Sutter Gold Mining Inc. ("SGM" or the "Company") is pleased to announce that Mr. Clayr Alexander, has been appointed as President and CEO of the Company. Hal Herron will continue as the Company's President and CEO until Mr. Alexander joins the Company full time at the end of October.
Mr. Alexander is a mining engineer and senior mining professional with over 30 years experience in virtually all aspects of the mining industry from mine permitting and development to project construction and operations. He has spent 20 years in senior technical and later management positions with Stillwater Mining Company, and has served as an independent consultant. Most recently, with Kinross Gold Corporation, he played a key role in the timely development and construction of the Kupol mine in Far East Russia as Deputy General Manager.
Mr. Alexander will be responsible for all aspects of the Company's growth and development with the focus on advancing the Sutter Gold Project near Sutter Creek, California, which is centrally located within a 10-mile section of the Mother Lode Belt where over 7 million ounces have been produced from 16 historic mines. The Sutter Gold Project hosts a current NI 43-101 compliant (February 2008) indicated resource of 673,600 tons grading 0.33 (uncut) ounces of gold per ton (11.3 g/t) for 223,044 contained ounces and an inferred resource of 2.38 million tons grading 0.19 (uncut) ounces of gold per ton (6.6 g/t) for 458,914 contained ounces. The Company has received all the major permits required by the State of California and Amador County for the development and operation of an underground gold mine and milling facility.
With Mr. Alexander's appointment, the immediate efforts of the Company will be:
Mr. Alexander commented, "The Sutter Gold Project is a solid foundation on which to advance the Company as an emerging gold producer. The Sutter Gold Project has been the subject of multiple non NI 43-101 prefeasibility assessments since the late 1990s that provide the basis for final feasibility evaluation of developing a mining operation on the Lincoln-Comet portion of the Project, indicated resource of 511,700 tons at 0.37 (uncut) ounces per ton (12.6 g/t) and drill indicated inferred resource of 194,100 tons at 0.28 (uncut) ounces per ton (9.5 g/t). The production opportunity is similar to the historic underground mining of narrow veins that has occurred along the Mother Lode structure and exhibits excellent metallurgy. Narrow vein mines are always challenging but the situation at Sutter Creek is certainly much more favorable than much of the underground development and mining I have been associated with in the past.
Permitting is in its final stages and continues to be well managed by the Sacramento office of Golder Associates. Less than an acre (0.77 acres) has been identified as perennial wetlands and will require a Section 404 wetlands permit under the Clean Water Act. Indication from the US Army Corps of Engineers, responsible for administering Section 404, is for a 9 month permitting process. Final Waste Discharge Requirements (WDR) will be included in the final reclamation design and monitoring plans. Permitting is not expected to negatively impact the project's development schedule.
The final feasibility study will assess developing and mining these resources at a nominal 300 to 500 tons per day processed through a simple gravity separation circuit followed by flotation to produce a gold concentrate that will be shipped for final processing to a Nevada facility. As such, Sutter Gold Mine will be one of the most environmentally responsible and sound mining operations in the Western United States while benefiting the local community and economy. Sutter Gold is committed to developing our operations in a socially and environmentally responsible manner.
Finally, I would like to thank Hal Herron for his past efforts in bringing the Company to a point where feasibility and development considerations are the focus at the Sutter Gold Project and an exciting exploration program is being executed by our joint venture partner Premier Gold at the El Alamo Project in Baja Mexico."
Mr. Mark Payne, P.Geo. Calif. 7067, is the Qualified Person for the Sutter Gold Project, as defined by NI 43-101, and has reviewed this release.
About Sutter Gold Mining Inc.
Sutter Gold Mining Inc. is a junior gold exploration and development company pursuing the goal of becoming an emerging producer through the evaluation of the development of the Lincoln-Comet zone of the Sutter Gold Project on the California Mother Lode. SGM controls 3.2 miles of the Mother Lode where 90% of the property has not been explored despite the definition of nearly 700,000 ounces of indicated and inferred resource. Unexplored potential exists at depth on the known zones, on both the foot wall and hanging wall of the Mother Lode and on the Melones Fault, the principal regional structure giving rise to the Mother Lode that exists on the eastern portion of SGM's property package. In Mexico, SGM holds rights to the geologically similar, high grade El Alamo district of northern Baja where historic mining to the water table produced mined grades of 30 to 60 g/t. Initial exploration in joint venture with Premier Gold has demonstrated the extension of high grade veins on strike and at depth and a second phase of drilling will soon commence.
Hal Herron, President, CEO and Director
For additional information, please contact:
Hal Herron, CEO, 307.851.2742, firstname.lastname@example.org
This news release was prepared by Company's management who take full responsibility for content. The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of this release.
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