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SymbolPriceChange FAU.V
| 0.47 | +0.02 |
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VANCOUVER , Sept. 14, 2011 /CNW/ -Fire River Gold Corp. and Mystery Creek Resources Inc. (TSX.V: FAU), (Other OTC:FVGCF.PK), (FSE: FWR)(collectively "the Company") is pleased to announce that it has received an advance payment of $1.8 M from Glencore International PLC for the first shipment of gold-rich copper concentrate from the Nixon Fork Mine.
This payment is a provisional advance for the first 48 bags comprising 42.6 dmt (dry metric tonnes) of gold-rich copper concentrate. The bags are palletized and flown from the Nixon Fork Mine aboard a Hercules L382G airplane. Shipping lots of 24 bags are assembled in Anchorage at Lynden Air Cargo's facility and barged in secured 40 ft containers to Seattle for ocean transport to the PASAR smelter in Isabel, Philippines .
About Fire River Gold Corp.
Fire River Gold Corp.'s Nixon Fork Mine is operated by Mystery Creek Resources, a wholly owned subsidiary of Fire River Gold, which is based in Anchorage , Alaska.
The Nixon Fork Mine, located in the resource rich Tintina Gold Belt, is Alaska's newest operating gold mine and is projected to produce 50,000 ounces of gold per year.
Operations started in July of 2011, with plans to ramp up to full production by late fall 2011. This year-round mining program will be producing both concentrate and doré bars. Fire River Gold will be replenishing what is mined on an annual basis by further drilling exploration targets on surface and underground thereby extending the life of the operation and receiving further benefit from the strong metals market.
Fire River Gold has a stable platform for growth due to its strong financial position, a talented and experienced management team and Board of Directors who have the experience to execute on Fire River Gold's strategy.
Nixon Fork is a past producing mine with a high grade production history (42 g/t), and a low capital requirement due to pre-existing infrastructure. Fire River Gold has no debt and is well funded.
On behalf of the Board of Directors,
(Signed)
Richard Goodwin
President & C.O.O.
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