Sydney, May 1, 2008 AEST (ABN Newswire) - Tamaya Resources Limited (ASX:TMR)(PINK:TMAYF) is pleased to announce that the Company will commence planning for "Project 4000" following delivery of "Project 3000" at its 100% owned Punitaqui copper mine and processing operations in Chile.
- Milling rate and mined production achieves 3000 tpd
- Planning underway for 4000 tpd scenario
- Mining is moving into higher grade zones
- Focus now on sustaining levels and improving recoveries
"Project 3000" was formally delivered by management on-site during April, and involves processing 3,000 tonnes per day (tpd) at Punitaqui from the underground section at Cinabrio, through transportation, then crushing and milling.
Tamaya's focus is now to deliver 3000 tpd on a sustainable basis from underground. The Company has already launched a business improvement program targeting costs, revised its mine planning to access higher grade zones and has also commissioned specialist consultants to improve recoveries. Following the success of "Project 3000", the Tamaya board and management will commence planning to mine 4000 tpd from a combination of underground and open pit ore sources, supported by the recent outstanding open-pit exploration discovery at Dalmacia.
Improvements in the operations in Chile have provided a platform for the Company's overall plans for 2008 which include a prospective dual TSX listing and strategies to realise value from Tamaya's portfolio of gold assets in Armenia and Portugal.
Contact
Hugh Callaghan
Executive Chairman
Tamaya Resources Limited
Media:
Fortbridge
Bill Kemmery
Tel: +61 (0) 400 122 449
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