Vancouver, British Columbia – April 14, 2010: Dr. Hikmet Akin, President of Aldridge Minerals Inc. (“Aldridge” or the “Company”) is pleased to announce that the Company has received encouraging interim results on its flotation testwork for a bulk-sample sample from the gold-rich Yenipazar VMS deposit in central Turkey.
The results reported today reflect the first stage of metal extraction via flotation on a P80 â€‘75 micron feed (80% of the grains have a size of 75 micron or smaller), targeting mainly copper and with it gold because much of the contained gold reports to copper in this case. This is called a Cu-rougher concentrate. The other elements present in the Cu-rougher concentrate, which are lead (to which most of the silver reports) and zinc, are to be separated later during the cleaning stage from the Cu-rougher concentrate. Cleaning may be achieved with finer grinding to separate Zn and Pb minerals still hanging together with copper minerals, and/or with the use of suitable flotation reagents. Further, the Pb, Zn, and Ag are to also be recovered from the Cu-rougher tailings (rejects).
The tests have been performed by Cytec Industries B.V. Cytec is a large provider for flotation chemicals and draws on world-wide experience from testwork on flotation circuits for its clients.
The flotation tests are being performed on a gravity pre-concentrate with a grade of approximately 3.75 g/t Au, 59 g/t Ag, 1.51 % Cu, 1.36 % Pb and 2.29 % Zn.
Metal recoveries and grades in the Cu-rougher concentrate are as follows:
|| 7.16 %
|| 89.29 %
|| 62.22 %
|| 90.64 %
|| 60.60 %
|| 48.78 %
|| 53.32 g/t
|| 420 g/t
|| 17.51 %
|| 8.77 %
|| 9.87 %
Note: this test aims to understand the combined extractability of copper and gold and their recovery correlation, which is very good. This indicates that most of the gold may be recovered together with the copper in a concentrate. The bulk of the balance for recoveries of Pb, Ag, and Zn is to be floated separately from the Cu-rougher tailings.
Simultaneously, the company is conducting flotation testwork for the same bulk sample at Corem in Québec City, Québec, Canada. The results reported below are from a Cu-Pb-rougher concentrate, i.e., instead of focussing on Cu as the first metal to extract, it attempted to float Cu and Pb together, to be separated later. This test came out better for Cu-recovery, but precious metal assays are still pending. These results, or a complete update on forthcoming tests, will be reported in a separate news release.
|| 9.6 %
|| 95.46 %
|| 82.19 %
|| 61.48 %
|| 15.75 %
|| 12.08 %
|| 15.02 %
Note: this test aims to understand the combined extractability of copper and lead, together with gold reporting to copper and silver reporting to lead.
Dr. Hikmet Akin stated: “We are very pleased with these encouraging interim results from the flotation work being conducted by both Cytec and Corem. We expect to have additional results out during this fiscal quarter, and will provide information to the market as it becomes available. Once our flotation study is completed, we will immediately begin a Preliminary Economic Assessment on the Yenipazar Project.
The Yenipazar project is subject to an earn-in agreement with Anatolia Minerals, wherein Aldridge can earn a 100% working interest, subject to a 6 % net proceeds interest (“NPI”, revenues less operational cost) until revenues of US$ 165 million are generated, and 10 % NPI from there on.
Martin S. Oczlon, PhD Geo, a director of Aldridge and Qualified Person as defined in NI 43-101, has reviewed and verified the technical content of this press release.
About Aldridge Minerals
Aldridge Minerals Inc. is mainly focused on mineral opportunities in Turkey where the Company is conducting an ambitious exploration and development program at its flagship Yenipazar polymetallic VMS project.
Aldridge has also identified several other prospective opportunities in Turkey and Papua New Guinea, and has amassed a large property position where a systematic exploration program is underway.
On behalf of the Board of Directors
DR. HIKMET AKIN
President and Director
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Dr. Hikmet Akin, President and Director
Aldridge Minerals Inc., 1 604 688 8932