TORONTO, ONTARIO--(Marketwired - Sept. 28, 2015) -
Silver Bear Resources Inc. ("Silver Bear" or the "Company")
(TSX:SBR) is pleased to announce that orders have been placed for vital
long lead process equipment items, and in addition the Company has
awarded a procurement services contract for the ongoing works at the
Mangazeisky Silver Project in Yakutia, Russia.
- Placed order for three vital long-lead items
namely; electrowinning cell processing equipment; high performance
filters with built in cake-washing capability, and; mill used for
regrinding the concentrate before intensive leaching, all items are
expected to help increase silver recovery and minimise operating costs;
- Awarded procurement services contract to PT Mining, Russia ensuring the Company meets its deadlines during the tight and intensive 2015-2016 procurement window.
Long Lead Processing Equipment
Further to the order that was placed with CITIC Heavy Industries Co. Ltd. for a 500 kW (ø3.0 x 3.7 m EGL) ball mill announced in July (refer to July 16, 2015
press release for full details) the Company has entered into an
agreement to purchase the emew® electrowinning cell processing equipment
Electrometals Group. This electrowinning processing
equipment enables the Company to produce high grade (three 9's) solid
silver powder directly from the leach solution without an intermediate
carbon stage. The anticipated delivery is in time for 2016 winter road
resupply. The emew® system has been available for nearly 20 years
successfully installed in over 50 industrial plants worldwide. The
technology offers increased production capacity, on a reduced footprint
and excellent recoveries from lower concentrations.
The Company has also placed an order with Bilfinger of Italy
for two high performance filters with built in cake-washing capability.
These machines constitute the essential final stage in the separation
of silver bearing solution from the barren solids; supplying clear
solution to the electrowinning system. In addition, the Company has
placed an order with
Metso for a mill used for regrinding the
gravity concentrate before the intensive leaching. It is anticipated
that this gravity concentration and intensive leaching will minimise
cyanide consumption and improve silver recovery.
Procurement Services Contract
Due to a tight and intensive procurement window the Company has awarded PT Mining of Russia
a contract for procurement services for the Mangazeisky silver mine
development. PT Mining demonstrated the necessary experience and skills
to perform the procurement service, with the added ability to maximise
the use of Russian based suppliers. It will be PT Mining's
responsibility to compile packages of equipment and materials to supply
complete process plant sections and take responsibility for delivery and
potentially erection on site. PT Mining will work in collaboration with
the Company's own procurement specialists and Tetra Tech.
Silver Bear's CEO, Graham Hill commented:
"Over the 2015 field season the Company has embarked on an aggressive
project implementation program and the ordering of key long-lead items
such as the ball mill and the electrowinning equipment, and the award of
the procurement services contract are all significant milestones in the
project's development. At this time the accelerated construction and
mine plan for the Vertikalny deposit is progressing well and we are
confident that the Company is in the position to meet its target of
commissioning silver production by the second half of 2016."
Mr. Jacques du Toit, Pr.Eng., MSc.Eng., PMP of Tetra
Tech is a Qualified Persons under National Instrument 43-101 and has
reviewed the scientific and technical information in this release.
About Silver Bear
Silver Bear (TSX:SBR) is focused on the development of its wholly-owned Mangazeisky Silver Project,
covering a licence area of ~570 sq. km that includes the high grade
Vertikalny deposit (amongst the highest grade silver deposits in the
world) located 400 km north of Yakutsk in the
Republic of Sakha (Yakutia) within the Russian Federation. The Company was granted a 20-year mining licence for the Vertikalny deposit in September 2013 and completed a Preliminary Economic Assessment in February 2014. The Feasibility Study, scheduled for completion in 2H 2015, is contracted to Tetra Tech in the UK
with SRK and ERM as subcontractors for the mining and environmental
studies respectively. Other information relating to Silver Bear is
available on SEDAR at
www.sedar.com as well as on the Company's website at www.silverbearresources.com.
This release and subsequent oral statements made by
and on behalf of the Company may contain forward-looking statements,
which reflect management's expectations. Wherever possible, words such
as "intends," "expects," "scheduled," "estimates," "anticipates,"
"believes" and similar expressions or statements that certain actions,
events or results "may," "could," "would," "might" or "will" be taken,
occur or be achieved, have been used to identify these forward-looking
statements. Although the forward-looking statements contained in this
release reflect management's current beliefs based upon information
currently available to management and based upon what management
believes to be reasonable assumptions, Silver Bear cannot be certain
that actual results will be consistent with these forward-looking
statements. A number of factors could cause events and achievements to
differ materially from the results expressed or implied in the
forward-looking statements. Such risk factors include but are not
limited to risk factors identified by Silver Bear in its continuous
disclosure filings filed from time to time on SEDAR. These factors
should be considered carefully and prospective investors should not
place undue reliance on the forward-looking statements. Forward-looking
statements necessarily involve significant known and unknown risks,
assumptions and uncertainties that may cause Silver Bear's actual
results, events, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking statements. Although
Silver Bear has attempted to identify important risks and factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors and risks that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such
statements. Accordingly, prospective investors should not place undue
reliance on forward-looking statements. These forward-looking statements
are made as of the date of this release, and Silver Bear assumes no
obligation to update or revise them to reflect new events or
circumstances, unless otherwise required by law.
Silver Bear Resources Inc.
President and Chief Executive Officer
UK+44 755 2524 firstname.lastname@example.org
Silver Bear Resources Inc.
UK+44 771 131 email@example.com
Silver Bear Resources Inc.
Investor Relations Manager
+416 453 firstname.lastname@example.org