Metallurgical tests done by Kappes Cassidy in Reno, NV, on material from Caupar indicate recoveries of 84% for gold and 38% for silver. This is very good for a heap leaching process. Silver recovery increases with an increased presence of the metal, although there is no silver on surface.
There are several hundred million tonnes of gold mineralized oxidized material to be evaluated at Caupar. The property is well located on the flat top of a mountain and at an altitude of 3,400 to 3,700 m above sea level. There are no farming activities on the site.
Jean Depatie, Chairman of Rio Moche stated: "this private placement will give us the necessary financial resources to improve our knowledge of this exciting property and to complete our corporate reorganization by evaluating the possibilities of a public listing in Canada. We are grateful to Goldcorp for the trust they have placed in us in what is a difficult environment for junior resource companies."
Prospective Statements, Quality Control and Assurance:
Jacques Trottier PhD., Geol., is the "Qualified Person", as defined by National Instrument 43-101, who has read and approved the technical and scientific information in this news release.
Statements in this press release contain forward-looking information within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Readers are cautioned that assumptions used in the preparation of forward-looking information may prove to be incorrect. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which are beyond the control of Rio Moche that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors could cause results to differ materially from those expressed in the forward-looking information include, but are not limited to: stock market volatility, access to capital, commodity prices and general economic conditions. Industry related risks could include, but are not limited to: operational risks in exploration, development and production; delays or changes in plans; competition for and/or inability to retain other services; competition for, among other things, capital, acquisitions of reserves, undeveloped lands, skilled personnel and supplies; risks associated to the uncertainty of reserve estimates; governmental regulation, including environmental regulation; geological, technical, drilling and processing problems and other difficulties in producing reserves; the uncertainty of estimates and projections of costs and expenses; incorrect assessments of the value of acquisitions; the need to obtain required approvals from regulatory authorities and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Rio Moche does not undertake any obligation to update or revise any forward-looking statements to conform such information to actual results or to changes in expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
PhD., geol, Pres.
BA, MSc., Chairman
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