Tickers: PINX:RCCMF, XOTC:RCCMF, XTSX:NIP
Tags: #Mining
Brossard,Quebec - TheNewswire - October 7th, 2019 - Nippon Dragon Resources Inc. ("Nippon" or "NDR") (TSXV:NIP), is pleased to report that it is restarting development work at its 100% own Rocmec 1 gold property. An updated reclamation plan has been submitted to the MERN in order to reflect the progress of reclamation work that was conducted on the property this past summer.
The objective is the development of the McDowell and Talus veins. The portal is being opened and dewatering is about to start. The underground development work will be conducted in phases. Phase 1 will focus on level 45 while phase 2 will focus on level 90. The work is expected to extent over a 20 month period. Development plans for subsequent phases are currently ongoing and the goal is to implement each phase in a manner that the phases will overlap each other, thereby avoiding downtime.
Nippon will employ its exclusive and patented thermal fragmentation mining method and conventional mining methods as warranted.
The site will be also be used as a showcase for the thermal fragmentation technology. Potential clients will have the opportunity to view the technology operate in a typical underground setting.
About The Rocmec 1 Project:
The Rocmec 1 project is located in the Dasserat Township, Province of Quebec on the shores of the Labyrinthe Lake. It is approximately 35 kilometres west of the town of Rouyn-Noranda and is easily accessible from Route 117 and the frontier gravel road separating Quebec and Ontario and a secondary gravel road to the site. The property was acquired in October 2005. Dewatering and rehabilitation of the mine commenced in January 2006. To date, Nippon Dragon has invested approximately $33,000,000 in rehabilitating the property, surface and underground infrastructure, diamond drilling, equipment and drifting. The property includes a 100m deep two compartment shaft, an 844-metre decline allowing access to five levels (50, 70, 90,110 and 130 metres). On these levels a total of 1700 metres (drifts and cross-cut drifts) were driven. The Rocmec 1 ore body is well defined by diamond drill holes. A 2010 NI 43-101 report by SGS using a cut-off grade of 3 g/t Au reports a Measured and Indicated mineral resource of 570,300 tonnes grading 6.52 g/t Au (119 500 oz.) and 1,512,400 tonnes Inferred at 7.4 g/t Au (359 600 oz.).
About Nippon
Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation holds two gold properties, Rocmec 1 with resources recognised in accordance with NI43-101 and the Denain property. Nippon also has an exclusive license for the Thermal Fragmentation mining method.
Le present communique est disponible en francais site web de Ressources Nippon Dragon
The company's growth strategy is based on:
- The development of its gold deposits with the objective of producing revenue from its operations;
- Increasing the value of its mining assets by prioritizing the exploration targets; and
- The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations (514) 718-7976 jstella@nippondragon.com
Donald Brisebois, President & CEO (450) 510-4442 dbrisebois@nippondragon.com
Neither TSX Venture Exchange nor its Regulation Services 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 includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442 www.nippondragon.com
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