proof of what we already know - the sucker can make money hand over fist one day.
Champion receives Farim metallurgical results
Champion Resources Inc CHL
Shares issued 24,184,440 Apr 24 close $0.71
Tue 25 Apr 2000 News Release
Mr. Michael McInnis reports
Champion Resources has completed its results of metallurgical bench-scale
tests on composite samples of drill core from the Farim phosphate deposit
in Guinea Bissau, West Africa. The test work, which involved simple
screening and flotation processes, has been under way at Bateman
Engineering Ltd. in South Africa since December, 1999. Bateman's program
has shown that a standard-grade, 32-per-cent P2O5 concentrate can be made
with a recovery by weight of 74 per cent of the feed material. The recovery
compares very favourably with the recovery of 60 per cent that initially
was assumed in the base-case financial model of the project. The higher
recovery achieved by Bateman reflects the incorporation of effective
refinements in the proposed process flowsheet and will enhance project
economics significantly.
Mineral Resource Associates (MRA) in Florida conducted separate tests on
equivalent material in an attempt to produce a high-grade phosphate
concentrate, which would command a premium price on world markets. Its
program involved a slightly different procedure than Bateman's and
succeeded in producing a high-grade, 36.9-per-cent P2O5 concentrate, MRA's
results also corroborate the French prefeasibility study completed in 1986,
which was based on the production of a 36.5-per-cent P2O5 concentrate.
The tests demonstrate the capability to produce a range of phosphate
concentrate grades from Farim that could satisfy different market
requirements. Both Bateman's and MRA's concentrates are marketable products
with acceptable levels of impurities and very low cadmium, the latter being
particularly important in fertilizer and animal-feed applications.
Farim is a large sedimentary phosphate deposit containing a measured and
indicated resource of 166 million metric tons grading 29.1-per-cent P2O5.
The project has reached an advanced stage of due diligence with respect to
satisfying the requirements of a project financing from South African
banks. When developed, Farim is designed to reach an annual output of 1.6
million metric tons of phosphate rock.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com |
