|By Marketwired .||
|January 15, 2014 05:56 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/15/14 -- Banks Island Gold Ltd. (TSX VENTURE:BOZ) (the "Company") is pleased to report a corporate update of its construction and project development activities at the Yellow Giant Gold Property, located on Banks Island, British Columbia.
The Company has completed 275m of underground development at the Bob Zone to date. Underground development includes 14m in the mineralization on the first level, generating approximately 800 tonnes of mineralized material. The Company will complete an additional 20m of development in mineralization on the 1st level in order to provide a drilling platform for production mining. Development in the main decline is on-going with 150m of development required to reach the 2nd level in the mineralized vein. Longhole mining will commence once development of the 2nd level is complete. The Company has acquired a mobile longhole drill which is scheduled to arrive onsite in mid-February. A photo of the mineralization in the first level is shown in Figure 1.
To view "FIGURE 1 - Bob 1st Level Mineralization," please visit the following link: http://media3.marketwire.com/docs/BOZimage.jpg.
The Company has processed approximately 1,500t of mineralized material through the Dense Media Separation ("DMS") Plant to date and is preparing an initial shipment of concentrate for shipping. Further details will be provided when information is available.
The DMS Plant is fully operational and operating as designed. Observation of initial concentrate assays and inspection of the concentrates produced have determined that high density minerals, including Garnet and Diopside, are diluting concentrate grades. These heavy non-sulphide minerals, which are present in small blocks of Skarn lithology, are located in proximity to mineralization in some areas in the hangingwall of the Bob Zone.
In order to ensure income and to optimize the overall economics of the Yellow Giant project the Company has developed and implemented a modified mining and processing plan.
Infill diamond drilling in planned stopes at the Bob Zone is designed to identify areas with Skarn lithology in proximity to the gold mineralization. Stopes without Skarn will be prioritized and mined in order to provide mill feed able to produce high-grade DMS concentrates. Gold mineralization with Skarn minerals present will be kept in inventory until they can be processed by grinding and flotation. The flotation process will allow the rejection of skarn minerals.
The Company plans to add a grinding and flotation circuit to the DMS plant to increase gold recovery and concentrate grades. Increased concentrate grades will improve payable metals and decrease costs associated with shipping and treatment of concentrates.
The Company has recently invested approximately $1.5M in the grinding and flotation plant circuits. New thickener tanks for the circuit have been purchased and delivered to site. Installation of the tanks is planned in February. The Company has ordered trailer mounted grinding and flotation modules from Sepro Mineral Systems Corp. (Sepro), based in Langley, BC. Manufacturing of the modules is nearing completion, with testing of the units scheduled for late January, and shipping to site in early February. Filter presses for concentrate and tailings have been ordered and are scheduled for delivery to site in early March.
Metallurgical testwork (news release dated October 22nd, 2012) indicates that the addition of a rougher flotation circuit would increase the grade of the concentrate to 109gpt Au with an increase in gold recovery to 90%.
The Company has previously released a Preliminary Economic Assessment (2013 PEA) for the Banks Island Mineral property which is contained in the technical report "Technical Report & Preliminary Economic Assessment" dated February 1st 2013 authored by Robert Baldwin, P.Eng. The 2013 PEA contemplated the production of a concentrate using Dense Media Separation (DMS) with a concentrate grade of 55gpt Au, gold recovery of 85%, and gold payment of 87%.
As reported by news release on July 23rd, 2013 the Company has an offtake agreement with Metallica Commodities Corp. ("MCC") for the sale of concentrates produced at the Yellow Giant Gold Property. The Company has drawn US$3,000,000 of the US$6,000,000 advance payment facility to date and anticipates further drawdowns in the coming months as required.
The Company has decided to discontinue work on the Red Mountain Gold Property, located near Stewart, BC. The Company has terminated its option to purchase and returned the property to Seabridge Gold Inc. The Company focus is to develop, explore, and expand its Yellow Giant aggressively and all resources have been allocated towards achievement of this goal.
Mr. Benjamin Mossman P.Eng, CEO of Banks Island Gold is the qualified person who reviewed and approved the contents of this news release.
The Company is a junior mining resource exploration company focused on exploring for and developing economically viable mineral resources. The Company's mineral property is located in British Columbia. For more information, please refer to the Company's website at www.banksislandgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Benjamin W. Mossman, P.Eng, President, Director, & Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. These statements, however, are 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, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to: risks related to the exploration and potential development of the Company's project, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as those factors discussed in the sections relating to risk factors of the Company prospectus dated September 30, 2011 filed on SEDAR.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
Banks Island Gold Ltd.
Benjamin W. Mossman
President, Director, & Chief Executive Officer
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Aug. 27, 2016 08:45 PM EDT Reads: 2,290
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Aug. 27, 2016 08:45 PM EDT Reads: 1,756
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 27, 2016 06:15 PM EDT Reads: 710
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 27, 2016 06:00 PM EDT Reads: 3,083
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Aug. 27, 2016 06:00 PM EDT Reads: 723
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 27, 2016 05:15 PM EDT Reads: 1,571
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Aug. 27, 2016 05:00 PM EDT Reads: 1,876
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Aug. 27, 2016 04:45 PM EDT Reads: 1,626
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Aug. 27, 2016 04:00 PM EDT Reads: 569
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 27, 2016 03:15 PM EDT Reads: 759
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 27, 2016 02:45 PM EDT Reads: 3,446
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Aug. 27, 2016 12:45 PM EDT Reads: 2,343
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 27, 2016 12:30 PM EDT Reads: 3,615
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 27, 2016 12:00 PM EDT Reads: 661
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Aug. 27, 2016 12:00 PM EDT Reads: 525