🕐06.12.10 - 00:54 Uhr
Navigator Resources - Record Bronzewing Production Month
ASX ANNOUNCEMENT
ASX Code: NAV
6 December 2010
RECORD BRONZEWING PRODUCTION MONTH
Newly established mid-tier gold producer, Navigator Resources Limited (ASX:
NAV) (Navigator) is pleased to provide the following operations update
regarding its Bronzewing Gold Project in Western Australia.
Highlights
November gold production higher than the previous record month of October
2010
7,600oz of gold produced
Successive record gold production weeks in excess of 2,000oz each to end
the month
Record mill throughput of 211,000 tonnes of ore treated for the month
Navigator is pleased to announce that further to its ASX announcement of 5
November .2010 titled "October Production Surpasses Forecasts", the Company
has achieved
another new gold production record of 7,600oz in the month of November.
Managing Director David Hatch advised that "this is a good result for NAV
on the back of our October achievement.
During October whilst the Central Pit slip cleanup was occurring, we
increased mill throughput by some 20% to around 2.5Mtpa to maximise gold
production from the
constrained working areas."
He further advised that "at the end of October, ore stocks were very low
and that there were limited ore blending options at the beginning of
November, but this did not stop us recording our best production month
since startup in April 2010."
Mr Hatch further added that "the 2.5Mtpa has become the new mill throughput
benchmark and this was carried through November, with ore treated totalling
211,000 tonnes for the month.
Ore stockpiles are increasing despite us
achieving record mill throughput."
"Although the first couple of weeks of gold production in November were
lower due to limited ore blending options, weve really finished the month
well, with successive
record weeks in excess of 2,000oz of gold in each.
Unit costs are
decreasing and were now starting to accumulate significant cash; this will
be the subject of a separate, pending ASX announcement."
Please click here for the full announcement:
http://www.navigatorresources.com.au/files/files/769_101206_NAVASX_Bronzewing_Update_Final.pdf
For further information
David Hatch
Managing Director
Navigator Resources
Tel: (08) 9226 5311
Email:
James Harris
Professional Public Relations
Tel: (08) 9388 0944
ABOUT NAVIGATOR
Navigator Resources Limited (ASX: NAV) transitioned from explorer to gold
producer in April 2010 and its objective is to build value for shareholders
by becoming a highly
regarded and profitable gold producer with a pipeline of advanced
projects.
The Company acquired the Bronzewing Gold Project (located 960km northeast
of Perth) in late 2009, and this Project recommenced production in April
2010.
Navigator
also continues to pursue development opportunities at the Leonora Gold
Project (located 830km northeast of Perth) by initially having carried out
a trial mining
program.
Both gold projects are well located with respect to regional
infrastructure, being in the heart of the northeastern goldfields region of
Western Australia.
All required mining permits and granted mining leases
are in place both at Bronzewing and Leonora.
The Companys medium term
objective is to target 150,000oz pa of gold production from these two open
pit projects.
Navigator also maintains an interest in assets in the East Kimberley region
of WA, including the 100% owned Cummins Range Rare Earth Project.
ACN: 063 366 487
Ground Floor, 45 Richardson Street, West Perth WA 6005
Tel: (08) 9226 5311 Fax: (08) 9226 5411 Email:
Website: www.navigatorresources.com.au
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