May 18th, 2011
Vancouver, British Columbia
Dome Mountain Project Update
The development of the Dome Mountain gold-silver mine near Smithers, British Columbia is on schedule for commencing ore shipments during the third quarter of 2011. This will be accomplished in spite of the challenges related to a greater than normal snow pack and the late arrival of spring weather.
The major equipment for the mine is on order. Two new Cummins 400 KW generators and the associated switchgear have been ordered from Solid Holdings Ltd. of Abbotsford, British Columbia. They are scheduled to arrive on site at the end of June. The water treatment plant has been ordered from Legacy Water Corporation of Edmonton and installation is scheduled to begin shortly after the generators arrive.
The mine dry and office complex has been purchased from Britco. The unit was built as a hockey dressing room for the 2010 Olympics and is basically in new condition. The unit is ideally suited to our needs. Plans are underway to move the trailers to site and set them up with water, sewer, electricity and a snow roof.
Three major contracts are required for the mine operation. On May 17th, 2011 a contract was signed with Cobra Mining and Excavation Ltd. (Cobra) of Telkwa, British Columbia to provide the underground mining services. The principals of Cobra are experienced narrow vein miners who have previously worked at Dome Mountain. We are extremely pleased to be working with them as we believe that their past experience at Dome Mountain will prove invaluable to the success of our project. The contractor for the crushing and hauling has been selected and the contract should be signed shortly. This contractor will also be responsible for purchasing and erecting the loadout building.
The third major contract required for the operation is for the toll-milling of the ore. The Mount Polley mill operated by Imperial Metals Corporation and the QR mill owned by Barkerville Gold Mines Ltd. are both good candidates offering different advantages. The final selection will be based on factors such as gold-silver recovery, reliability, and cost. We are working diligently to make a selection that will achieve the best financial return for shareholders.
Completion of the mine earthworks, in particular the access road and the sediment control pond, is vital to the mine schedule and these works have been somewhat delayed by the late spring and greater than normal snow pack. The access road has been cleared of snow to promote faster drying so that construction can start sooner. A short section of road requires blasting and the entire realigned section needs to be graveled before the road can be used. The sediment control pond is located in wet area and cannot be completed until the ground completely dries which will likely be in August. In order to start mining without the pond in place, we are working with the water treatment plant supplier to determine if we can treat water directly from the underground for a short period of time.
Lastly, we have begun the search for a Mine Manager to oversee the day-to-day operation of the mine and for a production geologist to be responsible for ore-control. These individuals will play a key role in the successful operation of the mine.
Daryl Hanson, P.Eng.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. Daryl Hanson, P.Eng. is contracted as a consultant to the company and acted as the company's Qualified Person, as defined by National Instrument 43-101 and has reviewed and approved the full contents of this news release.
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FORWARD LOOKING STATEMENTS:
The information contained in this website is provided solely for the reader's general knowledge. The information is not intended to be a comprehensive review of all matters and developments concerning Metal Mountain Resources Inc. All information is offered on a "best intentions" basis. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed upon this information and no representation or warranty is made by the Company to that effect.
This website includes "forward looking statements". Other than statements of historical fact, all statements included in this document, including without limitation, statements regarding exploration results, future plans and objectives of the Company may be forward looking statements. These statements may reflect management's current beliefs and are based on information currently available to management. Forward looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements, including, but not limited to, general economic conditions, changes arising as drilling results unfold, changes in regulatory environments affecting the Company and the availability and terms of subsequent financings. Although the forward looking statements included in this document are based upon what management believes to be reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.