Hambledon Mining PLC Production update

 
TIDMHMB 
 
 

Hambledon Mining Plc

("Hambledon" or "the Company")

Activities Report for the Quarter Ended 30 September 2012

Hambledon Mining plc (AIM: HMB), the Kazakhstan gold mining and development company, provides its operational report for the three months from 1 July to 30 September 2012. A copy of this report will be available on the Company's website, www.hambledon-mining.com

Production figures for the three months from 1 July - 30 September 2012:

 
                          July      August    September    Total 
Milled tonnes (dry)       49,992    61,054    56,196       167,242 
Gold grade (g/t)          1.41      1.16      1.51         1.35 
Contained gold (gms)      70,488    70,822    84,855       226,165 
Contained gold (oz)       2,266     2,276     2,728        7,270 
Gold recovery %           80.0      81.5      81.0         80.80 
Recovered gold (oz)       1,812     1,854     2,209        5,875 
Recovered silver (oz)     2.082     2,768     2,619        7,469 
 
 

MINING AND PROCESSING OPERATIONS

During the quarter ended 30 September 2012, open pit mining operations extracted 185,300 tonnes of ore averaging 1.2g/t Au.

The metallurgical plant processed 167,242 tonnes of open pit and underground material and produced a total of 5,875 ounces of gold and 7,469 ounces of silver; with plant recovery averaging 80.8%. Plant throughput was constrained by reduced tailings dam capacity which will improve in Q4 with the reinstatement of Tailings Dam No. 3.

UNDERGROUND

Trial mining from the underground delivered 15,125 tonnes of ore averaging 3.32g/t Au. Some of this ore has already been processed and the remainder will be processed in Q4.

During the past quarter a strategic review of the underground operations was completed which led to a decision to temporarily suspend underground operations. The contractor is currently completing mining of accessible ore zones and will demobilise from site in late October 2012 at which point capital expenditure on the underground mine will temporarily cease.

UNDERGROUND DRILLING

As part of the strategic review of the underground operation, Hambledon's 25,000m diamond drill programme will continue. To date, some 17,500 metres has been drilled. The next set of drill results will be announced shortly.

INFRASTRUCTURE

The repair to Tailings Dam No. 3 is complete. The dam is expected to be commissioned in November 2012 after receipt of government permits.

Enquiries;

HAMBLEDON MINING:

Telephone [phone]

Charles Zorab

FAIRFAX I.S. PLC (NOMAD AND BROKER):

Telephone [phone]

Ewan Leggat/Katy Birkin

TAVISTOCK COMMUNICATIONS:

Telephone [phone]

Ed Portman/Jos Simson