Mr. Paul Parisotto reports
CALICO REPORTS EXCEPTIONAL RESULTS FROM METALLURGICAL TEST WORK
Resource Development Inc. (RDi) has completed positive bench-scale metallurgical testing for Calico Resources Corp.'s Grassy Mountain project located in southeastern Oregon. A technically sound and economically viable processing strategy has been developed by RDi for production of gold and silver based on representative samples of drill core from Grassy Mountain. Tests indicate that recoveries of 97.0 per cent gold and 84.6 per cent silver are achievable utilizing a conventional gravity process followed by carbon-in-leach (CIL) cyanidation of the gravity tailings. Dr. Deepak Malhotra, PhD, president of RDi, directed the work.
SUMMARY OF GRAVITY AND LEACH TEST RESULTS -- GRASSY MOUNTAIN PROJECT
Primary Gravity Leaching Over all
grind
P80, mesh
Recovery % Grade g/t Recovery % Recovery %
Au Ag Au Ag Au Ag Au Ag
48 22.6 16.6 336.1 598.4 90.6 79.2 92.7 82.7
65 25.1 18.9 286.1 443.4 91.1 76.8 93.3 81.2
100 26.9 6.4 961.7 975.8 95.9 83.6 97.0 84.6
Note
Feed assayed 8.50 g/t Au and 19.1 g/t Ag.
"These exceptional results take us another step closer to establishing the economic potential of Grassy Mountain. The next step is to incorporate the metallurgical data into the preliminary economic assessment now in progress. We expect to announce the results of the PEA later this month. Meanwhile, we also continue to advance the project through the permitting process. Our aim remains to derisk the project in preparation for a transaction that unlocks the value of Grassy Mountain for our shareholders," said Paul Parisotto, president and chief executive officer of Calico.
Qualified person
Michael F. McGinnis, a qualified person (CPG 10914) pursuant to National Instrument 43-101 standards for disclosure for mineral projects, has reviewed and approved the technical contents of this news release. Mr. McGinnis is Calico's project manager/exploration and is therefore not independent of Calico.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.