Oct 19 2013
True Gold Mining Inc. (“True Gold” or the “Company”) today announced the start of detailed engineering and design for its flagship Karma Gold Project (“Karma Project”) in Burkina Faso, West Africa.
The Company has awarded a contract to South Africa-based SENET (Pty) Ltd. for detailed engineering and construction-level design work for a proposed open-pit, heap leach processing facility and related infrastructure1. SENET is also the lead engineer for the Karma Project’s ongoing Feasibility Study, which is expected to be finalized before the end of 2013.
“We selected SENET due to its excellent reputation, expertise, and strong track record working on gold projects in West Africa,” said Peter Carter, Chief Operating Officer and Vice President Engineering, True Gold. “We engaged SENET now to take advantage of the opportunity to reduce costs and save time by integrating feasibility and design engineering for the Karma Project.”
SENET, a leading project management and engineering firm in the field of mineral processing, expects to complete the detailed engineering and design work in Q2 2014.
Peter C. Carter, P. Eng., Chief Operating Officer and Vice President Engineering of the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has reviewed and verified that the technical information contained in this release is accurate and approves of the written disclosure of same.
(1) The Company has not made a production decision and the Company’s strategic plan to develop a stand-alone heap leach operation is subject to the results of its Feasibility Study, which is currently underway. Further, if and when the Company makes any production decision, it will disclose the basis of such decision in accordance with the requirements of NI 43-101.
About True Gold
True Gold Mining Inc. is where gold comes to life. We are committed to growing a successful gold exploration, development and production company, by focusing on projects with low costs, low technical risks and solid economics. The Company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.
Additional information about the Company and its activities may be found on the Company’s website at www.truegoldmining.com and under the Company’s profile at www.sedar.com.
ON BEHALF OF THE BOARD
"Dwayne Melrose"
Dwayne Melrose, President & CEO