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
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that A&I Solutions 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. Founded in 1999, A&I Solutions is a leading information technology (IT) software and services provider focusing on best-in-class enterprise solutions. By partnering with industry leaders in technology, A&I assures customers high performance levels across all IT environments including: mai...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, 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. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at 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. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that Tappest will exhibit MooseFS at 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. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
SYS-CON Events announced today that EARP will exhibit at 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. "We are a software house, so we perfectly understand challenges that other software houses face in their projects. We can augment a team, that will work with the same standards and processes as our partners' internal teams. Our teams will deliver the same quality within the required time and budget just as our partn...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that Systena America will exhibit at 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. Systena Group has been in business for various software development and verification in Japan, US, ASEAN, and China by utilizing the knowledge we gained from all types of device development for various industries including smartphones (Android/iOS), wireless communication, security technology and IoT serv...