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Petaquilla Minerals: Molejon Gold Mine Ball Mill Addition
Ltd. (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) announce that its fourth ball mill has arrived at its 100%-owned Molejon gold mine in Panama. The ball mill is presently being assembled for installation as part of the Company's gold treatment plant expansion.
Installation and commissioning of the ball mill is expected to be complete by October 2012. The fourth ball mill is anticipated to enhance plant throughput at Molejon by 1,100 tonnes per day and increase production capacity by approximately 30%.
The projected start-up of the ball mill is being incorporated into the Company's fiscal year 2013 (June 1, 2012 – May 31, 2013) production forecast, which will be provided during the Company's next shareholder webcast. Details of an upcoming shareholder webcast will be announced later this month.
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About Petaquilla Minerals Ltd. Petaquilla is a growing, diversified gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates a surface gold processing plant at its Molejon Gold Project, located in the south central area of its 100% owned 842 square kilometer concession lands in Panama – a region known historically for gold content. In addition, the Company has acquired 100% of the Lomero-Poyatos project located in the northeast part of the Spanish/Portuguese (Iberian) Pyrite Belt and several other exploration licenses in Iberia.
Posted June 7, 2012
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