TO ALL :
Toronto, February 13, 1997 -- International Precious Metals Corporation (IPM) announced today that the bulk
sample recovery program, currently underway at an independent research facility, revealed that additional
precious metals liberation is likely to be achieved by the application of a finer particle grind. It was at the
scale-up stage to the 250-kilogram tests, that the research lab recognized possible increases in recovery
(beneficiation) after performing confirmation tests. Consistent with their program, the research lab
recommended and requested a program extension of three weeks to provide adequate time for the delivery and
installation of the high efficiency pulverization equipment required to accomplish the additional economic
benefit. In response the company requested the speediest delivery of the equipment necessary to implement
the process modifications.
In its weekly summary to IPM the lab also reported a very favorable outcome on the final mid-sized samples of
30 kilograms, achieving 0.25+ oz/ton gold recovery, the same as the 150 gram bench scale tests. This completes
the first phase test reports.
In order to include the additional precious metals recovery into the defined resource calculations, IPM has
approved the lab's request for the extension. Accordingly, the company has instructed its mining engineering
consultants, Behre Dolbear & Co., Inc., to plan for their bulk sample tests during the week of March 11th.
Additionally, IPM has asked Behre Dolbear to begin a two-phase program to determine the mining costs for its
BRX (Black Rock Exploration) project. The basis for the studies is the first 1-sq/km grid that was drilled to a
depth of 30 meters. The studies include an 'Order of Cost Estimate' and a more detailed, 'Preliminary
Engineering Report for Mining BRX'. |
