The Conversation (0)
Colossus Minerals Inc. (TSE:CSI) reports an update on development activities at the Serra Pelada gold-platinum-palladium project, Para State, Brazil.
The press release is quoted as saying:
In order to speed up the decline development, Colossus received delivery of two Voest-Alpine road headers in November 2010. The units are now in operation and are performing as expected with eight metres of unsupported excavation achieved in the first ten-hour shift. Rock conditions encountered to date in the decline are exceeding expectations.
Colossus Minerals’ President and CEO, Randy Reichert says:
“The Serra Pelada Project has advanced significantly during the second half of 2010. The Project is now fully permitted, with the receipt of both the environmental and mining licenses, the underground decline development is well underway and there are over 250 employees working aggressively on all of our various development initiatives. The Project is quickly taking shape and we are looking forward to complementing our existing surface drill program with the commencement of underground drilling in the first half of 2011.”
Click here to access the entire news release.