New Dawn Mining Corp. (TSX: ND) plans to focus on expanding output at the Turk and Angelus Mine in Zimbabwe. The company will further its exploration on their options claims and pursue acquisition opportunities in Zimbabwe.
The company has decided to shut down the Blue Dot Mine Development project in South Africa. The company will place Blue Dot into provisional liquidation. The provisional liquidation will allow New Dawn to effectively manage the disposal of the site. The company will now focus their energy on the Turk and Angelus Mine in Zimbabwe.
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About New Dawn
New Dawn is a Zimbabwe-focused junior gold company currently increasing gold production at its Turk and Angelus Mines, exploring for gold, and identifying and pursuing other development projects, as well as actively assessing other value accretive acquisition opportunities in Zimbabwe.
New Dawn owns and operates the Turk and Angelus Mines in the upper southwest area of Zimbabwe that has the potential to produce an estimated 35,000 to 50,000 ounces of gold per annum.
Currently, a production facility capable of processing up to 400 tonnes per day or 12,000 tonnes per month is in place and operating. The Company maintains a highly experienced work force at Turk Mine of over 770 people.
At New Dawn's Turk and Angelus Mines, the most recent NI 43-101 report documented an aggregate of 959,900 ounces of gold resource grading between 3.8 - 6.1 g/t, with an additional inferred mineral resources of 347,600 ounces of gold grading 5.16 - 5.91 g/t. Reserves and Resources are based upon a 2.45 g/t cut-off and US$875/oz gold price at the Turk and Angelus Mines.
Additionally, the Company has a portfolio of exploration properties in Zimbabwe that includes the Consolidated Bubi Gold Fields, Consolidated Midlands Gold Fields and Consolidated Shurugwi Gold Fields properties.
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