-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, O3xn1z7ikgCB05TcpGkXXlDFNy++y1a83LPRbPYm5EpPPGui4bho58qghSjXh2TK JqffGFtWIiwZROVy1pl8Fg== 0001137171-05-000572.txt : 20050414 0001137171-05-000572.hdr.sgml : 20050414 20050414162348 ACCESSION NUMBER: 0001137171-05-000572 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050413 FILED AS OF DATE: 20050414 DATE AS OF CHANGE: 20050414 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QUEENSTAKE RESOURCES LTD CENTRAL INDEX KEY: 0000904121 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 000000000 STATE OF INCORPORATION: B0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32368 FILM NUMBER: 05751099 BUSINESS ADDRESS: STREET 1: SUITE 2940 STREET 2: 999 18TH STREET CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 303-297-1557 MAIL ADDRESS: STREET 1: SUITE 2940 STREET 2: 999 18TH STREET CITY: DENVER STATE: CO ZIP: 80202 6-K 1 queenstake1.htm Filed by Filing Services Canada Inc.  403-717-3898




UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


Form 6-K


REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE 

SECURITIES EXCHANGE ACT OF 1934



For the month

April 2005


Commission File Number

0-24096

 


QUEENSTAKE RESOURCES LTD.

 

999 18th Street, Suite 2940, Denver, CO 80202

(Address of principal executive office)



(indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40 F.

Form 20-F  [X]   Form 40 F  [  ]


Indicate by check mark whether by furnishing the information contained in this Form the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.  

Yes [  ]        No    [X]


(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

 


DOCUMENTS FILED:

Press Release NR2005-14 April 14, 2005

DESCRIPTION:  

Queenstake Provides Mine Production, Mill Update, and Near-Mine Exploration Drilling Results from Jerritt Canyon






SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


 


 

                      QUEENSTAKE RESOURCES LTD.                   

                                        (Registrant)

Date April 14, 2005

By                         “Dorian L. Nicol”” (signed)                      

                                        (Signature)

 

Dorian L. Nicol, President & CEO

     







 

 


 

News Release 2005-14

                 April 14, 2005


TSX – QRL; AMEX – QEE  – Queenstake Resources Ltd.

SEC file number 0-24096


Queenstake Provides Mine Production, Mill Update, and Near-Mine Exploration Drilling 

Results from Jerritt Canyon


Denver, Colorado – April 14, 2005 – Queenstake Resources Ltd. (TSX:QRL, AMEX:QEE) (the “Company”) updates mine production, mill improvements, and underground drilling activities in its near-mine exploration program at Jerritt Canyon, Nevada.  


Queenstake President and Chief Executive Officer Dorian (Dusty) Nicol said: “We are beginning to see the benefits from capital investment made by Queenstake in mill upgrades and underground development.  The increased mill throughput is the result of many creative modifications made by the staff and we are confident that these modifications will help us reduce unit cash costs below 2004 levels.  The mine staff continues underground development of the Steer and Mahala ore bodies and the connection between Steer and SSX, discovering new ore as it progresses. We are proud of our entire staff at Jerritt Canyon, who have exceeded 1.4 million man-hours worked without a lost time accident.”


Mine Operations

Development at the Steer Mine has restarted and is proceeding well.  The 1,800 foot drift connecting Steer with the SSX Mine is in progress from both ends, with completion scheduled for early August 2005.  The connection will provide ventilation and a secondary escapeway for Steer, thus permitting full commercial production.  Once the mines are connected there will be increased efficiencies in production and maintenance.   The drift will also provide drill stations for additional underground exploration.   


Development at Mahala is progressing and incidental ore (ore that is encountered during development) is being processed at the mill.  Closely spaced definition drilling has confirmed, and may improve, reserve grades at Mahala.  


SSX production in March was 68,537 tons of ore, beating the previous monthly record by 16%.  SSX production provided 63% of the total March gold production from Jerritt Canyon.


Mill Improvements

We are seeing the benefit of process improvements that were made to the milling facility during 2004.  All ore is dried to less than 1% moisture before roasting and therefore a dependable and efficient ore drying system is essential to sustain ore throughput, especially during the winter months when there is high moisture due to snowfall.  To increase throughput and capacity in the drying circuit the ore-dryer burner barrel was coated with a ceramic refractory, an airslide system was installed on the ore dryer bag-house, a high strength conveyor belt was installed on the dryer feed, and a heat duct from the dryer burner box to the dryer feed chute was installed.  The secondary cone crusher was completely replaced with a new unit which has greatly reduced down time in the crushing circuit.  Overall, mill throughput in the first quarter of 2005 has increased 7% over the first quarter of 2004.


Near-Mine Exploration

During the week of April 18, two underground core drills will be added to the one currently on site.  In addition, two contract underground reverse circulation (RC) drills are at Jerritt Canyon, as well as two RC drills owned by the Company.   The ongoing drill programs include exploration at the Smith, Mahala, Steer, and SSX Mines, and infill drilling at Murray Zone 7, Mahala, and Steer Mines.  Results from the SSX program have identified new mineralization in Zone 1 associated with a northeasterly fault; follow-



1








up drilling is pending. In SSX Zone 5, the drift that will connect SSX to Steer crossed a strongly mineralized dike in the northwest extension of the South Boundary Fault.  Truck samples of the last 22 feet of the drift averaged 0.530 ounces per ton of gold (opt); a drill platform will be set up as the drift progresses so that follow-up drilling can be done in May.  Mineralization along and within the South Boundary Fault has comprised much of SSX production from Zones 2, 3, and 6.    


