ELCGF
| February 15, 2013
Electra Gold Ltd. (TSX.V:ELT) (“Electra” or the “Company”) is pleased to report the positive metallurgical test results on the Company’s Golden Ridge Project located 70km from Vancouver.
Cyanidation achieved excellent gold recoveries of 94.6% and 94.0% respectively. Most of the gold was recovered within 24 hours. Note that both tests resulted in extremely low tailings (leach residue) at ≤ 0.1 g/tonne gold.
A first pass test combining both gravity and flotation yielded an overall gold recovery of 81.7% with a final tail grade of 0.21 g/t. The other preliminary flotation only tests at a variety of grind fineness had a gold recovery of 68.7%, 67.0% and 76.2% at an 80% passing of 220, 141 and 77 microns respectively.
Electra Gold Test Work Summary
Test Type Test Number P80 (µm=microns)
(80% passing) Feed
(g/t Au) Au Recovery
(%) Final Tail
Grade (g/t)
Cyanidation (48 hrs.) BS106 77 1.42 94.6 0.10
Cyanidation (24 hrs.) BS203 61 0.86 94.0 0.08
Gravity (2-Pass) BS201 61 (after grind) 0.86 43.4 0.52
Gravity + Float BS201 & BS202 61 (after grind) 0.86 81.7 0.21
Flotation BS102 220 1.42 68.7 0.54
Flotation BS103 141 1.42 67.0 0.51
Flotation BS104 77 1.42 76.2 0.37
The samples were subject to the following preparation and test procedures at the internationally respected Met-Solve Laboratories which is a mineral and metallurgical testing facility equipped to provide a wide range of testing services. Their team consists of Professional Engineers and Metallurgists who work with each client to ensure that their unique needs are supported at various levels of process development to meet the project objectives:
1. Crushing and rotary splitting
2. 4.0 kg flotation test at three different grind sizes (P80 = 220 μm, 141 μm, 77 μm)(µm=microns)
3. A 48-hour bottle roll cyanidation test (P80 = 77 μm)
4. Specific gravity test via pycnometer method using kerosene S.G. Result = 2.68
5. A 2-Stage, 4 kg, GRG test using a laboratory scale Falcon L40 centrifugal concentrator, with intermediate grinding between stages.
6. Flotation test on the gravity tails
It is also encouraging that first pass low-cost gravity recovered gold is of 43.4% of contained gold.
The head grade varied from 0.86 g/tonne Au to 1.42 g/tonne Au and 46.5 g/tonne Ag to 26.3 g/tonne Ag, 0.168% Pb to 0.03% Pb, 0.376% Zn to 0.585% Zn. The metallurgical samples consisted of 2 representative composites from drill holes HS-97-01 and 90-2 (see news release October 29, 2012 re: check assays and June 18, 2012).
Mr. Alex Lum, P.Eng., Senior Metallurgist with Met-Solve Laboratories Inc. concludes: “The Electra Gold test program demonstrated that good gold recoveries can be achieved resulting in low final tails grade. Based on the promising results of the gravity, flotation, and cyanidation tests, there is potential for improved gold recovery especially on higher grade material as similarly low tails grade can be expected.”
The entire metallurgical report, including detail assays and graphs, will be posted to the Electra website (www.electragoldltd.com) in the next few days under the Golden Ridge Project tab.
The Company has terminated the option agreement on the DOT-Apex claims.
About Electra Gold Ltd.
Electra Gold Ltd. was incorporated in 1976 and has since September 2003 been in continuous production with a cement raw material operation on North Vancouver Island and operated the Aurora Gold Mine in Nevada in the 1990’s. Electra also has a portfolio of promising gold properties in BC. And Ontario.
For further information on Electra Gold Ltd. please visit www.electragoldltd.com or contact:
Jo Shearer, President
Tel: 604-696-1022 Fax: 604-944-6102
On behalf of the Board of Directors,
J. T. Shearer
President, Director
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to Electra Gold Ltd., please refer to the Company''s 2011 Annual Financials filed with SEDAR on April 24, 2012.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
For further information, please contact Jo Shearer, President at 604-970-6402, please see website at www.electragoldltd.com