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.

Contacts:
Atacama Pacific Gold Corporation
Carl B. Hansen
President and CEO
416 861 8267
416 861 9116 (FAX)
info@atacamapacific.com
www.atacamapacific.com

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
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of D...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Column Technologies exhibited at SYS-CON's @DevOpsSummit at Cloud Expo, which took place at the Javits Center in New York City, NY, in June 2016. Established in 1998, Column Technologies is a global technology solutions provider with over 400 employees, headquartered in the United States with offices in Canada, India, and the United Kingdom. Column Technologies provides “Best of Breed” technology solutions that automate the key DevOps principals and help our customers meet today’s DevOps and Dig...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.