Click here to close now.




















Welcome!

News Feed Item

Atacama Pacific Announces Continued Positive Metallurgical Results From Cerro Maricunga Oxide Gold Project

TORONTO, ONTARIO -- (Marketwired) -- 06/09/14 -- Atacama Pacific Gold Corporation (TSX VENTURE:ATM) ("Atacama Pacific") is pleased to report the results from six column percolation leach tests completed on gold mineralization from its Cerro Maricunga oxide gold deposit located in northern Chile. The tests were undertaken to compare the gold recoveries from mineralization crushed to different sizes and to examine the impact of crushing using high pressure grind rolls ("HPGR") on recoveries. The test work also examined the impact of reducing the amount of lime used to control leach solution pH.

Table 1 summarizes the results of the column tests. Highlights from the current test work include:


--  Only a minor decrease in gold recoveries was observed when increasing
    crush size to 105 mm. 
--  HPGR crushed mineralization did not achieved significantly higher gold
    recoveries compared to conventionally crushed material. 
--  Majority of leachable gold was extracted in the first twenty days at
    crush sizes less than 21 mm. 

Table 1 - Summary of Column Test Results, Cerro Maricunga Deposit           
----------------------------------------------------------------------------
Test    Head     Gold Crush             Lime +                              
#      Grade Recovery  Size  NaCN(1) Cement(2)  Note                        
      ----------------------------------------                              
        (g/t         (P80 =                                                 
         Au)      (%)   mm)   (kg/t)    (kg/t)                              
----------------------------------------------------------------------------
68801A  0.33       72 105.0     0.96       1.0  Conventionally crushed      
----------------------------------------------------------------------------
68801B  0.33       74  21.0     1.96       1.8  Conventionally crushed      
----------------------------------------------------------------------------
68811   0.44       83   7.6     2.42       2.0  Conventionally crushed      
----------------------------------------------------------------------------
68815   0.44       84   7.2     2.10       1.9  HPGR                        
----------------------------------------------------------------------------
68813   0.58       86   6.4     2.47       1.8  HPGR                        
----------------------------------------------------------------------------
68814   0.58       84   6.9     2.24       1.8  HPGR, fines processed       
                                                separately                  
----------------------------------------------------------------------------
1. Reduced levels of lime resulted in a tripling of NaCN consumption due to 
 the loss of solution pH control                                            
2. Totals include 1 kg of cement                                            

The current testing examined the impact of reducing the initial amount of lime added to the columns, which has a direct impact on leach solution pH and NaCN consumption. The solution pH of the current tests averaged between 9.0 and 9.5 resulting in significantly higher than previously determined NaCN consumption. The solution pH of all previous columns had been maintained between 10 and 11 establishing heap leach NaCN consumption in the order of 0.24 kg/t.

Test Results

As confirmed by column tests 68801A and 68801B, coarser crushed mineralization achieved slightly lower gold recoveries (72% at a 105 mm crush versus 74% at a 21 mm crush) similar to earlier column test results. Previous testing undertaken on mineralization crushed to 19 mm achieved gold recoveries of 78 to 89% compared to recoveries of 76 to 80% from mineralization crushed between 50 and 150 mm.

Three tests were completed on material crushed with HPGR following up on a HPGR-related column test announced on May 9, 2013 which attained a gold recovery of 85%. The current tests achieved gold recoveries varying from 84% to 86%. Two columns, completed on the same sample material, examined the impact of HPGR and conventional crushing with the HPGR test (68815) achieving 84% recoveries and the conventional test achieving 83% recoveries. There appears to be no significant benefit to using HPGR crushing.

Metallurgical Test Details

The column tests, conducted by Kappes, Cassidy and Associates, Reno, Nevada, were run 84 days. Table 2 summarizes the test details. Column slump, the difference between the initial sample height in a column compared to the height after test completion, was low. The initial leach solution for each column test contained 1.0 g NaCN/l and an on-flow solution NaCN concentration of 0.6 g/l was maintained during the test period.


