Niuminco Group Limited reports record gold production for June

In its latest report to the Australian Stock Exchange (ASX), Niuminco said its Edie Creek production for the Quarter was 9,862.5 grams (317 ounces) of gold and 8729.1grams (287 ounces) of silver for sales of AUD$526,000 (PGK1,233,045).

“We have seen record monthly sales and production in June since recommencement of processing ore in February 2014,” said Tracey Lake, Managing Director at Niuminco Group.

He said in June 2016, 392 tonnes of ore were processed, producing 8763.2g (282 ounces) of gold at a grade of 22.3 grams per processed tonne of ore for sales of AUD$469,190 (PGK1,099,871).

“These are very encouraging numbers and we are focused on maintaining increased production from our Edie Creek mine,” Lake said.

Niuminco is pleased to be amongst the junior miners who are seeing an increasing level of gold production.

The company has three highly prospective properties in PNG adjacent or close to existing large mines or deposits including:

·        -   Edie Creek mining leases (83% interest) - an epithermal, gold/silver deposit adjacent to MMJV's (a JV between Harmony Gold and Newcrest) Hidden Valley mine.  The Edie Creek mining leases have all been renewed until 2021 and 2022.  Gold/silver pilot mining and production recommenced in February 2014 and is continuing to be ramped up from the 2016 financial year production level

·        -  May River exploration licence (100% interest) - major copper/gold porphyry style anomaly adjacent to PanAust's/Highlands Pacific’s Frieda River deposit.

·        -  Bolobip exploration licence (100% interest) - a major 'drill-ready' copper/gold porphyry target east of the Ok Tedi mine.

In Tasmania, Australia, Niuminco, through its 72.54% shareholding in TNT Mines Limited, controls and manages a suite of advanced exploration assets highly prospective for tin and tungsten. 

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