Contango selected a total of three samples for metallurgical testing. All samples were coarse rejects from the geochemistry work done by
Table 1: Original Peak Zone Metallurgical Sample Geochemistry
|Sample||Sample A||Sample B||Sample C|
Results of this work are presented in graphical form and indicate that all samples achieved consistently high metallurgical recovery across the primary grind sizes that ranged from 49 to 115 microns. The high flotation concentrate mass pulled in all tests is a good reflection of the sample's sulfide content. (See graph: Average Total Metal Recovery & Rougher Concentrate Mass Pull.)
The proportion of contained gold recovered by gravity methods ranged from 8% to 30% with the lowest gravity recovery in the high copper bearing sample (Sample B) with progressively higher percentages of gold in the gravity concentrate as gold grade increased in Sample C and Sample A. (See graph: Gold – Gravity, Flotation and Combined and Concentrate Grade.)
Primary sulfides identified in the analysis were pyrrhotite and chalcopyrite with lesser amounts of arsenopyrite, silver-bearing minerals, sphalerite and native gold. Primary silicate minerals include quartz, calcite, chlorite, potassium feldspar, amphibole and pyroxene. Abundant visible gold was observed in polished sections of Sample A and C (Table 2). Sample B, containing low gold head grade, returned only one grain of visible gold.
Table 2: Gold and Silver Assay and Grain Count Summary
# of Gold Grains
In conclusion, preliminary metallurgical tests conducted on drill core samples from the Peak zone indicate that both gold and sulfide minerals respond to standard gravity and froth flotation treatment and that gold is not refractory in nature.
The Company also announced today that it filed its Form 10-Q for the quarter ended
The Company reported a net loss of
For the nine months ended
CORE is a
This press release contains forward-looking statements regarding CORE that are intended to be covered by the safe harbor "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995, based on CORE’s current expectations and includes statements regarding future results of operations, quality and nature of the asset base, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words such as "expects", “projects”, "anticipates", "plans", "estimates", "potential", "possible", "probable", or "intends", or stating that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved). Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those, reflected in the statements. These risks include, but are not limited to: the risks of the exploration and the mining industry (for example, operational risks in exploring for, developing mineral reserves; risks and uncertainties involving geology; the speculative nature of the mining industry; the uncertainty of estimates and projections relating to future production, costs and expenses; the volatility of natural resources prices, including prices of gold and rare earth elements; the existence and extent of commercially exploitable minerals in properties acquired by CORE; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the interpretation of exploration results and the estimation of mineral resources; the loss of key employees or consultants; health, safety and environmental risks and risks related to weather and other natural disasters); uncertainties as to the availability and cost of financing; inability to realize expected value from acquisitions; inability of our management team to execute its plans to meet its goals; and the possibility that government policies may change or governmental approvals may be delayed or withheld, including the inability to obtain any mining permits. Additional information on these and other factors which could affect CORE’s exploration program or financial results are included in CORE’s other reports on file with the