Update on Fire at Ekati Mine
Archon Minerals Limited #2801 – 323 Jervis Street Vancouver, BC, V6C 3P8 Tel: 604-682-3303
Update on Fire at Ekati Mine
June 29, 2016 – Vancouver, British Columbia TSX.V: ACS
Archon Minerals Limited (“Archon” or the “Company”) reports that the fire which occurred at the Ekati mine’s processing plant on June 23, 2016, has resulted in damages to a small area of the plant, with no damage to the main structural components. The repairs to the plant are expected to take approximately three months, after which the plant is expected to resume operations at full capacity.
Dominion Diamond Ekati Corporation, the Company’s joint venture partner and operator of the mine, has begun to execute a plan to reduce operating and capital costs during this time, which will include the adjustment of mining operations to pause mining at lower priority and lower value ore bodies, a deferral of non-essential sustaining capital, and a temporary layoff of affected staff across the company. This plan includes a temporary suspension of mining operations at the Lynx pipe, which is located in the Buffer Zone.
Archon will provide further updates as information becomes available.
ARCHON MINERALS LIMITED “Stewart Blusson”
Stewart Blusson, President and Director
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