VANCOUVER, British Columbia -- (Business Wire)
Telson Mining Corporation (“Telson” or the “Company”)
(TSX-V – TSN, OTC Pink – SOHFF, Frankfurt – TSGN (formerly SQ82)) is
pleased to announce retaining Glencore Technology to conduct Albion
ProcessTM leach testing of newly processed flotation tailings
and historic tailings to increase recoveries of gold and silver, plus
zinc flotation testing focused on Jameson CellTM technologyto increase zinc recoveries and zinc concentrate grade at the
Campo Morado Mine.
States Antonio Berlanga, Telson CEO, “In our ongoing quest to maximize
the returns from Campo Morado production we are excited to embark on
Albion Process testing, an exciting new proven technology, to liberate
gold and silver from mines with refractory gold and silver
mineralization. If testing proves successful, we intend to fast-track
funding the capital costs and installation of the Albion Process
recovery equipment and technology during 2019. Thereafter, we believe
Campo Morado will transition from predominantly a zinc producer, into a
primary precious metal producer with strong base metal by-products which
will certainly and positively impact the mines profitability.”
About the Albion ProcessTM from Glencore Technology’s Albion
Process web site
(Albion
Process – Official Website)
“The Albion ProcessTM technology consists of
two key steps. The first step is ultrafine grinding of the feed material
using Glencore Technology’s IsaMillTM. The
second step is an oxidative leach of the finely ground feed minerals at
atmospheric pressure to break down the sulphide matrix and liberate gold
and silver for recovery by conventional means.
Albion Process™ has real-world success in delivering consistently
high recoveries – up to 97% in refractory gold and over 99% in
chalcopyrite copper concentrates. It has much lower capital cost than
traditional leaching plants like pressure oxidation (POx) plants and
because it operates at atmospheric pressure, it completely avoids the
myriad risks of POx plants. It’s also dramatically less expensive to
operate, with a recent study suggesting a third lower in ongoing opex
costs. It’s also is incredibly fast to install and commission and very
easy to operate.
Albion Process™ is a combination of ultrafine grinding and oxidative
leaching at atmospheric pressure. The feed to the Albion Process™ are
base or precious metal concentrates. The sulphides in the feed are
oxidised and valuable metals liberated, with the economic metals
recovered by conventional downstream processing. It was developed in
1994 by Glencore and is patented worldwide.
The Albion Process™ plants around the world are treating a range of
materials including a zinc sulphide concentrate, refractory gold/silver
concentrates and chalcopyrite copper concentrates.”
The Albion ProcessTM and Jameson CellTM testing
with Glencore Technology is estimated to be completed within 15 weeks of
receipt of samples in Brisbane, Australia. An additional two weeks are
estimated for the preparation and delivery of a Class 5 Engineering
Study providing the following information,
-
A capital cost estimate for the Albion ProcessTM Plant,
accurate to a Class 5 (AACE)
-
High level mechanical equipment list for the Albion ProcessTM
Plant
-
Power demand schedule for the Albion ProcessTM Plant
-
Albion ProcessTM Plant Process Description
-
Block flow drawing for the Albion ProcessTM Plant
-
Reagents and consumables schedule for the Albion ProcessTM
Plant at the nominal throughput
-
An operating cost estimate for the Albion ProcessTM Plant
at an accuracy of +20 %.
The Campo Morado samples are in the process of being collected and
shipped to Australia with an expected two-week delivery time.
About Telson Mining Corporation
Telson Mining Corporation is a Canadian based mining company with two
Mexican gold, silver and base metal mining projects. Telson is currently
in commercial production at its 100% owned Campo Morado Mine in
Guerrero, Mexico. Effective May 15, 2018 Telson declared commercial
production at Campo Morado. Telson is currently producing zinc and lead
concentrates with gold, silver and copper as by-products, processing
approximately 2,000+ tons per day through the Campo Morado milling
facilities.
Telson's 100% owned Tahuehueto Project, located in north-western Durango
State, Mexico is currently in construction development. Pre-production
commenced at Tahuehueto in August 2017, currently mining at a rate
averaging 170 tonnes per day during Sept 1st – 23rd 2018 shipping ore to
a third-party toll mill for processing. Management has a targeted
timeline at Tahuehueto to be producing with its own on-site mineral
processing plant, with a designed capacity of at least 1,000 tonnes per
day, during the first quarter of 2019.
Regular metal concentrate deliveries and sales are well underway from
both projects.
Visit: www.telsonmining.com
On behalf of the board of directors
(signed) “Ralph Shearing”
Ralph Shearing, P.Geol, President and Director
Cautionary Note Regarding Production Decisions and Forward-Looking
Statements
It should be noted that at Tahuehueto, Telson is mining reserves
supported by a pre-feasibility published early 2017 while at Campo
Morado pre-production mining is proceeding without the benefit of
pre-feasibility or feasibility studies that outline mineral reserves and
has declared commercial production at Campo Morado prior to completing a
feasibility study of mineral reserves demonstrating economic and
technical viability.Accordingly, readers should be cautioned
that Telson’s Campo Morado production decision has been made without a
comprehensive feasibility study of established reserves such that there
is greater risk and uncertainty as to future economic results from the
Campo Morado mine and a higher technical risk of failure than would be
the case if a feasibility study was completed and relied upon to make a
production decision.Telson has completed a preliminary economic
assessment (“PEA”) mining study on the Campo Morado mine that provides a
conceptual life of mine plan and a preliminary economic analysis based
on the previously identified mineral resources (see News Release dated
November 8, 2017 and April 4, 2018).This will soon be replaced
by a pre-feasibility study (“PFS”) that will allow the application of
modifying factors to the mineral resources to allow a portion of them to
be converted to mineral reserves.
Statements contained in this news release that are not historical
facts are “forward-looking information” or “forward-looking statements”
(collectively, “Forward-Looking Information”) within the meaning of
applicable Canadian securities laws. Forward Looking Information
includes, but is not limited to, disclosure regarding possible events,
conditions or financial performance that is based on assumptions about
future economic conditions and courses of action; the timing and costs
of future activities on the Company’s properties, such as production
rates and increases; success of exploration, development and bulk sample
processing activities and timing for processing at its own mineral
processing facility on the Tahuehueto project site. In certain cases,
Forward-Looking Information can be identified by the use of words and
phrases such as “plans”, “expects”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or variations of such words and
phrases. In preparing the Forward-Looking Information in this news
release, the Company has applied several material assumptions,
including, but not limited to, that the current exploration,
development, environmental and other objectives concerning the Campo
Morado Mine and the Tahuehueto Project can be achieved, the continuity
of the price of gold, zinc, lead and other metals, economic and
political conditions and operations. Forward-Looking Information
involves known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or
achievements expressed or implied by the Forward-Looking Information.
There can be no assurance that Forward-Looking Information 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 Information. Except as
required by law, the Company does not assume any obligation to release
publicly any revisions to Forward-Looking Information contained in this
news release to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
Neither 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181115005255/en/
Contacts:
Glen Sandwell, Corporate Communications Manager
ir@telsonmining.com
Tel:
+1 (604) 684-8071
Source: Telson Mining Corporation
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