Balen, Belgium (10 November 2009) - Nyrstar NV today announced that
shareholders of Gold Hawk Resources Inc (TSX-V:CGK) (Gold Hawk) had
approved Nyrstar's acquisition of an 85% interest in the Coricancha
mine in Peru.
As previously announced, Nyrstar's acquisition remained subject to
Gold Hawk shareholder approval. The Gold Hawk shareholder meeting
was held early today in Vancouver, Canada and over 96% of
shareholders voted to approve the transaction.
Completion of the acquisition is expected to occur on 12 November
2009.
About the Coricancha mine
The Coricancha mine is a poly-metallic mine with more than 60 years
of operating history and currently comprises a 600-tonne per day ore
processing facility, underground mine and reserves and resources
containing gold, silver, zinc, lead and copper. The mine is located
(approximately) 90 kilometres east of Lima, Peru in close proximity
to a number of other significant mining operations and exploration
properties. Operations at the mine have been suspended since May
2008. The Company intends to re-start the mine after construction of
a new tailings facility in H1 2010. The Company also intends to
undertake an exploration program that is expected to significantly
increase mineral resources and reserves, and allow for an expansion
of the scope and scale of operations in 2011. The expanded operations
are expected to produce annually (approximately) 45,000 troy oz of
gold, 2.4 million troy oz of silver, 20,000 dry metric tonnes (dmt)
of zinc concentrate and 15,000 dmt of lead concentrate. In addition,
it is estimated that the existing tailings facility contains
(approximately) 35,000 troy oz of recoverable gold. The mine has
three main product streams: a gold doré, a zinc concentrate suitable
for treatment at Nyrstar's European and Hobart (AUS) smelters, and a
lead concentrate high in precious metals which is well suited for
treatment at Nyrstar's Port Pirie (AUS) lead smelter.
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About Nyrstar
The partner of choice in essential resources for the development of a
changing world. Nyrstar is a leading global multi-metals' business,
producing significant quantities of zinc and lead as well as other
products (including silver, gold and copper). Nyrstar is listed on
NYSE Euronext Brussels under the symbol NYR. For further information
visit the Nyrstar website, www.nyrstar.com.
Contacts
Michael Morley
Director Legal and
External Affairs
T: +44 20 7408 8120
[email protected]
Investors
Chris James
Group Manager,
Investor Relations
T: +44 20 7408 8161
M: +44 7912 269 497
[email protected]
Media
Geert Lambrechts
Manager
Corporate Communications
T: +32 14 449 646
M: +32 473 637 892
[email protected]
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.