VSE Symbol POM.V
SEC File #0-18701
January 11, 1999
NEWS RELEASE
(99-3)
PolyMet Selects Firm for Bioleaching Testwork
PolyMet Mining Corporation is pleased to announce that BACTECH METALLURGICAL SOLUTIONS, LTD. has been selected to conduct Phase 1 of the bioleaching test work on the NorthMet bulk concentrate produced last December. The major objective of this Phase 1 work is to conduct amenability testwork for bioleaching and ferric leaching, together with basic process modeling. The work will be conducted both at Mintek in South Africa and BacTech Australia. Results of Phase 1 testing is anticipated in approximately five months.
In October, 1991 Fluor Daniel Wright, located in Vancouver, estimated a preliminary geologic resource based on a potential open pit
scenario for the NorthMet Project at 808 million tonnes at 0.432% copper, 0.109% nickel, 1.5 grams/tonne silver, 0.061 grams/tonne
gold, 0.437 grams/tonne palladium, and 0.116 grams/tonne platinum. The total preliminary geologic resource is much larger, approaching an estimated 1.45 billion metric tonnes at the following grades: 0.397% copper, 0.094% nickel, 1.3 grams/tonne silver,0.061 grams/tonne gold, 0.445 grams/tonne palladium, and 0.118 grams/tonne platinum.
These preliminary resource estimates were based on the analysis of 102 widely spaced drill holes and 4,200 assays. Significantly more
drilling is required to move these geologic resource estimates into a measured and indicated resource. This drilling program is scheduled to begin around mid-year 1999.
The value of metals contained reported in the press release of January 7, 1999 represented in-situ (in-place) contained metal values for
the preliminary geologic resource and did not reflect capital and operating costs or mineral recoveries associated with the production of a marketable product. As such the company withdraws these numbers from the public domain until such time that a feasibility study is completed.
For further information on PolyMet Mining Corporation or its NorthMet Project, please contact the company headquarters in Golden,
Colorado at (877) 233-4831. You may also visit our web site at www.polymetmining.com.
DONALD W. GENTRY
PRESIDENT & CEO
This news release was prepared by Donald W. Gentry on behalf or PolyMet Mining Corporation which is solely responsible for its contents. The
Vancouver Stock Exchange has neither approved nor disapproved the information herein.
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