DGAP-News: Excelsior Mining Corp. Commences Hydrological Program
(firmenpresse) - DGAP-News: Excelsior Mining Corp. / Key word(s): Miscellaneous
Excelsior Mining Corp. Commences Hydrological Program
25.05.2011 / 14:32
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Excelsior Mining Corp. (TSX-V: MIN) (OTCQX: EXMGF) (Frankfurt: 3XS)
('Excelsior') is pleased to announce the commencement of the initial
hydrological test work on the Gunnison Copper Property located within the
copper porphyry belt in southern Arizona. The program has been designed to
determine the permeability of the mineralization and to confirm previous
results that demonstrate that Gunnison can be mined using in-situ recovery
(ISR) techniques.
The hydrological program will consist of drilling two holes up to 1200 feet
deep within the North Star deposit to supplement the two historical
hydrological holes drilled by Magma Copper Corporation in the mid 1990's
that gave encouraging results. This program will take several weeks to
complete and will include geophysical logging, pump testing, water sampling
and other tests to determine permeability and flow rates. This data will be
combined with new metallurgical data (expected in late July) and the
results from recent drilling to complete a Preliminary Economic Assessment
expected in the third quarter of 2011.
'Hydrology is a key component of ISR,' says Stephen Twyerould, President
and CEO of Excelsior. 'We look forward to the results of this program and
being able to show the investment community that ISR is a viable process.'
Gunnison currently contains a National Instrument (NI) 43-101 compliant
inferred resource of 4.77 billion pounds of copper (787 million tons at
0.30% copper) which remains open for expansion (see news release dated
November 2, 2010). An upgraded resource estimate is expected at the end of
the second quarter of 2011.
Excelsior's exploration work on the Gunnison Property is supervised by
Stephen Twyerould, Fellow of AUSIMM, President and CEO of Excelsior and a
Qualified Person as defined by NI 43-101. Mr. Twyerould has reviewed and
is responsible for the technical information contained 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 with its
in-situ recovery potential, is intended for near-term production. The
Excelsior team consists of experienced professionals with proven track
records of 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 and South Star Deposits dated June
2010.
ON BEHALF OF THE EXCELSIOR BOARD
'Stephen Twyerould'
President&CEO
T: +1 604-681-8030
F: +1 604-681-8039
www.excelsiormining.com
Renmark Financial Communications Inc.
Barry Mire: bmire(at)renmarkfinancial.com
Lyane Bourassa: lbourassa(at)renmarkfinancial.com
Tel.: +1 (514) 939-3989 or +1 (416) 644-2020
www.renmarkfinancial.com
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 thiscontext,
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 for the upgraded resource estimate, expansion
of the resource estimate, the potential to use in-situ recovery methods and
the production potential of the Gunnison Copper Project 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 the management discussion and analysis section of our
interim and most recent annual financial statement 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
Excelsior 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.
End of Corporate News
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126175 25.05.2011
Datum: 25.05.2011 - 14:32 Uhr
Sprache: Deutsch
News-ID 34202
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