Not for dissemination in the United States or through U.S. newswires
TORONTO, Dec. 1, 2011 /CNW/ - Aldridge Minerals Inc. (TSX Venture: AGM) ("Aldridge" or the "Company") is pleased to announce the results of its
metallurgical study of Yenipazar ore conducted by G&T Metallurgical
Services LTD ("G&T") of Kamloops BC. In total, ten samples weighing a
total of approximately 90 kilograms of gravity pre-enriched Yenipazar
material was used for the testing. The sample was taken from five
drill holes selected to be as representative as possible of the overall
resource grade at Yenipazar.
One of the major goals of the study was to examine the potential to
produce a gravity recoverable gold or "Pan" concentrate prior to
floatation. Five open circuit cleaner tests were conducted with a
gravity circuit to test this option. The following comments were made
by G&T regarding the gold gravity concentration. "The tests clearly
indicate that about 50% of the gold is recoverable by gravity
concentration". Aldridge is very pleased with this result, especially
since total gold recoveries assumed in its Preliminary Economic
Assessment ("PEA") filed on SEDAR February 3rd, 2011 were only 37% and in our previous testing, approximately 90% of
the gold in floatation reports to the copper concentrate.
Cyanidation tests were then conducted to test the potential to leach
this Pan concentrate to recover the gold and silver from this gravity
concentrate. G&T reported that "Bottle roll cyanidation tests on the
pan concentrate using 1,000 ppm sodium cyanide, extracted about 79% of
the gold in the feed". "When the dosage of sodium cyanide was
increased to more intensive conditions (10,000 to 20,000 ppm) the gold
extractions increased to over 97%" after a time period of 48 hours.
Again, Aldridge is very encouraged by these results.
In addition to the gravity gold testing, several rougher tests and one
locked cycle test were completed. The lone locked cycle test produced
three separate copper, lead and zinc concentrates.
The copper concentrate graded 19.6% at a total recovery of 72% and
contained 30.3 g/t gold (a recovery of 24%) as well as 482 g/t silver
(at a recovery of 15%).
The lead concentrate graded 64.3% at a total recovery of 51% and
contained 1111 g/t silver (45% recovery) and 4.7 g/t gold (5%
The zinc concentrate graded 57.7% at a recovery of 77% and only
contained 59 small amounts of silver and gold (1.14 g/t Au and 59 g/t
Ag at recoveries of 5% and 2% respectively).
These recoveries compare quite favourably to those in our PEA where
total recoveries for Au, Ag, Cu, Pb and Zn were only 37%, 57%, 77%, 78%
and 59% respectively.
"These results are a solid improvement in our recoveries from those of
the PEA. Additionally, now that we know we can recover approximately
50% of our gold in a Pan concentrate, we will continue to work on
increasing the leachability of this concentrate and to establish even
higher recoveries of gold in the floatation circuits as well.
Internally, our aim is to consistently recover at least 80% of the gold
from Yenipazar with more than half of this being produced in a doré bar
after leaching our Pan concentrate" said
, President of
Aldridge. The metallurgical work for the Yenipazar definitive
feasibility study will be completed by SGS UK in conjunction with Gekko
John F. Cook P. Eng
and a director and consultant of Aldridge and
Qualified Person under NI 43-101, has reviewed and verified the
technical content of this press release.
About Aldridge Minerals Inc.
Aldridge is a publicly-traded junior exploration company in the business
of identifying and developing mineral properties in Turkey and Papua
New Guinea ("PNG"). Aldridge is advancing its flagship Yenipazar
polymetallic VMS deposit in Turkey with a feasibility study, which is
building on its December 2010 Technical Report and Preliminary Economic
Assessment. The deposit includes gold, silver, copper, lead and zinc.
The feasibility study is expected to be completed by the end of 2012.
Aldridge's PNG exploration license includes an area of approximately
338 square kilometres known as the Kili Teke license. The license area
is prospective for gold, silver and copper.
The Yenipazar deposit is subject to an earn-in agreement with Alacer
Gold Corp., wherein Aldridge can earn a 100% working interest subject
to certain conditions, subject to a 6 % net profit interest ("NPI",
revenues less operational costs) until revenues of US$ 165 million are
generated, and a 10 % NPI from there on.
Additional information and corporate documents may be found on www.sedar.com and the Company's website, www.aldridgeminerals.ca.
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.