Second Successful Pilot Scale Leach Test Completed by Ireland Inc.
Approval Received for Expanded 2009 Drill Program
Press Release
Source: Ireland Inc.
On Wednesday September 16, 2009, 8:29 am EDT
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HENDERSON, Nev.--(BUSINESS WIRE)--Ireland Inc. (OTCBB: IRLD - News), a minerals exploration and development company focused on the discovery and extraction of precious metals from mineral deposits in the Southwestern United States, today announced that it has received the results of another series of pilot and bench scale leach tests completed on samples taken from Ireland’s Columbus Project, located in Esmeralda County, Nevada. The pilot scale (2,000 lbs) and bench scale (5.5 lbs) leach tests indicate extraction results of precious minerals that are consistent with previous pilot and bench scale tests. The pilot and bench scale tests are being used to define and refine the extraction process for the Columbus Project.
Pilot Scale Test Results in 83% Metal-in-Hand Extraction of Precious Metals
The pilot and bench scale leach tests were conducted by independent consultants AuRIC Metallurgical Laboratories LLC of Salt Lake City, Utah. The materials tested were taken from Zone B of Ireland’s Columbus Project. The sample was delivered to AuRIC by independent consultants McEwen Geological LLC of Arvada, Colorado, under chain-of-custody standards.
The pilot scale leach test was conducted on 2,000 pounds of material extracted from the Zone B of Ireland’s Columbus Project. The bulk material assayed 0.070 ounces per ton (“opt”) gold (Au) and 0.302 opt silver (Ag), or 0.074 opt Au Equivalent (AuE). The pilot scale leach test extracted 0.066 opt Au and 0.181 opt Ag, or 0.068 opt AuE into solution. The precious metals were then collected on activated carbon and processed to produce Au and Ag bullion for a net extraction of 0.060 opt Au and 0.168 opt Ag, or 0.062 opt AuE. This represents leach extraction of 91.9% of AuE into solution and 83.8% of AuE recovered as metal-in-hand. Ireland will continue to refine the process to optimize precious metal extraction rates.
“We are very pleased with the results of the most recent pilot scale test,” stated Douglas D. G. Birnie, Chief Executive Officer of Ireland. “An 83% recovery of the gold and silver as metal-in-hand represents an excellent result. Although we may not expect this level of recovery on all of the project’s material, the tests results represent another significant step in our efforts to achieve consistent extraction rates using our direct leach process. We will continue to refine our extraction process as we approach the completion of our prefeasibility program.”
This pilot scale test followed a series of successful bench scale tests used to define the leaching process. All processed material was sample assayed using a caustic fusion fire assay technique to determine the material head grade. The pilot and bench scale test results were as follows:
Pilot and Bench Scale Test Results1
Parameter Test Size
(lbs)
Head Grade
(opt AuE)
AuE Recovered
into Solution (opt)
% Recovered into Solution AuE Recovered as Metal(opt) % Recovered as Metal
Zone A – Permitted Mine Area 1,738 0.062 0.053 85.9% 0.043 69.6%
Zone B – S1B Composite 5.5 0.041 0.037 89.9% n/a n/a
Zone B – S9B Composite 5.5 0.074 0.066 89.8% n/a n/a
Zone B – S12B Composite 5.5 0.057 0.046 81.3% n/a n/a
Zone B – S12B Composite 5.5 0.057 0.054 94.0% n/a n/a
Zone B – S9B 5.5 0.074 0.055 74.7% n/a n/a
Zone B – S9B 1.8 0.074 0.058 78.7% n/a n/a
Zone B – S9B 2,000 0.074 0.068 92.4% 0.062 84.1%
The pilot and bench scale tests are being used to assist Ireland in defining and refining its proposed extraction process for the Columbus Project. As a result, the leaching chemicals and procedures used in the above tests, although similar, were not identical. Ireland will continue to make minor adjustments to its leach extraction procedures in an effort to optimize recovery.
Approval for Expanded 2009 Drill Program Received
Ireland also announced that it received approval from the Bureau of Land Management to expand by 28-holes its previously authorized 30-hole drill program at Ireland’s Columbus Project.
The total drill program will now consist of a series of 58 holes drilled to depths ranging from 200 feet to 400 feet below the surface. The objective of the program is to determine the three-dimensional extent and economic potential of the gold mineralization that lies between the previously identified Zone A and Zone B of the Columbus Project and to conduct exploratory drilling to the south of Zone B.
“The Bureau of Land Management approval of the extension of our 2009 drill program allows us to evaluate mineralization across a larger expanse of the Columbus Project,” noted Birnie. “This represents another step forward for our technical program, which is focused on determining the total potential gold mineralization and economic feasibility of the Columbus Project. Drilling has already commenced on this new phase of the program.”
About Ireland Inc.
Based in Henderson, Nevada, Ireland Inc. is a minerals exploration and development company focused on the discovery and extraction of precious metals from mineral deposits in the Southwestern United States.
In 2007, Ireland acquired rights to two mining properties, both of which are prospective for gold and other minerals. In early 2008, Ireland completed the acquisition of the Columbus Project located near Tonopah, NV, where it has an option to acquire an additional 22,640 acres of adjacent mineral claims. Ireland also owns rights to acquire up to 100% of the Red Mountain Project in San Bernardino County, California.
Forward-Looking Statements
This document may include statements that constitute “forward-looking” statements, usually containing the words “believe”, “estimate”, “project”, “expect”, or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, Ireland’s limited operating history, future trends in mineral prices, the availability of capital, geological or mechanical difficulties affecting Ireland’s planned geological work programs, and uncertainties surrounding estimates of mineralized material. There is no assurance that the test results reported in this document are indicative of extraction rates throughout the Columbus Project. Additional exploration work is required before proved or probable mineral reserves can be established. There is no assurance that the results of Ireland’s pre-feasibility program will result in a decision to enter into commercial production. Ireland undertakes no obligation to update the forward looking statements in this document.
1 Test results using a chemical leach process that will not be used in production have been omitted.
Contact:
Bibicoff + MacInnis, Inc.Terri MacInnis, Dir. of Investor Relations 818-379-8500 818-379-8500terri@bibimac.comorRJ Falkner & Company, Inc.Jerry Falkner 800-377-9893 800-377-9893info@rjfalkner.com
