Metallurgy Results Support In-Situ Recovery at Excelsior's Gunnison Project
09 Novembre 2011 - 2:30PM
Marketwired
Excelsior Mining Corp. (TSX
VENTURE:MIN)(OTCQX:EXMGF)(FRANKFURT:3XS) ("Excelsior") is pleased
to announceresults from the initial metallurgical tests on the 100%
owned North Star Deposit of the Gunnison Copper Project, located in
southern Arizona. Initialcolumn leach tests indicated that acid
consumption and copper recovery at North Star will support in-situ
recovery ("ISR") mining.
"We are very pleased that the results from the recent test work
confirm our view that the recovery rate and acid consumptions are
favorable for ISR mining of the North Star deposit," says Stephen
Twyerould, President and CEO of Excelsior. "These results, as well
as the encouraging hydrological testing completed last month, will
be used to complete our Preliminary Economic Assessment expected
later this year."
The North Star Deposit currently contains an indicated oxide
copper resource of 3.21 billion pounds (511 million tons at 0.31%
copper) and an additional inferred oxide copper resource of 0.88
billion pounds (159 million tons at 0.28% copper).
Metallurgical Details
The metallurgical tests involved loading 6-inch diameter clear
PVC pipe with three representative samples from the North Star
deposit and leaching them with a dilute sulfuric acid solution for
164 days. The three samples were from the Martin formation (Met 1:
high acid consumer), Upper Abrigo (Met 2: moderate acid consumer)
and Lower Abrigo (Met 3: low acid consumer). The Martin formation
sample is representative of the higher acid consuming rocks that
make up approximately 50% of the mineralization; whereas, the
Abrigo samples are representative of the lower acid consuming rocks
(making up the remaining 50% of the mineralization). Given that the
copper mineralization is essentially all chrysocolla and other
silicates occurring on natural fracture planes and surfaces, the
core fragments of the higher acid consuming rocks were epoxy-coated
to seal off any unnatural surfaces and fractures created by
drilling and core handling.
The results indicate that within the fractured oxide copper
zone, approximately 65% to 80% of the copper will dissolve if
contacted by dilute sulfuric acid solutions at a pH of
approximately 1.5. These results are consistent with typical
metallurgical recoveries of copper oxide deposits in the
southwestern USA and northern Mexico. These results represent
metallurgical recovery and not overall copper recovery, which is
expected to be in the range of 40% to 50%, as is typical of
ISR-based mining operations.
Estimates for acid consumption in terms of pounds of acid
consumed per pound of copper recovered (lb/lb) were also completed
for the recent test work. The results for each sample are as
follows; Met 1, 8.9 lb/lb; Met 2, 5.0 lb/lb; and Met 3, 3.9 lb/lb.
These results were very encouraging and generally superior to
historical results, further demonstrating the potential for the
Gunnison Project to become a low-cost copper producer.
The results of the recent metallurgical test work will be
combined with historical test work and other important data to
complete a Preliminary Economic Assessment on the North Star
deposit scheduled to be completed later this year.
Hazen Research, Inc. of Golden, Colorado ("Hazen"), an
independent contractor, conducted the metallurgical test work.Mr.
Brian Cooper, Project Manager for Hazen Research, directly
supervised the testing.The results of the Hazen tests, together
with the historical test work were reviewed by Dr. Terry McNulty,
President of T.P. McNulty and Associates, Inc. Both Mr. Cooper and
Dr. McNulty are independent of Excelsior. Excelsior's exploration
work on the Gunnison Property is supervised by Dr. Stephen
Twyerould, Fellow of AUSIMM, President and CEO of Excelsior, and a
Qualified Person as defined by NI 43-101. Dr. Twyerould has
reviewed and approved the technical information disclosed in this
news release.
About Excelsior
Excelsior is an exploration and development company with a
copper project located within the copper porphyry belt of Arizona.
The Gunnison Copper Project is located close to the required
infrastructure and its oxide resource has the potential to be mined
using in-situ recovery methods. The Excelsior team consists of
experienced professionals with proven track recordsof advancing
projects towards production.
Further details about Excelsior can be found at:
http://www.excelsiormining.com. Further information about the
Gunnison Copper Project can be found in the technical report filed
on SEDAR at www.sedar.com entitled: Gunnison Copper Project,
Cochise County, Arizona, USA, Mineral Resource of the North Star
Deposit dated August 31, 2011, as revised October 25, 2011.
ON BEHALF OF THE EXCELSIOR BOARD
Stephen Twyerould, President & CEO
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release may involve
forward-looking statements under applicable securities laws.
Forward-looking statements are statements that relate to future,
not past, events. In this context, forward-looking statements often
address expected future business and financial performance, and
often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or
event "may", "might", "could", "should", or "will" be taken or
occur, or other similar expressions. All statements, other than
statements of historical fact, included herein including, without
limitation; statements about the timing of the Preliminary Economic
Assessment, the Gunnison Project becoming a low cost copper
producer, future exploration on and the development of the Gunnison
Project and the ability to mine Gunnison using in-situ recovery
mining techniques are forward-looking statements. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the following
risks: the need for additional financing; operational risks
associated with mineral exploration;fluctuations in commodity
prices; title matters; environmental liability claims and
insurance; reliance on key personnel; the potential for conflicts
of interest among certain officers, directors or promoters with
certain other projects; the absence of dividends; competition;
dilution; the volatility of our common share price and volume and
the additional risks identified in the management discussion and
analysis section of our interim and most recent annual financial
statements or other reports and filings with the TSX Venture
Exchange and applicable Canadian securities regulations.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date that statements are made and the
company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable
securities laws. Investors are cautioned against attributing undue
certainty to forward-looking statements.
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, and no securities regulatory authority
has either approved or disapproved of the contents of this
release.
Contacts: Excelsior Mining Corp. JJ Jennex Vice President,
Corporate Affairs 604-681-8030 x240 604-681-8039
(FAX)info@excelsiormining.comwww.excelsiormining.com
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