Arequipa, Peru, 6-20-2013 -- Gold Horizons Mining (GHM) a BVI corporation (ticker: GHMG on GXG markets) can inform that central to the ramping up of gold production and a key component in Gold Horizon’s mining success is the completion of its new Yuromayo Processing Plant. In relation to this GHM is pleased to announce that all work with MBM Mining S.A.C. which consisted of completing the metal fabrication, mechanical connections, plumbing, installation of primary crusher, mills and conveyors, initial installation of electrical motors and metallurgy testing has been completed.
The next step is to finalize the electrical installation and wiring up of all the integrated components. Our senior joint venture partner on June 19th signed a contract with Maquinarias Portella S.A.C to complete this work. The estimated completion time is around 25 days. CEO and GHM President, Scott Francis explains: ”I am pleased to finally reach this stage in the construction of the processing plant. The electrical installation is the last major step in the completion of the plant. In the coming weeks we will be breathing life into our wonderful facility by starting and testing for the first time all the major components which will include crushers, conveyors, mills and pumps. This cannot happen too soon as we have also been working hard to develop the Gloria Mine veins, specifically the Julia and Blanca veins. Widening of the tunnels, installation of electric winches in the shafts and ventilation are some of the improvements, which will increase our daily production and mineral reserves. In addition to Gloria mineral being accumulated the company has also secured numerous letters of intent from local miners to process their entire mineral stock. They too are stockpiling significant levels of ore in anticipation of our processing plant coming online. The plant is estimated to begin processing between 40 and 60 tons per day and with the combination of these local mines as well as the Gloria mine mineral it will not take long before the plant is at full capacity and we can begin expansion to accommodate more mineral aiming at the 250 - 300 tons per day capacity all of which will bring in massive increases to revenue and the companies bottom line. These are exciting times indeed and I am pleased to be part of it.”
Gold Horizons Mining Co. Ltd. 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 opportunities and identification in the mineral resource sector. Gold Horizons Mining specializes in small mine development, specifically underground, narrow vein mining. The Company’s strategy has now evolved to include the processing of its own mineral, which has lowered total production 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 by its very nature contains forward-looking information. Except for statements of historical fact certain information contained herein constitutes forward-looking statements, which may include statements regarding production estimates and targeted production for 2013/14. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipation", "scheduled" or "believe". 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 this forward-looking information there may be other factors that cause the 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 any forward-looking information or statements. The Company does not undertake to update any forward-looking information or statements except in accordance with applicable securities laws.