Between February 1 and April 8, a total of 21,940 feet in 221 underground RC holes were completed.   The Table below lists assays greater than 0.250 opt over 10 or more feet at SSX.  Results reported in this news release are from outside the Measured and Indicated Resource envelope at December 31, 2004 as defined in the Company’s 43-101 Technical Report filed on February 23. 2005.  These intercepts thus represent incremental additions to identified gold mineralization.   A complete set of data and maps from which the selected drill results were taken is available as an “Appendix” on the Company’s website, www.queenstake.com.


   SSX Mine

Hole #

Az

(degrees)

Dip

(degrees)

Total Depth

(feet)

From

(feet)

To

(feet)

Length

(feet)

Grade

(opt)

Zone

Drill Type

S10036

310

+25

65

5

15

10

0.356

1

RC

and

310

+25

65

30

45

15

0.286

1

RC

S10037

310

+5

60

20

50

30

0.300

1

RC

S10038

310

-15

100

0

30

30

0.386

1

RC

S10039

310

-60

80

5

15

10

0.463

1

RC

and

310

-60

80

80

95

15

0.472

1

RC

S10041

130

-60

80

0

15

15

0.302

1

RC

S10050

130

-70

150

5

45

40

0.553

1

RC

S10060

130

+30

50

0

40

40

0.287

1

RC

S10061

130

0

175

105

130

25

0.256

1

RC

S10070

180

-2

120

0

10

10

0.263

1

RC

and

180

-2

120

30

45

15

0.320

1

RC

S10071

180

-18

95

10

30

20

0.278

1

RC

and

180

-18

95

40

60

20

0.279

1

RC

S10072

180

-60

100

45

55

10

0.254

1

RC

S50008

293

-2

200

105

170

65

0.377

5

RC

S50013

77

-10

200

135

145

10

0.543

5

RC

S50021

257

-30

100

55

65

10

0.298

5

RC

S50024

257

-8

220

165

175

10

0.314

5

RC

S50029

257

-7

200

45

135

90

0.273

5

RC

S50030

257

-15

200

95

120

25

0.329

5

RC

S50032

257

-60

60

25

45

20

0.541

5

RC

Z13039

180

+5

120

45

55

10

0.271

1

RC

Z13040

180

-15

100

85

95

10

0.824

1

RC

Z13041

180

-35

110

85

95

10

0.571

1

RC

Z13042

180

+35

110

100

110

10

0.253

1

RC

Z13044

180

-5

110

25

50

25

0.629

1

RC

Z13050

0

-45

90

35

45

10

0.369

1

RC

Z13051

0

-80

70

25

40

15

0.415

1

RC

Z13070

0

-90

30

0

10

10

0.281

1

RC

Z13071

0

-90

30

10

20

10

0.342

1

RC



2









Hole #

Az

(degrees)

Dip

(degrees)

Total Depth

(feet)

From

(feet)

To

(feet)

Length

(feet)

Grade

(opt)

Zone

Drill Type

Z13072

36

+40

50

0

20

20

0.367

1

RC

Z13074

36

0

150

30

45

15

0.265

1

RC

Z13075

36

+40

75

30

40

10

0.498

1

RC

Z50295

180

-5

200

100

110

10

0.253

5

RC

Z50316

180

-90

125

50

70

20

0.296

5

RC

Z50321

0

-90

75

10

30

20

0.272

5

RC

Z50323

77

0

200

115

125

10

0.281

5

RC

Z50326

77

+30

200

70

80

10

0.348

5

RC

Z50327

77

+12

200

130

140

10

0.263

5

RC

Z50332

77

+30

200

80

100

20

0.368

5

RC

Z50340

77

+10

200

100

120

20

0.325

5

RC

Z50367

150

-45

40

15

25

10

0.426

5

RC

Z50369

0

-90

40

0

10

10

0.592

5

RC

and

0

-90

40

15

30

15

0.561

5

RC

Z50370

150

+45

100

0

5

5

1.183

5

RC

and

150

+45

100

10

15

5

0.278

5

RC

and

150

+45

100

70

100

30

1.046

5

RC

Z50372

0

-90

30

10

20

10

0.327

5

RC

Z50383

0

-90

40

0

40

40

0.272

5

RC

Z50384

150

-75

50

5

30

25

0.287

5

RC

Z50385

0

-90

40

5

40

35

0.301

5

RC

Z50387

0

-90

40

20

30

10

0.256

5

RC

Z50388

0

-90

40

0

10

10

0.527

5

RC

and

0

-90

40

15

25

15

0.476

5

RC



At the Murray Mine, an underground drilling program is underway to further delineate the Zone 7 reserves.  At the end of December 2004, Zone 7 reserves were estimated to be 43,400 tons at a grade of 0.266 opt, containing 11,500 ounces of gold.  The drill program consists of 5,000 feet of RC drilling (26 holes) and 4,200 feet of core drilling (16 holes) and is scheduled to be completed by the end of April.  The drift to Zone 7 is in progress and full production will begin from this zone in June.   



Queenstake Resources Ltd. is a gold mining and exploration company based in Denver, Colorado.  Its principal asset is the Jerritt Canyon District in Nevada, acquired in June 2003.  The Jerritt Canyon District consists of four underground mines, a 1.5 million ton per year capacity processing facility and a 100 square mile land package that represents some of the most exciting gold exploration ground in Nevada.  Jerritt Canyon has produced more than 7,000,000 ounces of gold since 1981. 




3






 

For further information call:

John Haigh 303-297-1557 ext. 105

800-276-6070

Email – info@queenstake.com web – www.queenstake.com


Forward-Looking Statements – This news release contains “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included in this release, and Queenstake’s future plans are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.  Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Queenstake does not undertake any obligation to update forward-looking statements should conditions or management’s estimates or opinions change.


The Toronto Stock Exchange has neither reviewed nor accepts responsibility

for the adequacy or accuracy of this release.


 

 

4




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