15.02.2011

Endomines commences production at the Pampalo Gold Mine in eastern Finland.

Swedish company Endomines AB expects the mine to produce 900-100kg of gold annually.

Commercial production has started at the Pampalo Gold Mine Project which is located in Ilomantsi, eastern Finland, and owned by the Swedish company Endomines AB. When the mine is operating at full capacity, it is expected to produce 900-1000kg of gold annually. Endomines also has additional claims in Finnish Lapland, Ostrobothnia and Southern Finland for mining gold, ilmenite, limestone and wollastonite.

Underground mine production at Pampalo started in April 2010 and 1km of underground development drifting has been completed since then. In total, 45,000 tonnes of ore has been mined by drifting and long-hole stoping. Combined with existing ore stockpiles of 22,000 tonnes, this amounts to a total of 67,000 tonnes of ore stockpiled for processing, equalling approximately four months’ mill feed. Underground production grade has come in as expected and complies with the ore reserve grade.

Endomines AB has invested EUR20 million in the mine, which is expected to be operating at least eight years. Currently the mine employs about 75 people and the majority of the workforce has been recruited locally.

Karl-Axel Waplan, Chairman of the Board at Endomines, said: “I would like to take this opportunity to thank the Endomines management and construction teams, together with the contractors assisting in the mine construction, for their hard work, as well as the Finnish Government for their support in helping make the Pampalo Gold Mine a reality.”


Sources: Kauppalehti, Endomines AB