9th December, 2012, Arequipa, Peru (FSE: GKW)
(“Gold Horizons Mining Co. Ltd.” or the “Company”). Central to the ramping up of gold production and a key component in Gold Horizon’s mining success is the completion of its new gold processing plant. CEO and President, Scott Francis is pleased to report that: “construction is progressing faster than expected and we are now planning to bring the processing plant online in the first quarter of 2013.” This past October we purchased a 4.8 acre canyon as the new location for our processing plant. This private canyon is within 8 miles of the mine and a within a half mile of grid connected electricity. Immediately after this acquisition we spent the next 4 weeks constructing a new road into the property and setting up logistics for the cement contractor to begin his work. This included building a provisional camp and hiring the heavy equipment necessary to prepare, develop and grade the plant. Currently at work is a D7 Caterpillar bulldozer, a 986 front loader, a 20 ton dump truck and a 2500 gallon water truck as well as other ancillary vehicles.
On November 20th the first shipments of construction materials were delivered to the plant and our cement contractor began preparing the foundations and erecting the all important retaining walls. The design layout of the plant takes advantage of the site topography and gravity. There are a series of 6 connected cascading cement slabs each with their own retaining wall. We expect to start pouring the concrete slabs by the end of the second week of December. Scott Francis: “it has taken the Company several long months to acquire this property and it’s very exciting to see the land physically transformed in a matter of weeks into the future site of our gold processing plant. The plant will begin working with the capacity to process up to 50 tons per day of mineral from the Gloria Mine. I have plans to add a second circuit of 50 more tons as the mining operations ramp up production over the course of 2013.”
With the continued support of our investors the Company will continue to purchase the necessary equipment to increase daily gold production to match the processing plant’s capacity. Working the mine and processing plant 26 days per month with an expected 6 grams per ton of gold the mine will produce approximately 7 kilos of gold per month. Over the next 24 months Gold Horizons foresees doubling or top target tripling this production.
About the Company
Gold Horizons Mining is a start up gold and silver producer as well as an exploration company operating in Arequipa, Peru. The Company is committed to building long-term shareholder value through strategic opportunity and identification in the mineral resource sector. The Company specializes in small mine development, specifically underground, narrow vein mining. The Company’s strategy has evolved to include the processing of its own mineral, which has lowered the total costs by up to 50% per ounce. The Company, in partnership with its Peruvian joint venture partner, locates, develops, and operates near production ready mineral projects in Peru.
Forward Looking Statements
This press release contains “forward-looking information. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include statements regarding production estimates and targeted production for 2012. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “planned”,”expect”, “proposed”, “potential”, “believe”, and “estimated”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. These are stock photos and should not be construed to be the Companies Joint venture plant which as of this writing has not been completed.