Explorator Resources Completes Preliminary Metallurgical Testwork on Copper-Gold Mineralisation From its El Espino Project as Part of the Scoping Stud
Mon Nov 3, 4:05 PM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - Nov. 3, 2008) - Explorator Resources Inc. ("Explorator" or the "Company") (TSX VENTURE: EXO.V) is pleased to announce that it has received preliminary results of metallurgical testing as a part of the scoping study on copper-gold mineralisation at the El Espino Project in Chile.
"We are very encouraged by the favourable results of metallurgical testing completed so far on the El Espino Project. These are being incorporated in the scoping study now in progress and should contribute substantially to the overall future profitability of the project" noted David O'Connor, President and CEO of Explorator Resources.
Bottle roll testing of samples from the oxide resource completed by C.I.M.M. Laboratorios in Santiago, Chile indicate relatively high copper recoveries (94% of the acid soluble copper and 78% of total copper) and moderate acid consumption (35 kg/t).
Drilling in the Portuguesas-Pirata zones of the El Espino Project has shown abnormally high gold contents in the copper-gold mineralisation, (see press release dated October 1, 2008). A study is being done by SGS-Lakefield Laboratories on the possibility of sulphidisation of the oxides to render them amenable to flotation. This would have the benefits of reducing capital cost by eliminating the need for an oxide plant, as well as allowing recoveries of gold associated with the copper.
Grinding and flotation testing of six representative composite samples of sulphide mineralisation are being tested at SGS-Lakefield Laboratories. Based on initial results, recoveries of copper to final marketable concentrate are expected to be in the range of 88 to 90%. Also, preliminary results show recoveries of 78-93% gold. Ongoing testing is being carried out.
The initial NI 43-101 mineral resource estimate on the El Espino part of the deposit, audited by Micon International (see press release dated February 27, 2008) described: (1) oxide mineralization containing 11.1 million tonnes grading 0.63% Cu and 0.17 g/t Au in an indicated category and 11.5 million tonnes grading 0.46% Cu and 0.27 g/t Au in an inferred category; and (2) sulphide mineralization containing 0.6 million tonnes grading 0.91% Cu and 0.39 g/t Au in an indicated category and 77.2 million tonnes grading 0.63% Cu and 0.18 g/t Au in an inferred category. The resource is being updated by Micon to include the 25,000 meters of additional drilling completed so far in 2008. These updated resource figures will be included in the scoping study.
The current drilling program underway at El Espino is focused on the Chon Chon gold zone (see press release dated October 17, 2008), with the objective of converting as much of the high grade (80.81 g/t Au) geological potential containing between 530,000 and-675,000 ounces of gold to resources that could be included in the scoping study.
About Explorator Resources
Explorator Resources is a Canadian-based mining exploration company focused on advancing its El Espino Copper-Gold Project in Chile. The Company is currently completing a Phase III 30,000 meter drill program, the results of which will update the current NI 43-101 mineral resource estimate and is completing a scoping study on the Project's oxide mineralization. The Project lies within the prolific copper-gold mineral area of the Cordillera de la Costa and is central to an important cluster of "Candelaria-style" copper-gold deposits. It is located 3.5 hours drive north of Santiago. The El Espino project block covers 75 square kilometres and is host to major gold and copper mineralized structures on which nine small operating mines have been developed.
REGULATORY FOOTNOTE
Mr. Michael Schuler, Explorator Resources' Vice President, Exploration is the "Qualified Person" as defined under the National Instrument 43-101 and is responsible for the scientific and technical work on Explorator's exploration program and is responsible for reviewing the technical disclosure in this news release. All analytical work has been completed by ALS Chemex of La Serena in Chile; ALS Chemex is a respected international analytical service which is accredited with NATA and complies with standards of ISO 9001:2000 and ISO17025:1999. They employ a variety of international standards for quality control purposes. Samples are transported from the project to the ALS Chemex laboratory in La Serena sample by Company personnel or a reputable commercial carrier. All analytical testing is performed utilizing a variety of industry standard analytical techniques, including: (1) ALS Analytical Code Au-ICP22 (Au 50g fire assay with ICP-AES finish), (2) ALS analytical code Au-GRA22 (Au 50g fire assay with a gravity finish), (3) ALS analytical code ME-ICP61 (33 element analysis using a four acid digestion and ICP-AES analysis), (4) ALS analytical code Cu-AA62 (ore grade copper analysis using a four acid digestion and an AAS finish. All diamond drill core is geologically logged, cut in half using a diamond saw and sampled by Company geologists in one (1) to three (3) meter sample intervals depending on visual grade estimates; the archive portion of the sample is securely stored at the company's core shed adjacent to the office in the town of Illapel.
The Company has initiated a QA/QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks and routinely repeats sample analysis.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information are identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and included, without limitation, statements regarding the company's plan of business operations, production levels and costs, potential contractual arrangements and the delivery of equipment, receipt of working capital, anticipated revenues, mineral reserve and mineral resource estimates, and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral reserve and resource estimates, equipment and supply risks, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Contacts
Tony Wonnacott
Explorator Resources Inc.
Director & Corporate Secretary
(416) 775-7540
Email: inquiry@explorator.ca
Website: www.explorator.ca |
