McColgan1 wrote: Mr. Glenn Laing reports
ECUADOR GOLD TO UNDERTAKE ADDITIONAL METALLURGICAL TESTWORK AND MINING OPTIMIZATION FOR SANTA BARBARA PRELIMINARY ECONOMIC ASSESSMENT
Ecuador Gold and Copper Corp.'s consulting engineer, GBM Minerals Engineering Ltd., which is currently undertaking a National Instrument 43-101 preliminary economic assessment technical report on the company's flagship Santa Barbara project, has recommended that additional metallurgical testwork be undertaken to establish a metallurgical flow sheet that will produce a saleable copper concentrate and further optimization of the mine plan based on this metallurgical testwork.
The Company expects that this additional metallurgical testwork and mine optimization will enhance the overall economic viability of the Santa Barbara Project.
Preliminary Metallurgical testwork and Recoveries to Date
Metallurgical testwork to date using 'whole ore' cyanide leaching and a two stage flotation process has resulted in an 86% recovery of gold and a 64% recovery of copper.
Further Metallurgical testwork
GBM have recommended that additional metallurgical testwork and flow sheet optimization which incorporates alternative flotation reagents, fine grinding, and possibly a hydrometallurgical process be undertaken that could result in a copper concentrate and gold dore being produced at the mine site.
Mine Optimization
GBM have further recommended that based on the anticipated improved recoveries and the production of an upgraded copper concentrate, that the mine plan and processing rate be optimized to establish a lower capital cost alternative, which will improve the overall economic return and viability of the Santa Barbara Project.
Enhanced Economics and Viability
The Company aims to achieve the maximum extraction of all metals from its mineral resources through optimized metallurgical recoveries into saleable products that are produced from the most optimal mine plan from this mineral resource. The Company expects that this additional metallurgical testwork and mine throughput optimization will enhance the overall economic viability of the Santa Barbara Project.
Qualified Person
Mit Tilkov, P.Geo., Vice-President Exploration of Ecuador Gold and Copper Corp. is a qualified person, as defined by National Instrument 43-101 ("NI 43-101"), and is responsible for the preparation of the technical information in this news release.