CORRECTION FROM SOURCE:
In the release previous, there was a change in the 6th paragraph's
last sentence. The complete and corrected release follows..
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: MILLSTREAM MINES LTD.
29,608,043 shares issued
CANADIAN DEALING NETWORK SYMBOL: MLSM
FEBRUARY 7, 2000
New Technologies Could Access $22,600,000 For Millstream
>From Its Potter Mine Tailings
TORONTO, ONTARIO--Millstream Mines Ltd. announces it has received
very favourable laboratory test results regarding metal recovery
from its Potter Property Mill tailings. A proprietory
electro-chemical leaching process confirmed that sulphide minerals
in the tailings can be selectively oxidized by electro-chemistry
manipulation for segregated recovery.
Millstream has drilled, sampled and assayed the tailings
confirming a calculated average grade at 0.2% copper, 1.5% zinc
and 0.05% cobalt contained within 480,000 tons from past milling
operations. This potential asset has an in situ metal value based
on current marked prices for copper @ US $0.83/lb, zinc @ US
$0.50/lb and cobalt @ US $14.25/lb equal to CDN $ 22,600,000
(using 1.45 CDN conversion factor).
Ernest Harrison, president of Millstream states, "Millstream over
past years has been investigating the possibility of extracting
metals of interest (copper, zinc, cobalt) contained in the
existing tailings on site". Millstream assigned this task to
Harrison Environmental Services Inc. ("HESI") of North Bay,
Ontario. HESI teamed up with Enpar Technologies Inc., ("Enpar")
of Guelph, Ontario and over the past two (2) years carried out
experiments and laboratory tests with very encouraging results.
In addition, HESI has been involved with an American firm with
expertise, in engineering and manufacturing fluid treatment
systems for removal of toxic contaminants, through the application
of both Membrane and Bio-Bead Technology. Enpar is a technology
company with proprietary and patented Electrochemical Technology
applicable to sulphide tailings. Enpar's Electro-Chemical Quik
Leach Technology (patent pending) enhances leaching rates of
low-grade sulphide waste materials.
Based on the favourable laboratory results a Site Pilot Plant Test
program is planned to exploit this innovative technological
approach to metal recovery. Enpar's Electro-chemical Quik Leach
process combined with a Membrane System to concentrate the metal
ions for selective electro-winning or precipitation will be
implemented. The Pilot Plant operation will establish datum for
design and valuation for commercial application such as; power
voltages, anode and cathode structure, pH and redox (Eh) values,
fluid flow rates, weather condition impact, etc.
Upon the success with the Site Pilot Plant an enlarged capacity
commercial operation would be installed to process the tailings.
Millstream is negotiating an overriding royalty of the metal
values recovered to HESI and Enpar for use of the technology.
Millstream management believes that adding the electro-chemical
and membrane technology to a conventional milling circuit could
conceivably enhance and increase the sale value of material
produced by the mill. This would increase the viability of
marginal ore grade operations and dramatically increase
profitability (bottom line) of most operations. Millstream's
Potter Property would be directly impacted with substantial
increases in its projected calculated revenues in a feasibility
report.
Millstream with HESI is actively sourcing funding to perform the
Site Pilot Plant Test estimated at $600,000 and believes that its
efforts in this endeavor will result in the maximization of value
for Shareholders.
This press release contains certain "forward-looking statements",
as defined in the United States Private Securities Litigation
Reform Act of 1995, that involve a number of risks and
uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
The principal objective of Millstream Mines Ltd. is to enhance and
develop known mineral properties to production potential.
No regulatory authority or similar body approved nor disapproved
the information contained herein.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Mr. Ernest Harrison, EM
Mr. Marty Martinello, B.A.
Phone: 705-474-7282
Fax: 705-474-5491
or
Mr. Peter H. Brodie Brown
Mr. Robert Chase, B.A.
Phone: 416-368-9595
Fax: 416-368-0584
Email: mlsm@passport.ca
Website: www.millstreammines.com
INDUSTRY: MNG
SUBJECT: NWS |
