ECUADOR GOLD AND COPPER CORP V.EGX

News Release

[McColgan1]

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.

[itradestocks]

Of course.  Delay after delay after delay.  Should have sold a day or two ago for the 7-ish retest.  I was thinking another delay would happen but did nothing about it..

[RollingDice]

I'm fine with this.  Why release a PEA if it doesnt tell the whole story.  I'll gladly wait for it to be released with the true poterntial on paper.  

[RollingDice]

"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." Sounds good to me.

[BrendanC]

It's still a bit discouraging. Any guesses to how long this delay might take?

[RollingDice]

Sure, I mean I like money now as opposed to later, but I'm not worried.  I'm looking at getting a timeline.  I'll post here as soon as I have it.

[stockprosp]

86% recovery rate for gold is decent. Copper seems low but not sure standard recovery rate there.  Gold price didn't help either I'm sure

[McColgan1]

I don't think it's discouraging, I think it's just fine. They're basically saying it was a good deal before, but it'll be a GREAT deal now lol. I've been in this for about a year now, I don't mind waiting for them to improve my earnings at the end of it all.  I'm happy with this NR

[goldbull636]

Its simple......announce it as is and the project doesn't get the full attention it deserves OR optimize the PEA based on the project/data/geology so that it become more lucrative for someone to buy it! The extra wait means we can continue to accumulate and it will give us a better PEA!

[goldbull636]

Plus price of gold is unfavorable right now due to the "manipulation" to ensure it doesn't break free from $1300 resistance. This is a good move timming wise and for a better PEA!

[itradestocks]

Possibly just a sexy way to word the fact that there's not as much dollars in the ground as they thought?  Not sure about this one.  Not a basher as I hold shares, but getting sick of the games.  Never have I invested in a company with so many odd moves.  

[Bunge]

This post has been removed in accordance with Community Policy

[McColgan1]

I didn't cut it off, I did a direct copy/paste from  https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aEGX-2181616&symbol=EGX&region=C And as for a comment on that... Obviously. Thats what the PEA is for.. lol They havent completed it. This isn't rocket science to figure out