|By Marketwired .||
|January 20, 2014 08:31 AM EST||
LONGUEUIL, CANADA -- (Marketwired) -- 01/20/14 -- Reunion Gold Corporation (TSX VENTURE:RGD) ("Reunion or the "Company") is pleased to announce that it has recently retained Worley Parsons to conduct a scoping-level study to assess the parameters relating to the possible development of a silico-manganese plant that would be located in Trinidad and Tobago. G Mining Services Ltd. has also been retained to combine the results of the Worley Parsons' scoping study with the results of the July 2013 pre-feasibility study related to the production of manganese concentrate from the Matthews Ridge Project located in northwest Guyana, South America.
As previously announced, the Company has signed a memorandum of understanding with National Energy Corporation of Trinidad and Tobago Ltd. setting out the terms under which the parties will collaborate to evaluate the potential development by Reunion of a silico-manganese plant in Trinidad and Tobago. In addition to its proximity to Guyana, Trinidad and Tobago offers numerous benefits including competitive power costs, deep sea port facilities, dedicated areas for industrial projects and proximity to silico-manganese markets.
The Company anticipates releasing the results of a preliminary economic assessment of the combined studies, including various output scenarios, by the end of Q1 2014.
About the Company
Reunion Gold Corporation is a mineral exploration company engaged in the exploration and development of the Matthews Ridge manganese project located in the North West District of Guyana, South America. The Matthews Ridge Project consists of four prospecting licenses covering an area of 185 km2 in northwest Guyana, in and around the former Matthews Ridge mine. In July 2013, the Company announced a proven and probable reserve estimate of 26.3 million tonnes of manganese with an average grade of 14.2% Mn. Manganese is the fourth largest metal consumed in the world, behind iron, aluminum and copper. It is a key component in steel and iron production.
Cautionary Statement on Forward Looking Information
This press release contains statements that constitute 'forward looking information' under Canadian securities legislation. Such statements include, without limitation, statements concerning the outlook for Reunion's operations, including information about the economic and practical feasibility of establishing a silico-manganese plant in Trinidad and Tobago, and the timing for completion and results of the scoping studies and preliminary economic assessment. Forward-looking information requires Reunion to make assumptions about future events that may not prove to be correct, and involves a number of risks and uncertainties. Consequently, actual results or events may differ materially from those projected or implied in forward looking information. Although Reunion believes that the expectations reflected in the forward-looking information in this press release are reasonable, no assurance can be given that these expectations will prove to be correct. Factors that may cause actual results to vary include, but are not limited to: unanticipated delays in completing studies; inaccurate geological or metallurgical assumptions; cost escalation; lack of financing needed for Reunion to carry out its business plan; and negative changes to general economic and financial market conditions.
The statements containing forward-looking information in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by law. Readers are cautioned not to place undue reliance on forward looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.