>>>Gonna see how I feel about holding something I can't watch in real time. It may turn out to be better! If I gain comfort with it I'll look to build this position more substantially.<<<
Hiya aya Did you see that piece on ECU that I posted this morning?
Some interesting stuff, not the least of which, imo, is this bulleted blurb....
*An upgraded National Instrument 43-101 compliant (see Mining Complex Overview for an explanation of this term) new resource estimate is expected to be announced by mid 2006. It is likely to reveal that ECU’s core mine complex (which is far from fully explored) contains considerably more gold and silver than previously stated in the last 43-101 report.
- The mineralized green skarn has been confirmed to extend 100 meters (328 feet) laterally at higher elevations than previous intercepts.
ECU Silver Mining Inc. (the "Company") is pleased to announce results from the metallurgical testing on the gold/pyrite concentrates that were carried out at the Colorado School of Mines. The report titled "Preliminary Evaluation of Pressure Oxidation followed by Cyanidation of a Pyrite Flotation Concentrate" and prepared by Dr. Patrick R. Taylor and Dr. Edgar E. Vidal, at the Kroll Institute for Extractive Metallurgy, Colorado School of Mines, contained the following:
A) " Preliminary experiments have shown that the concentrate can be oxidized in an autoclave and that the resultant solids may be subjected to cyanidation to recover the gold. Additional laboratory scale autoclave tests should be performed to further define the optimal autoclave leach conditions. "
The important points to be noted from the above statement are:
1)The method process applied in this test can be used to recover the gold from the pyrite concentrates, and
2) This is a standard method used commonly in Nevada and elsewhere, and thus no new technological development has to be used or made .The implication of this is that less time and resources will be required to efficiently implement the process.
B) "A maximum of 0.93 oz of gold per tonne of concentrate was recovered by cyanidation of the as-received pyrite concentrate under the established optimum conditions."
The important points to be noted from the above statement are:
1) Tests conducted have demonstrated that the Company can recover more than 90% of the gold contained in the pyrite concentrates, a huge improvement over earlier tests, and
2) This gold recovered can be sold as a precipitate or dore bar from which the company would receive 98.5% of the total value.
The Company views these findings that confirmed gold recoveries above 90% as extremely significant. These recovery rates may be achieved from using standard pressure oxide leaching methods on our pyrite concentrates which would improve our overall gold recoveries tremendously and significantly enhance our monthly revenues. This was the first official report testing a proven metallurgical method to return such excellent results. The Company is waiting on final results from two further currently on-going testing methods before making a final decision on the best process to implement as we gear up to build our new recovery processing plant.
"The Company is pleased with the latest metallurgical findings in the report just received from the Kroll Institute for Extractive Metallurgy. It was critical that the successful preliminary results from the pressure oxide leaching tests we reported on last month were confirmed to be so efficient. It more than justifies our decision of accumulating our gold in the tailings (almost 20 000 ounces as of May 31 st , 2006) until a more efficient method has been decided on. The implications for the Company from the success of this latest recovery method is that once a recovery plant is implemented, there will be a significant increase in the cash flows generated by the sale of the final product." noted Michel Roy, president and chief executive officer of ECU Silver Mining.
The Company also wishes to report that drilling continues in the Tres Aguilas sector, it is aimed at proving continuity of both the stockwork zone and the mineralized green skarn (skarn #1) below level 17.5. We are pleased to report that the green skarn has been encountered 100 meters west of the previous sections and only 40 meters below the 17.5 level, much higher than previous intercepts and closer to current workings. Samples have already been sent to the lab and we expect the results early next week.
Mr. Michel Roy, P. Geo., a "qualified person" within the meaning of NI 43-101, prepared the technical information disclosed in this news release.
ECU Silver Mining Inc is a junior Gold, Silver, Zinc and Lead producer in the prolific mining district of Velardena, Mexico where historically over 500,000 ounces of Gold and 250,000,000 ounces of silver have been mined. Full scale production began in May 2005 at the Company's Santa Juana mine. To ensure the Company is positioned for continued growth and expansion, and to take full advantage of the current record setting metals prices, the Company has a fully operational infrastructure in place, several months of planned production available from the current stopes, and ongoing exploration programs.
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