Palladon Ventures Ltd.: Mining Begins Today at Iron Mountainadmin
Palladon Ventures Ltd. (“Company”) (CDNX:PLL.V – News)(Frankfurt: PV-1) through its subsidiary, Palladon Iron Corporation, resumed mining operations today at the Iron Bull Mining & Milling facility at Iron Mountain, Utah. The historic mine has produced over 80,000,000 tons of material since 1853, but has not been actively mined since 1996.
Blasting and mining began today as the Iron Mountain site went into full operation. The first run-of-mine iron ore to be sent to China was mined from benches 6350 and 6400 and moved to the crusher pad. Mining operations are currently at approximately 5,000 tons per day. This production will increase to approximately 6,000 tons per day as we reach full production in the next four weeks. This newly-mined material will be used to replenish the current stockpile, which will be maintained at 130,000 tons.
For weekly updates on the progress at Iron Mountain, please refer to www.ironbullmining.com.
Property acquired: Palladon Iron Corporation has purchased approximately 27 acres of property adjacent to the mine and waste dumps. The property includes two residential buildings which serve as the mine offices as well as a garage.