VANCOUVER, Sept. 5, 2012 /CNW/ - Wildcat Silver Corporation (TSX: WS) ("Wildcat" or "the Company") is pleased to announce that it has
completed pilot plant-scale testing on a simplified metallurgical
process for the recovery of silver and gold from the Hermosa Manto
Oxide and Upper Silver Zone material.
The new process centres on the calcining of the Manto Oxide material
(manganese hosted silver minerals) followed by traditional agitated
cyanide leaching and recovery of silver and gold by standard
Merrill-Crowe to produce a silver / gold doré. The calcining is
performed in a rotary kiln, which is a similar process used in the
cement industry, but at a lower temperature for the Manto Oxide
material. The kiln effectively reduces the Manto Oxide material,
rendering silver available for direct cyanide leaching. The revised
process for the Manto Oxide material greatly reduces the complexity of
the planned operation. A diagram demonstrating the new process can be
found at the end of this press release.
Wildcat believes this extensive testing has proven successful as silver
recoveries have consistently been above 80 percent. Silver recoveries
in some of the batch kiln tests have exceeded 90 percent while those in
the continuous rotary kiln tests have been up to 86 percent. Bench and
pilot work continues with the objective to further refine kiln
operating parameters to maximize silver recovery while minimizing
reagent consumptions. Data has also been obtained for other operating
processes including crushing and grinding, solid/liquid separation, and
tailings classification.
Currently, minor amounts of copper are also recovered in the leaching
process as a copper sulfide concentrate. The Company has completed
preliminary test work for treating the leach tails to recover zinc by
flotation and manganese by magnetic separation. Metallurgical test
work continues in an effort to further recover copper, zinc and
manganese. The recovery of these by-products would be incorporated
into the process should they prove to be economically viable.
The Upper Silver Zone material, which lies above and adjacent to the
Manto Oxide Zone, will be crushed and then combined with the calcined
Manto Oxide material, allowing for a single, grinding, cyanide leach
and Merrill Crowe circuit for all of the material processed. Wildcat
has optimized the grind size of the Upper Silver Zone material and
developed a grade/recovery curve for incorporating into future mine
modeling activities. Testing has returned silver recoveries of up to 52
percent.
The recently completed pilot plant test work was performed by Hazen
Research, Inc. in Golden, Colorado, USA. The pilot plant began
operating in June of 2012, processing approximately six tonnes of Manto
Oxide and Upper Silver Zone material. Further, metallurgical
development work continues using a larger direct-fired, pilot-sized
kiln to provide parameters for a full scale commercial operation to
support potential pre-feasibility and feasibility studies.
The results from this new process in addition to the new resource
announced in August 2012 will be incorporated into the Company's
revised Preliminary Economic Assessment.
"We view the success of this new process as transformational for
Hermosa," said Don Taylor, Wildcat's President and Chief Operating
Officer. "We are very excited that we have been able to find a
processing alternative based on simplified proven technologies. We
believe we have significantly de-risked the project's metallurgy and
made Hermosa a primarily silver/gold project with the potential for
considerable upside to produce by-products downstream. We are now
focused on incorporating these benefits into a revised project model
for our upcoming preliminary economic assessment."
Qualified Person
The results of Wildcat's metallurgical testing program have been
reviewed, verified, and interpreted by Christopher Easton, BSc.,
president of Easton Process Consulting Inc., a qualified person as
defined by National Instrument 43-101 (NI 43-101). Mr. Easton has 23
years of mineral processing and metallurgical engineering experience,
and is a Qualified Professional Member in Metallurgy of MMSA.
About Wildcat
Wildcat Silver is a Canadian silver exploration company focused on
becoming one of the largest silver producers in the USA by developing
its 80% owned Hermosa silver project located in Santa Cruz County,
Arizona. The project currently has a measured and indicated mineral
resource of 194 million tonnes averaging 37.7 grams per tonne silver
for a total of 236 million ounces of silver in addition to an inferred
mineral resource of 80 million tonnes averaging 30.9 grams per tonne
silver for a total of 79 million ounces of silver as announced in the
August 9, 2012 press release. Wildcat's common shares trade on the TSX
under the symbol "WS".
Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes
forward-looking statements. All statements, other than statements of
historical facts, are forward looking statements, including information
concerning the Company's plans for its mineral property in Arizona
including the preparation and timing of the preliminary economic
assessment and further metallurgical testwork. Forward-looking
statements are often, but not always, identified by the use of words
such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.
The forward-looking statements are based on a number of assumptions
which, while considered reasonable by the Company, are subject to risks
and uncertainties. In addition to the assumptions herein, these
assumptions include the assumptions described in the Company's
management's discussion and analysis for the period ended December 31,
2011 ("MD&A"). The Company cautions readers that forward-looking
statements involve and are subject to known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements to differ materially from those expressed
in or implied by such forward-looking statements and forward-looking
statements are not guarantees of future results, performance or
achievement. These risks, uncertainties and factors include general
business, economic, competitive, political, regulatory and social
uncertainties; actual results of exploration activities and economic
evaluations; fluctuations in currency exchange rates; changes in
project parameters; changes in costs, including labour, infrastructure,
operating and production costs; future prices of silver and other
minerals; variations of mineral grade or recovery rates; operating or
technical difficulties in connection with exploration, development or
mining activities, including the failure of plant, equipment or
processes to operate as anticipated; delays in completion of
exploration, development or construction activities; changes in
government legislation and regulation; the ability to maintain and
renew existing licenses and permits or obtain required licenses and
permits in a timely manner; the ability to obtain financing on
acceptable terms in a timely manner; contests over title to properties;
employee relations and shortages of skilled personnel and contractors;
the speculative nature of, and the risks involved in, the exploration,
development and mining business; and the factors discussed in the
section entitled "Risks and Uncertainties" in the MD&A.
Although the Company has attempted to identify important risks,
uncertainties and other factors that could cause actual performance,
achievements, actions, events, results or conditions to differ
materially from those expressed in or implied by the forward-looking
information, there may be other risks, uncertainties and other factors
that cause performance, achievements, actions, events, results or
conditions to differ from those anticipated, estimated or intended.
Unless otherwise indicated, forward-looking statements contained herein
are as of the date hereof and the Company disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as required
by applicable law.
About Reserves and Resources
This press release uses the terms measured, indicated and inferred
resources as a relative measure of the level of confidence in the
resource estimate. Readers are cautioned that: (a) mineral resources
are not economic mineral reserves; (b) the economic viability of
resources that are not mineral reserves has not been demonstrated; and
(c) it should not be assumed that further work on the stated resources
will lead to mineral reserves that can be mined economically. In
addition, inferred resources are considered too geologically
speculative to have any economic considerations applied to them. It
cannot be assumed that all or any part of an inferred mineral resource
will ever be upgraded to a higher category. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of
feasibility or pre-feasibility studies or economic studies except for
certain preliminary economic assessments. Readers should also refer to
the Company's Annual Information Form for the period ended December 31,
2011 and other continuous disclosure documents available at www.sedar.com, which is subject to the qualifications and notes set forth therein.
PDF available at: http://stream1.newswire.ca/media/2012/09/05/20120905_C3739_DOC_EN_17476.pdf
SOURCE: Wildcat Silver Corporation
<p> For additional information please visit <a href="http://www.wildcatsilver.com/">www.wildcatsilver.com</a> or contact: </p> <p> Letitia Cornacchia, Vice President, Investor Relations and Corporate Communications<br/> Telephone: +1 416 860 6310<br/> Email: <a href="mailto:lcornacchia@wildcatsilver.com">lcornacchia@wildcatsilver.com</a> </p>