DGAP-News: Excelsior Mining Corp.: Metallurgy Results Support In-Situ Recovery at Gunnison Project
(firmenpresse) - DGAP-News: Excelsior Mining Corp. / Key word(s): Miscellaneous
Excelsior Mining Corp.: Metallurgy Results Support In-Situ Recovery at
Gunnison Project
09.11.2011 / 16:24
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Excelsior Mining Corp. (TSX-V: MIN) (Frankfurt: 3XS) (OTCQX: EXMGF)
('Excelsior') is pleased to announce results from the initial metallurgical
tests on the 100% owned North Star Deposit of the Gunnison Copper Project,
located in southern Arizona. Initial column 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 becompleted
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
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 Deposit dated August 31, 2011, as
revised October 25, 2011.
ON BEHALF OF THE EXCELSIOR BOARD
'Stephen Twyerould'
President&CEO
T: +1 604-681-8030
F: +1 604-681-8039
E: info(at)excelsiormining.com
www.excelsiormining.com
For further information regarding this press release, please contact:
Excelsior Mining Corp.
JJ Jennex, Vice President, Corporate Affairs
T: +1 604-681-8030 x240
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.
End of Corporate News
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