Table 2 - Column Test Details                                               
----------------------------------------------------------------------------
Test        Head       Gold    Test   Crush     Dry  Initial   Final  Column
#          Grade   Recovery  Period    Size  Weight   Height  Height   Slump
                                                                            
                                      (P80=                                 
        (g/t Au)        (%)    days     mm)      kg        m       m       %
----------------------------------------------------------------------------
68801A      0.33         72      84   105.0     699     3.09    3.07     0.6
----------------------------------------------------------------------------
68801B      0.33         74      84    21.0      49     2.02    2.00     0.9
----------------------------------------------------------------------------
68811       0.44         83      84     7.6      49     1.77    1.73     1.8
----------------------------------------------------------------------------
68815       0.44         84      84     7.2      55     1.93    1.90     2.0
----------------------------------------------------------------------------
68813       0.58         86      84     6.4      55     1.91    1.88     2.0
----------------------------------------------------------------------------
68814       0.58         84      84     6.9      55     1.91    1.87     1.3
----------------------------------------------------------------------------

Prefeasibility Update

The Cerro Maricunga prefeasibility study is progressing well. The mineral processing and the majority of the mining plans have been completed and Atacama Pacific is waiting for supplier quotes for fleet equipment and some infrastructural items. All quotes are expected prior to the end of June and the PFS should be available for release in early July 2014.

Share Issuance

As announced on May 15, 2014, Atacama Pacific entered into an agreement with Hydro Exploraciones SpA under which it agreed to issue 350,000 common shares at a price of $1.15 per share to settle all obligations under two water exploration agreements. These agreements are related to water concessions located 70 km to the east of the Cerro Maricunga and subject to a water exploration joint venture agreement with Exeter Resources Corporation. These shares were issued on June 6, 2014 following approval of the transaction by the TSX Venture Exchange. The hold period on these shares will expire on October 7, 2014.

About Atacama Pacific Gold Corporation

Atacama Pacific's primary mineral property is the Cerro Maricunga oxide-associated, breccia-hosted gold project, located in Region III, 140 kilometres by road northeast of the city of Copiapo. In Atacama Pacific's January 2013 PEA envisions a large open pit operation mining 80,000 tonne per day with a conventional heap leach processing facility producing 2.7 million ounces of gold over a 10 year mine life with cash costs of US$652 per ounce. On January 28, 2014, Atacama Pacific announced an updated pit confined resource estimate of 3.47 million ounces of gold (248.8 million tonnes grading 0.43 g/t gold) in the measured and indicated category with a further 0.043 million ounces (3.1 million tonnes grading 0.43 g/t gold) in the inferred category. The resource estimate was based upon a cut-off grade of 0.18 g/t gold.

National Instrument 43-101

As defined by Section 1.5 of National Instrument 43-101 ("NI 43-101") of the Canadian Securities Administrators, the Qualified Person for the Cerro Maricunga Property is Sergio Diaz, a resident of Santiago, Chile and a registered member of the "Comision Calificadora de Competencias en Recursos y Reservas Mineras" (Chilean Mining Commission, registry n degrees 051), an accepted foreign association as defined by NI 43-101 (Appendix A). Mr. Diaz has reviewed the contents of this press release.

The Cerro Maricunga resource estimate was prepared under CIM Definition Standards (2005). Dr. Eduardo Magri, a mining engineer (University of Witwatersrand) and a Fellow of the Southern African Institute of Mining and Metallurgy with over 30 years of industry experience, is the Independent Qualified Person for the resource estimate.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements with respect to the PEA, including the potential total gold production of 2.7 million ounces over a 10.1 year mine life, initial life of mine estimated operating cash costs of US$652/oz Au, preliminary initial capital cost estimate of US$514.6 million with sustaining capital of US$249.0 million, pre-tax pay-back period of 2.5 years at US$1,450/oz Au and 1.7 years at US$1,700/oz Au, pre-tax NPV of $741 million at US$1,450/oz Au and a 5% discount rate After-tax NPV5% of US$531 million, pre-tax NPV5% of US$1,247 million and an after-tax NPV5% of US$923 million at US$1,700/oz Au, pre-tax IRR) of 33.9% at US$1,450/oz Au (after-tax IRR of 26.6%), statements regarding the expectation to increase mineral resources, statements regarding expectations for receipt of permits and environmental approvals, exploration results (including with respect to water resources), the success of exploration activities generally, mine development prospects, and potential future gold production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the results of due diligence activities, changes in economic parameters and assumptions, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of further economic and technical studies, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in Atacama Pacific's publicly filed documents.

Although Atacama Pacific has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...