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Message: Veris Gold Corp. Achieves Monthly Record Ounce Production at
Jerritt Canyon in October 2014
VANCOUVER, Nov. 7, 2014 /CNW/ - Veris Gold Corp. ("Veris" or the "Company") is pleased to announce that a record 18,081 ounces of gold were produced for the month of October at its wholly-owned Jerritt Canyon gold mines and processing facility in Elko County, Nevada. Jerritt Canyon is operated by Veris Gold USA Inc., ("Veris USA"), a wholly-owned subsidiary of the Company.
During the month of October the processing plant at Jerritt Canyon averaged 4,015 tons per day of Jerritt Canyon ore with an average recovery rate of 86%. The improvement in the grade processed, from 0.15 ounces per ton ("opt") in September to 0.17 opt in October, contributed significantly to the record monthly production achievement. These results highlight the continued growth and improvements happening at the property.
Francois Marland, CEO commented, "The operations continue to improve with every passing day thanks to the dedication and perseverance of our team at Jerritt Canyon headed up by Graham Dickson, COO."
Graham Dickson, COO commented, "The continually improving performance of the milling facility is due to the hard work and dedication shown by the Milling Group headed up by the Mill Manager Chris Jones. We would like to recognize Chris Jones, and his team for a job well done in achieving the highest ever monthly Veris gold production. They have been aided in this by Small Mine Development ("SMD") our mining contractors and by our own internal mining group."
Saval 4 Mine Opening
On October 23, 2014 the Company celebrated the official opening of the Saval 4 Gold Mine. Late in the second quarter of 2014 the Company re-commenced development of Saval 4, the fourth operating underground mine at Jerritt Canyon, with pre-production occurring in July. The Company plans to mine the Saval 4 using existing equipment and crews at a scheduled mining rate between 250 and 300 tons per day grading approximately 0.2 opt.
Anova Metals plans to deliver its first batches of Big Spring's ore to the property in June 2015. Key terms of the toll milling agreement provide for the delivery of up to 1,000 tons per day of ore, which will be processed in 25,000 ton lots. The Jerritt Canyon processing facility is located approximately 26 miles south from the Big Springs project. This will further reduce overall cash costs at Jerritt Canyon resulting in a more profitable operation.
Third Quarter results will be issued end of day on November 14, 2014.
Assaying of all mine production samples are conducted by the Jerritt Canyon lab using standard fire assay techniques. The company's Quality Assurance and Quality Control protocols are documented in the most recent NI 43-101 Technical Report available on Sedar or at the Company's website.
The information in this news release was compiled and reviewed by Graham Dickson, COO of Veris Gold Corp. The information contained in this news release has been reviewed and approved by the Company's Vice President of Exploration, Todd Johnson, M.Sc. (Qualified Person per the requirements of NI 43-101).
About Veris Gold Corp.
Veris Gold Corp. is a growing mid-tier North American gold producer in the business of developing and operating gold mines in geo-politically stable jurisdictions. The Company's primary assets are the permitted and operating Jerritt Canyon processing plant and gold mines located 50 miles north of Elko, Nevada, USA. The Company's primary focus is on the re-development of the Jerritt Canyon mining and processing plant. The Company also holds a portfolio of precious metals properties in British Columbia and the Yukon Territory, Canada, including the Ketza River Property.
On behalf of
"VERIS GOLD CORP."
President and CEO
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