Today we are happy to announce that the first 1,000 pounds of ore has been crushed at Treasure Canyon Lode Mine. The Company has begun processing the initial ore crushed. This process entails the following steps:
(1) Crushing (or milling) of the rock ore to liberate gold particles from rock. We are milling the rock ore into powder down to 200 mesh sized powder.
(2) We then add water to the powder to create a slurry mix.
(3) We then use concentration methods on the slurry mix. Concentration means increasing the amount of gold (or other precious metals) by selectively removing lighter particles. We use gravity concentration methods that do not require mercury or any other chemicals. This results in a concentrate.
(4) The concentrate is then smelted into Doré bars (or buttons).
(5) The metals in each Doré bar still needs to be separated before it can be sold, so the bars are sent to a refinery. The refinery will determine the percentage of fine metal contained in each and pay us based on the amount of fine metals contained in each bar at the daily market price.
We expect to crush approximately 200-250 pounds a day until we receive the milling circuit that can crush and process 1-2 tons per hour (TPH). We expect the 1-2 TPH milling circuit to arrive in the next few weeks.