Ecuador Gold to Undertake Additional Metallurgical Testwork & Mining Optimization for Santa Barbara Preliminary Economic Asse...
29 May 2014 - 10:30PM
Marketwired
Ecuador Gold to Undertake Additional Metallurgical Testwork and
Mining Optimization for Santa Barbara Preliminary Economic
Assessment
TORONTO, ONTARIO--(Marketwired - May 29, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Ecuador Gold & Copper Corp. (TSX-VENTURE:EGX) (the "Company"
or "EGX") announces that the Company's Consulting Engineers, GBM
Minerals Engineering Limited ("GBM") who are currently undertaking
a 43-101 Preliminary Economic Assessment Technical Report ("PEA")
on the Company's flagship Santa Barbara Project, have recommended
that additional metallurgical test work be undertaken to establish
a metallurgical flow sheet that will produce a saleable copper
concentrate and further optimization of the mine plan based on this
metallurgical test work.
The Company expects that this additional metallurgical test work
and mine optimization will enhance the overall economic viability
of the Santa Barbara Project.
Preliminary Metallurgical Test work and Recoveries to Date
Metallurgical test work to date using 'whole ore' cyanide
leaching and a two stage flotation process has resulted in an 86%
recovery of gold and a 64% recovery of copper.
Further Metallurgical Test Work
GBM have recommended that additional metallurgical test work and
flow sheet optimization which incorporates alternative flotation
reagents, fine grinding, and possibly a hydrometallurgical process
be undertaken that could result in a copper concentrate and gold
doré being produced at the mine site.
Mine Optimization
GBM have further recommended that based on the anticipated
improved recoveries and the production of an upgraded copper
concentrate, that the mine plan and processing rate be optimized to
establish a lower capital cost alternative, which will improve the
overall economic return and viability of the Santa Barbara
Project.
Enhanced Economics and Viability
The Company aims to achieve the maximum extraction of all metals
from its mineral resources through optimized metallurgical
recoveries into saleable products that are produced from the most
optimal mine plan from this mineral resource. The Company expects
that this additional metallurgical test work and mine throughput
optimization will enhance the overall economic viability of the
Santa Barbara Project.
Qualified Person
Mit Tilkov, P.Geo., Vice-President Exploration of Ecuador Gold
and Copper Corp. is a qualified person, as defined by National
Instrument 43-101 ("NI 43-101"), and is responsible for the
preparation of the technical information in this news release.
Cautionary Note
The Company has not completed a preliminary economic assessment
or feasibility study of the Condor Gold and Copper Project under NI
43-101, and there is no assurance that the exploration and
subsequent development operations of the Condor Gold and Copper
Project will be economically or technically viable.
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.
CHF Investor RelationsJeanny So(416)
868-1079jeanny@chfir.comEcuador Gold & Copper Corp.Glenn
LaingPresident and CEO(647)
865-3101glaing@ecuadorgoldandcopper.com
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