News-Releases
News Releases

Aldridge Minerals Inc. Announces greatly Improved Interim gold recovery results from its Yenipazar VMS project, Central Turkey

05/25/2011

Not for dissemination in the United States or through U.S. newswires

TSX-V: AGM
Frankfurt: AIW

TORONTO, May 25, 2011 /CNW/ - Aldridge Minerals Inc. (TSX Venture: AGM) ("Aldridge" or the "Company") announced today that it has received new results from its Yenipazar metallurgical sample, currently being tested for base and precious metal extraction at G&T Metallurgical Services Ltd. ("G&T") of Kamloops, B.C.  G&T recently prepared a gold gravity concentrate on Yenipazar crushed ore that recovered 63% of the contained gold, significantly more than the 36.8% gold recovery from flotation-only used in the Company's Preliminary Economic Assessment ("PEA") dated February 3rd, 2011 prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") filed on SEDAR.

The sample has been optimized by fine-crushing and gravity pre-concentration of sulphides at Mintek in Johannesburg, South Africa. A mass of 90 kg of this pre-concentrated sample was shipped to G&T and is being processed by flotation for base metals and by gravity methods for precious metals. Flotation testwork is also continuing at Hacettepe University in Ankara under the direction of the Company's chief metallurgical consultant.

The PEA filed early February 2011, considered data obtained up to the fall of 2010. This PEA indicated an overall gold recovery from floatation-only of 36.8% based on the amount of gold that had been recovered to the copper concentrate in earlier flotation test work.  Therefore, the test work this year has been mainly focused on improving gold recovery. It has now been recognized by microprobe analysis conducted at Hacettepe University that approximately 90% of the gold in the 90 kg sample is contained in the form of particles occurring mainly in the range of 10-40 microns and that most of this gold that was not recovered exists as discrete tailings products of the copper flotation circuit, at concentrations of up to 150 g/t Au.

Two distinct methods to recover the previously unrecovered gold have been examined by G&T thus far.  The first method involves extracting these gold particles with a gravity circuit before any flotation on a mill discharge product of P80 -75 microns.  Most of the gold particles have been found to be liberated in this material, and a first test with a Knelson separator yielded a gold gravity-concentrate which recovered 63% of the gold in the Knelson feed at a concentrate grade of 31.6 g/t Au and a mass pull of 5.2%. Further upgrading of this gold gravity-concentrate improved the grade to 115 g/t Au at a recovery of 42.6% and a mass pull of 0.94%. G&T will continue test work to improve upon this positive result.  Next steps will include leachability tests to determine how much of this gold can be recovered.

Secondly, leach testwork is scheduled to recover gold that has escaped from the gravity-circuit and is collected in discrete tailings products of the copper flotation circuit. Any free gold recovered from the flotation circuit will add to the gravity gold recovery. Hence, pursuant to these tests performed by G&T, the major part of the gold appears to be recoverable via gravity and flotation, followed by leaching.  It is expected that some gold will still report to the copper concentrate, but in further test work the target will be to maximize leachable gold recovery and to minimize gold reporting to the copper concentrate to avoid typical revenue losses on smelter payables.

Dr. Martin Oczlon, CEO and Exploration Manager of Aldridge commented "These results indicate that the potential for gold recovery from Yenipazar VMS-ore has probably been grossly underestimated previously. We are pleased to see that already the first gravity test has extracted 63% of gold contained in the feed, and that there is potential for further gold recovery during the flotation process. Further testwork, in particular leaching of the gold concentrates, will provide concrete recovery numbers, and we are confident that we will see substantial improvements of gold recoveries versus the numbers reported previously in the PEA".

Drilling Restarted at Yenipazar
Apart from the ongoing metallurgical test work, Aldridge has mobilized a diamond drill rig to Yenipazar to drill about 30 large diameter (PQ) holes. This program will provide data throughout the orebody regarding variability parameters for the mineralogical composition of the ore, its metal ratios, hardness, and floatation characteristics, gravitational pre-enrichment and other criteria. This data set will ultimately form the basis for a feasibility study ("FS"). The Company is currently in very advanced discussions to grant contracts for both the variability program and the FS in the very near future.

Martin S. Oczlon, PhD Geo, a director of Aldridge and Qualified Person as defined in NI 43-101, has supervised and interpreted the analytical test work and reviewed and verified the technical content of this press release.

About Aldridge Minerals Inc.

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 as well as Papua New Guinea, where the Company has amassed a large property position with a systematic exploration program currently being conducted.

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.

Caution Regarding Forward-Looking Information

This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release, include, but are not limited to, economic performance and future plans and objectives of the Company. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Aldridge believes that the assumptions and factors used in making the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. Aldridge disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

TSX-V: AGM 0.26 +0.00 +0% Volume: 16,500 March 23, 2017

Downloads

Date Download
November 29, 2016 Q4 2016 MD&A 826 KB
November 29, 2016 Financial Statements - Q4 2016 699 KB
June 11, 2012 Yenipazar Plan Map 1.21 MB
March 22, 2012 Corporate Presentation 1.38 MB