excellent mining conditions, should allow the production cost per ounce of gold to fall into the medium to low range.
Morgain has ample funds to complete the first phase operation. A modest financing will then be required to place the project into full-scale production. This financing should enjoy excellent terms owing to the information and experiences gained from the testing work.
In addition, Morgain would like to highlight the addition of Keith Piggott to its Board of Directors. Mr. Piggott is a Mexican citizen, a mining engineer and a mine operator in Mexico. Morgain anticipates that Mr. Piggott will be a key member of its management team.
About Morgain Minerals Inc.
Morgain Minerals Inc. is a resource exploration company with a number of precious and base metal properties in Mexico. Its corporate strategy is to explore and develop properties with known resources that can be further explored to a production status. Visit our website at www.morgainminerals.com for the latest corporate information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Morgain Minerals Inc.
Chester F. Millar
Chairman and President
(604) 643-1727
(604) 643-1726 (FAX)
morgain@telus.net
www.morgainminerals.com
The TSX has neither approved nor disapproved of the information contained herein.
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 17, 2005) - Morgain Minerals Inc. (TSX VENTURE:MGM) has received a permit to mine and process 100,000 tonnes of ore from its Castillo Mine located in Durango, Mexico. Mining and stacking ore on the first 30,000 tonne test heap will start immediately.
This first phase permit allows sufficient material to be mined for testing and proving operating methods and costs. It also allows continuity of operations during the time planning and permitting for full-scale production is being done. Morgain has acquired all land, mineral and water rights for such an operation.
The Castillo Mine is located in a very favorable area of Mexico with excellent infrastructure and a good year-round climate. These features, coupled with excellent mining conditions, should allow the production cost per ounce of gold to fall into the medium to low range.
Morgain has ample funds to complete the first phase operation. A modest financing will then be required to place the project into full-scale production. This financing should enjoy excellent terms owing to the information and experiences gained from the testing work.
In addition, Morgain would like to highlight the addition of Keith Piggott to its Board of Directors. Mr. Piggott is a Mexican citizen, a mining engineer and a mine operator in Mexico. Morgain anticipates that Mr. Piggott will be a key member of its management team.
About Morgain Minerals Inc.
Morgain Minerals Inc. is a resource exploration company with a number of precious and base metal properties in Mexico. Its corporate strategy is to explore and develop properties with known resources that can be further explored to a production status. Visit our website at www.morgainminerals.com for the latest corporate information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Morgain Minerals Inc.
Chester F. Millar
Chairman and President
(604) 643-1727
(604) 643-1726 (FAX)
morgain@telus.net
www.morgainminerals.com
The TSX has neither approved nor disapproved of the information contained herein.
