Issue link: http://resourceworld.uberflip.com/i/102869
MiN i N g New Gold in production at New Afton Mine New Gold Inc. [NGD-TSX; NYSE MKT] excluding capitalized interest of $6 milbegan operations at its New Afton Mine lion, bringing total capital spending for 10 km west of Kamloops, British Columbia the six months ended June 30, 2012 to in June with commercial production $172 million, excluding capitalized interannounced in early August. Ore is being est of $13 million. Over its currently estimated 12-year mine processed from underground and surface stockpiles at an average daily milling rate, life, the New Afton Mine is expected to profor July, of 7,248 tonnes/day. The under- duce an average of 85,000 ounces of gold ground mining rate is now up to 5,700 and 75 million pounds of copper annually. On the exploration front, New Gold tonnes/day. New Gold is anticipating produc- is using two rigs to drill the C-Zone tion for the second half of 2012 to be block of mineralization that lies below 35,000- 45,000 oz gold and 30-35 million and to the side of the New Afton reserve lbs copper. On a co-product basis, total block with the objective of adding to the cash costs are expected to be $630-$650/ mine's life. New Gold is drilling its Blackwater Gold oz gold and $1.35-$1.45 per lb of copper, respectively. By-product and co-product Project, 150 km southwest of Vanderhoof, costs are expected to decline in 2013 and BC. Indicated resources total 7.1 million oz gold at a 0.40 gold-equivalent g/t beyond as the mine reaches full capacity. Project spending at New Afton, in the cut-off. Inferred resources are 2.5 million gold at second quarter 2012, was $97 million, 12-09-18oz 9:37 AM a 0.40 gold-equivalent g/t SVL_Ad_7.375X4.7_1209_PRINT.pdf 1 cut-off. Total capital spending at Blackwater, including exploration and infrastructurerelated expenditures, in Q2 2012 was $30 million, excluding capitalized interest of $2 million. Total capital spending for the six months ended June 30, 2012 was $57 million. With continued exploration success, New Gold is now targeting the completion of over 250,000 metres of drilling in the Blackwater area in 2012 versus the previous target of 210,000 metres. n CORRECTION In the October 2012 edition of Resource World the ticker symbol of Seabridge Gold Inc. on page 55 should have read [SEA-TSX; SA-NYSE]. T S X.V: SV L N Y S E M K T: S V L C Low Cost Silver & Gold Producer in Mexico C M Y CM MY CY CMY Why Invest in SilverCrest? PEOPLE Management team has accumulated a century's worth of international mining success PRODUCTION Santa Elena Mine (Mexico) high-grade gold & silver, open-pit heap leach mine FINANCIAL Strong balance sheet with growing free cash flow PRODUCTION GROWTH Double Ag Eq production RESOURCE GROWTH La Joya + 100 million oz AgEq Resource & growing K Scan the QR codes for more info. Get the FREE mobile app: http:// gettag.mobi WEBSITE 48 www.resourceworld.com MEDIA PRESENTATIONS 501 – 570 Granville Street Vancouver, BC V6C 3P1 Tel: 604-694-1730 | Fax: 604-694-1761 Toll Free: 1-866-691-1730 info@silvercrestmines.com www.silvercrestmines.com NOVEMBER 2012