Tao Minerals to Begin Mining Operations at Its El Colmillo Gold Mineadmin
Tao Minerals, Ltd. announce that it will be initiating mining operations at its El Colmillo Gold Mine in early October. According to project manager, Juan Restrepo, P. Geo., the items of equipment, including the electrical generation plant, necessary to begin ore extraction operations are either already on site or in shipment, with arrival due shortly. The jaw crusher, critical to the operation of the processing plant, will be on site and in place by mid-October. The hiring of the workforce for the mine has been completed and the procurement of dynamite accomplished. Local authorities, enthused over the economic benefits the operation of the mine will bring to their community, are assisting Tao with the completion of the maintenance of the mine access road. In fact, Tao is pleased with the positive reception it has received from the local population, in general, and plans to continue to conduct its operations in a manner that will maintain its image as a valuable asset to the community.
According to Restrepo, Tao will begin mining operations by extracting and accumulating as much as a month’s worth of ore production before activating the ore processing plant, sometime in late October. This approach will ensure that, once begun, processing of the ore will be able go forward without interruption. Initially, ore mining and processing will be conducted at the rate of 20 tonnes per day.
“As you can imagine, we are very excited to be starting up mining operations at El Colmillo,” commented James Sikora, CEO of Tao. “This is what we have been planning and working for. At El Colmillo, Tao is transitioning from exploration to operations and is looking forward to the benefits of that shift in the form of cash flow and profits, which, in turn, should translate into much higher share values. We will be providing additional progress reports as the mining of ore proceeds and ore processing is initiated.”
Tao Minerals is a junior exploration company based in Medellin, Colombia. Tao is successfully positioning itself as a leader in gold exploration in Colombia through key acquisitions of properties with exceptional potential for low extraction cost deposits. Tao’s focus in calendar 2008 is on the upgrading and initiation of operations of its El Colmillo mine, which offers the potential to quickly provide a strong revenue stream, able to fund exploration activities on the estimated high grade gold deposit of its Golondrina property and finance additional acquisitions, while greatly enhancing shareholder value.