Gold Recoveries Improve to 93% from
90%
Copper Recoveries Improve to 91% from
88%
VANCOUVER, Sept. 21, 2016 /CNW/ - Bellhaven Copper
& Gold Inc. (TSX-Venture: BHV) ("Bellhaven" or the
"Company") is pleased to announce the results from the desktop
optimization study (the "Study") completed by InterPro Development
Inc. ("InterPro") (Lakewood,
Colorado) highlighting the potential for improved gold and
copper recoveries for the Company's 100%-controlled La Mina
Project, Colombia ("La
Mina"). The Study results show the potential for 93% gold
extraction and 91% copper extraction compared to lower values of
90% and 88%, respectively, incorporated in the 2013 preliminary
economic assessment (the "PEA").
Dr. Paul Zweng, Bellhaven's
CEO and Chairman, commented as follows:
"These incremental improvements in the gold and copper
recoveries are positive for the potential of our flagship La Mina
project as higher recoveries should yield higher metal
production. These results also help to de-risk the project as
metallurgical issues all too often plague mineral projects.
We look forward to verifying these results by conducting
large-scale locked-cycle metallurgical testing as we move La Mina
forward."
Metallurgical Optimization Study
Bellhaven engaged Research Development Inc. (Denver, Colorado) to conduct the initial
metallurgical test work for the La Cantera and Middle Zone
prospects at La Mina. The study determined that favorable
recoveries of metals could be gained by deploying standard milling
and flotation practices to produce a marketable gold-, silver-, and
copper-bearing concentrate. These metallurgical test results
were summarized in a news release dated November 15, 2011 and formed the basis for
incorporating metallurgical recoveries of 90% for gold and 88% for
copper shown in Table 15.3 of the 2013 PEA for La Mina (see SEDAR
filing dated November 7, 2013).
It was realized after the conclusion of the PEA that
opportunities existed to enhance potential gold recoveries by (1)
direct cyanide leaching of the second cleaner tails, (2) ultrafine
grinding of the second cleaner tails followed by cyanide leaching,
(3) bioleaching of the second cleaner tails followed by cyanide
leaching, and (4) further refining of the flotation process without
the use of cyanide. The fourth option was particularly
intriguing because it offered the possibility for increasing both
gold and copper recoveries and doing so without deploying
cyanide. The Study reviewed the four options on a preliminary
basis and did not undertake additional metallurgical test work.
After conducting its investigation of the four options outlined
above, InterPro determined that gold recoveries could be increased
through the cyanide leaching of the second cleaner tails (Options
1, 2, and 3). Examination of Option 4 (further refining
of the flotation process without the use of cyanide) determined
that both gold and copper recoveries could be increased by adding a
scavenger circuit after the rougher flotation cells to treat the
rougher tails (where gold and copper are lost). The scavenger
concentrate would then be piped to the cleaner flotation
cells. Following the cleaner flotation process (where gold
and copper are also lost), the cleaner flotation tails would then
be routed to a re-grinding circuit to liberate additional gold- and
copper-bearing sulfide minerals, which would again be passed back
to the rougher flotation circuit. Option 4 essentially adds
additional flotation time and more grinding to the overall
processing plan. The addition of these steps to the process
should increase the copper recovery from 88% (as used in the PEA)
to 91% and increase the gold recovery from 90% (as used in the PEA)
to 93%. InterPro is of the opinion that these recoveries can
be incorporated into a future, updated NI 43-101 resource estimate
and PEA for the La Mina project. Two significant impacts of
Option 4 elevating gold and copper recoveries are (1) no cyanide
will be required to attain additional gold or copper recoveries,
and (2) little additional capital will be required to the
processing plant outlined in the 2013 PEA.
The scientific and technical information in this news release
was prepared under the supervision of Mr. Thomas J. Drown, P.Geo. Mr. Drown has more
than 25 years relevant experience and is a British Colombia
Professional Geoscientist. He has been a senior project
geologist with the Company at the La Mina Project and serves as the
qualified person as defined by National Instrument 43-101.
Mr. Gregory Chlumsky,
Principal for InterPro, and a Qualified Person as defined by NI
43-101, has reviewed and approved the process and economic
information contained in this release.
About Bellhaven
Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX-V:
BHV) exploration company exploring for gold and copper in
Colombia. The Company's goal is to be a leader in gold and
copper development in Colombia. Bellhaven focuses on
discovery, acquisition and development of high-quality resources in
a safe and responsible manner for the benefit of all of its
stakeholders.The Company's flagship project is the La Mina
gold-(copper) porphyry deposit in the Middle Cauca belt of
Colombia. The Company is currently
seeking to develop and to grow these resources through mine
development and through ongoing exploration on the La Mina
concession. For more information regarding Bellhaven, please
visit our website at www.bellhavencg.com.
On behalf of the board of directors,
Dr. Paul L. Zweng
BELLHAVEN COPPER & GOLD INC.
Statements in this press release, other than purely
historical information, including statements relating to the
Company's future plans and objectives or expected results, may
include forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to all
of the risks and uncertainties inherent in resource exploration and
development. As a result, actual results may vary materially
from those described in the forward-looking statements.
Gold equivalent grades have been calculated using the
following formula: AuEq = Au(g/t) + [Cu(%)} x {%Recoverable
Cu / %Recoverable Au} x {Net Cu Price/Net Au Price} x {%Payable Cu
/ %Payable Au x 22.0462 x 31.1035]. Metal recoveries are
estimates based on metallurgical results announced in Bellhaven's
news release dated Nov. 15,
2011. Net metal prices for gold and copper are the long-term
forward curve metal price minus refining charge. Metal prices
based on the long-term forward curve are as of May 8, 2013 (US$1482 for gold and $3.40/lb for copper). Metal refinery
charges and % payable metal by the smelter are estimates based on
third-party consultants. Metal prices, refinery charges and %
payable metal are not constant and are subject to change.
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. There is no certainty that
all or any part of the mineral resources will be converted into
mineral reserves.
The PEA is preliminary in nature as it includes inferred
mineral resources that are considered too speculative geologically
to have the economic considerations applied to them that would
enable them to be categorized as mineral reserves, and there is no
certainty that the preliminary economic assessment will be
realized.
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.
SOURCE Bellhaven Copper & Gold Inc.