October 30, 2007 TSX Symbol: ELT
Electra Gold Ltd. is pleased to announce that a Mines Permit has been received from the Ministry
of Energy, Mines and Petroleum Resources to construct an access road (Road WN820 Ext.) and
trenching project to the company’s wholly-owned Apple Bay Chalky Geyserite Deposit on the
shores of Holberg Inlet. A 5,000-ton bulk sample of chalky geyserite was produced from this
deposit in 1968. The Apple Bay deposit is 6 kilometers southeast of the Company’s PEM100
deposit which has been shipping product to the Ash Grove Cement Plant in Seattle since 2003.
A Ministry of Forests Special Use Permit has also been received by Electra Gold to allow timber
cutting in the construction of the road. A letter of support has also been given by the Quatsino First
Nation subsequent to the successful completion of an Archaeological Impact Assessment.
Future production from this deposit will be enhanced from lower costs due to the elimination of the
trucking component as the product can be loaded directly onto barges from the quarry site. An
additional cement manufacturing customer has expressed interest in supporting the detail
exploration of the Apple Bay site. Electra intends to start construction of the WN820 Ext. road
immediately and complete the trenching program before the end of 2007. Results of the program
will be used to develop a quarry design in the first quarter of 2008.
Sampling (refer to News Release, dated September 19, 2007) by Lafarge Cement is ongoing and
assay results are pending.
For further information call:
A. Salman Jamal
Director, VP Finance and Corporate Communications
604-694-1994 Business
604-694-1995 Fax
888-410-1994 Toll Free
J. T. Shearer, M.Sc., P.Geo, President, is the Qualified Person as defined by NI 43-101 who
supervised the preparation of the technical material of this release.
On behalf of the Board of Directors,
“J. T. Shearer”
President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of the contents herein.
|
