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Rochester Resources Ltd. — Capital/Financing Update 2024
Nov 21, 2024
43548_rns_2024-11-21_db32420c-1065-4aa9-90a2-03e87af72201.pdf
Capital/Financing Update
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TSX Venture: RCT Frankfurt: R5I
Suite 1305-1090 W. Georgia St., Vancouver, BC, V6E 3V7 Phone: 604.685.9316 Fax: 604.683.1585
News Release
ROCHESTER ANNOUNCES PROCESSING PLANT MODIFICATIONS
Vancouver, British Columbia – November 21, 2024: - Rochester Resources Ltd. (the “Company” or “Rochester”) (TSXV: RCT) provides this update on work programs at the 100% owned Mina Real property.
Since 2007, the Mina Real processing plant has been treating mineralized material from the Estanzuela Unit, with additional material from the San Francisco Unit since 2014. The plant employs a conventional cyanidation process, including crushing, grinding, and chemical treatment.
The Company has conducted mining operations without defined mineral resources and the production decision was not based on a feasibility study of mineral reserves that has demonstrated technical or economic viability.
Historically, material from these two sources has contained high levels of manganese, which has negatively impacted silver production. Over the past ten months, the Company has been actively evaluating potential plant modifications to increase efficiency and silver production . Pilot testing has been conducted over the past four months and based on results achieved the Company is now moving forward to implement the plant modifications.
The required plant modifications are projected to cost approximately USD $3 million. The implementation will occur in stages, with an initial budget of USD $1 million. Initial funding for the project will be by debt, on terms to be finalized, provided by Company Chairman and Director Eduardo Luna, alongside a company affiliated with Rochester’s President, Nick DeMare.
ON BEHALF OF THE BOARD
“Nick DeMare”
CEO and Director Tel: 604.685.9316
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 release.