THEMAC Resources Announces a Design Milling Rate Increase up to 25,000 TPD at Copper Flat
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/20/12 -- THEMAC Resources Group Limited (TSX VENTURE: MAC) ("THEMAC" or the "Company") today announced that the ongoing metallurgical testing program being conducted in connection with the preparation of the preliminary feasibility study for the Copper Flat Property, has confirmed an enhanced processing plant size based upon existing plant infrastructure and ore characteristics. The test work, being conducted at the directive of Tucson-based M3 Engineering and Technology Corporation, has also presented encouraging results in the area of optimized copper, molybdenum and gold recoveries.
Highlights:
"Initial metallurgical test work results for Copper Flat are very exciting," said Andre J. Douchane, CEO. "Increasing design throughput from 17,500 tpd, from our June 2010 PEA, to 25,000 tpd, while keeping the same mill foundation footprint, is a real win for the project. This potential increase in throughput will impact the project's payback of capital expenditures and profitability in a very positive way. The enhanced gold recovery potential seen in these test results is also very encouraging, leading us to believe that gold will be a major contributor to the project's economics."
The continuing metallurgical test work is scheduled to be completed during second quarter of 2012, in time to be included in the Copper Flat prefeasibility study.
About THEMAC Resources Group Limited
THEMAC is a copper development company with a strong management team and as of May 18, 2011, a 100% ownership interest in the Copper Flat copper-molybdenum-gold-silver project in New Mexico, USA. We are committed to bringing the closed copper mine, Copper Flat, in Sierra County, New Mexico back into production with innovation and a sustainable approach to mining development and production, local economic opportunities and the best reclamation practices for our unique environment. The Company is listed on the TSX Venture Exchange (ticker: MAC) and has issued share capital of 74,117,622 common shares (fully diluted share capital 136,423,241).
For more information please visit or review the Company's filings on SEDAR ().
Forward Looking Statements
This news release may contain certain information that constitutes forward-looking statements. Forward-looking information and statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including statements regarding: the expected throughput capacity of the mill and the effect that will have on payback and profitability; expected enhanced recoveries of copper, gold and silver based on test results; and timing of completion of test work. The forward-looking information and statements made in this press release are based on the opinions and estimates of, and assumptions made by, management at the date the statements are made. Forward-looking information and statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting test results and other geological and technical data, fluctuating metal prices, the ability to obtain necessary permits and approvals the availability of funds to complete work programs and studies, and other factors described above. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management's estimates or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has reviewed, nor do they accept responsibility for the adequacy or accuracy of this release.
Contacts:
THEMAC Resources Group Limited
Andre J. Douchane
Chief Executive Officer
(+1) 416 671 8089 or (+1) 520 850 7529
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Unternehmensinformation / Kurzprofil:
Datum: 20.03.2012 - 11:00 Uhr
Sprache: Deutsch
News-ID 126353
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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