Maxam Gold Corporation, a gold mining and development company, announced today that a equipment supplied by Goldfield International will be the processing equipment for Pembina.
A new state of the art mineral extraction system, supplied by Goldfield International, Inc. ("Goldfield") of Provo, Utah will be employed for the separation and recovery of gold from the mined materials. This planned system is comprised of an Alaskan 100 Wash Plant, capable of handling 100 YPH, followed by a 42" Duplex Jig and a 42" quadplex jig. The final section of the recovery system consists of a 30" duplex jig, a 24" round Jig, a 24" magnetic separator and a Goldtron concentrator table. Water for the operation of the extraction/recovery system will be provided by an 8" diesel water pump.
The company's purchase of U.S. manufactured equipment will afford it the use of Political Risk, Currency Conversion and other insurance benefits the U.S Governments Overseas Protection Insurance Corporation ("OPIC"). The Company anticipates that once the equipment clears customs in Nicaragua, it will take from four to six weeks to transport it to its mining site, set it up and place it into production.
Per company Director, Mr. Delgado Lopez , mechanized mining operations in the concession area yield recoveries ranging from 3.0 to 4.5+ grams of gold per cubic meter of gravel processed. Geological reports estimate there are approximately 5,824,000 cubic meters of gold bearing material in these areas in and around the districts river system.
Pembina Limitada, S.A. will start processing 100 to 150 metric tons per day and will increase production as more equipment is delivered to the concession. The company projects that this will result in revenue of approximately $700,000 per month in gold recovered, with a preliminary cost of $250,000, which is a profit margin of 64%, or $450,000 per month. The overall profitability will increase as more heavy equipment is acquired and put into production.