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Mundo Minerals aiming for gold at Crista within months

Last updated: 20:04 11 Feb 2010 EST, First published: 19:04 11 Feb 2010 EST

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Mundo Minerals Ltd (ASX:MUN) has reported on progress towards starting production at its Brazil Crista deposit, and the next stage of the Peru Torrecillas project.

Mundo has a number of medium sized gold projects in South America. Currently, the first production asset, Crista is moving toward production in Brazil and one in Peru.

Drilling at Crista has been completed, the company aims to bring Crista into production by mid-2010.

A pending rights issue will be partly used to upgrade infrastructure to increase production profile at Crista to 46,000 ounces per annum.

A project coordinator has been appointed and is currently managing development progress, ensuring all timeframes and budgets are achieved.

All environmental studies are completed and no issues are anticipated in gaining all necessary approvals.

Land owner agreements are completed and the land owners are attending to any regulatory issues they need to with the relevant authorities to allow access to the land.

Approvals have been agreed for the waste dump with the relevant land owner and final administrative processes are being completed.

Metallurgical test work has been completed and work has commenced on the pit optimization.

Design work for the new ball mill, tankage, gravity circuit etc has been completed and an appropriate second hand mill has been identified.

Final inspections and tests are being completed before a decision is made to acquire the unit.  Initial discussions have commenced with potential mining  contractors.

At the Torrecillas Project in Peru, initial work has begun to test the 5 Noviembre and Torre Chico veins.

Access to 5 Novembiere is expected to be completed in two weeks. Extension work on the vein structure is to commence in the last week of February.

Access work to Torre Chico is expected to be completed in late February, with extension work to commence in early March.

Initial scoping studies by independent consultants have been completed.

Environmental and metallurgical studies have commenced. No environmental issues are anticipated. Tests regarding appropriate ore sorting techniques will commence in Europe in the next two weeks.

The Torrecillas project in Peru has increased production to determine any degradation of grade as result of increased productivity.

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