KENSINGTON - LEADING COEUR'S GROWTH IN GOLD
The Kensington gold development project, consisting of the Kensington and adjacent Jualin properties, is located on the east side of the Lynn Canal about 45 miles north-northwest of Juneau, Alaska. The mine will be an underground gold mine accessed by a horizontal tunnel and will utilize conventional and mechanized underground mining methods. The ore will be processed in a flotation mill that produces a concentrate which will be sold to third party smelters.
Kensington on Track for Third Quarter 2010 Startup
• Final construction at Kensington – one of the world’s premier environmentally engineered pure gold mines--remains on track for its planned third quarter 2010 startup.
• Recent work has focused on further underground development in preparation for mine production, completion of the 120 bed workers camp, tailings pipeline installation, and tailings facility. Startup of the integrated systems in the plant is ongoing. Worker training and hiring continues.
• The Company expects an estimated 40,000 ounces of gold production from Kensington in 2010.
• Coeur expects 2010 capital expenditures to total approximately $80 million to complete construction at Kensington.
• Exploration drilling continues at Kensington, with a new vein system (Kimberly) targeted. Coeur drilled the first holes at Kimberly in 2009, and 8 of 14 phase one core holes intersected very significant gold mineralization.
• At December 31, 2009, proven and probable reserves totaled 1.5 million ounces of gold
Link to Kensingtongold.com and Kensington job opportunities.
