Record output for Galactic

Galactic Resources reports record monthly production in August from the Summitville gold mine in Colorado.

Chairman Robert Friedland says in that month the mine produced over 9,000 oz, bringing total production since the June 5 start of commercial leaching to approximately 24,000 oz gold, and 34,000 oz silver.

Mr Friedland notes that August production was approximately 62% higher than the output in July, thanks to numerous improvements in operations in all aspects of the project.

He said the company expects continued above-plan tonnages in September in a continued effort to regain earlier mining production targets.

The 1,050,000 tons of mined ore on the heap leach pad to date, the company says, contained about 64,000 oz of gold, of which a total of about 52,000 oz will be recoverable through continued leaching.

Mining, crushing, loading and pad expansion activities are continuing on a 24-hour-per-day basis in an effort to achieve the loading of between two and 2 1/2 million tons of ore under leach this year, containing up to 120,000 oz of recoverable gold.



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