TSX: AUE
AIM: AUE
TORONTO, Dec. 10, 2013 /CNW/ - Aureus Mining Inc. (TSX: AUE) (AIM: AUE)
("Aureus" or the "Company") is pleased to announce preliminary
metallurgical results for its Ndablama and Weaju Gold projects
("Ndablama", "Weaju"), located within the Northern Block of the
Company's 100% owned Bea Mountain Mining licence in Liberia, and within
25 to 30 kms of the New Liberty gold project. These results follow the
announcement by the Company on 11 November 2013 of maiden resources for
Ndablama and Weaju, together exceeding a total of 600,000 ounces of
gold. The metallurgical testwork was performed by ALS laboratories in
Perth, Australia under the supervision of DRA Mineral Projects (Pty)
Ltd ("DRA").
Highlights
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Preliminary testwork was conducted on bulk composite samples from
Ndablama and Weaju drill cores to test the metallurgical response of
the oxide and sulphide material to a gravity / leach treatment route
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For Ndablama, cyanide leach tests for both the oxide and sulphide
material returned overall gold recoveries of respectively 92% and 94%.
A 70% gravity recovery was obtained for the sulphide material
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For Weaju, gravity / cyanide leach testwork for the oxide material
returned recoveries between 92% and 98% across all cyanidation tests
conducted. For the sulphide material, recoveries between 89% and 93%,
depending on the head grade, were obtained across all
gravity / cyanidation tests conducted. Gravity recoveries for both the
oxide and sulphide material returned values ranging from 39% to 48%
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Both the Ndablama and Weaju ores are deemed to be amenable to gravity
recovery and direct cyanidation using a Carbon in Leach process.
Further detailed gravity / leach testwork will be undertaken in the
future to assess if there is any variability in metallurgical response
across these mineralised bodies
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Further exploration drilling is currently in progress at Ndablama
Commenting on the metallurgical results, David Reading, President and
Chief Executive Officer of Aureus Mining Inc., said:
"The results from the metallurgical tests from Ndablama and Weaju
further demonstrate the quality of Aureus' assets. With the New
Liberty gold project rapidly progressing towards production, and with
the potential for significant upside including the Ndablama and Weaju
deposits, Liberia is demonstrating its credentials as the new gold
district in West Africa."
Ndablama
DRA scoped and managed scouting testwork on the Ndablama orebody at the
request of the Company. Testwork was conducted at ALS Laboratories in
Perth, Australia (ALS), and limited to assessing the amenability of the
ore to cyanidation.
Representative samples of oxide and sulphide material were selected by
the Company geologists and dispatched to ALS. Bulk composites of oxide
and sulphide material were constructed giving average head grades of
0.91g/t and 2.21g/t of gold for the oxide and sulphide material
respectively.
Two leach tests incorporating gravity recovery stages were conducted on
each bulk composite. Both the oxide and sulphide material are deemed to
be amenable to cyanidation with average residue grades of 0.08g/t and
0.14g/t of gold obtained for oxide and sulphide material respectively.
This returned overall gold recoveries ranging between 92% and 94% for
the oxide and sulphide material, from head grades of 0.91g/t and
2.21g/t of gold respectively. Recoveries may vary according to head
grades and further variability leaches will be conducted in the future
to assess gold recovery variation across the Ndablama deposit.
Additionally, the sulphide material in particular returned a gravity
recovery of 70%, which could be exploited to positive effect in the
process plant design.
Weaju
As the testwork scoped and managed by DRA was preliminary, only aspects
of the gravity / leach circuit regarded as key to the success of the
process were investigated. These included the grindability of the
sulphide material and the leachability of both the sulphide and oxide
material.
The Weaju sulphide ore gave a Bond BWi of 16.7 kwh/t and no problems are
foreseen with achieving a primary grind of p80 75microns, as well as a
regrind of P80 45microns, should this be required.
Both the Weaju oxide and sulphide composites, as supplied and tested,
are deemed to be amenable to gravity recovery and cyanidation. The head
grade of the oxide composite was 3.3 g/t of gold and the sulphide
composites ranged between 5.5 and 6.1 g/t of gold. Gravity recoveries
ranging from 39% to 48% were obtained for the oxide composite. For the
sulphide composite, gravity recoveries between 40 to 48% were obtained.
For the oxide composite, residue grades ranging between 0.05g/t to
0.21g/t of gold giving recoveries between 92% and 98%, depending on the
head grade, were obtained across all gravity / cyanidation tests
conducted. For the sulphide composite, residue grades ranging between
0.55g/t to 0.31g/t of gold giving recoveries between 89% and 93%,
depending on the head grade, were obtained across all
gravity / cyanidation tests conducted. An acidic pre-oxidation stage,
in addition to a lime pre-oxidation stage, was required to obtain a
0.31g/t of gold residue on the sulphide composite to achieve a 93%
recovery.
Further gravity / leach testwork will be undertaken to comprehensively
confirm the metallurgical response across the Weaju deposit and to
assist with plant design and evaluation of recovery and reagent
consumption. Additional work covering modelling of the gravity circuit,
settling tests, cyanide destruction and arsenic precipitation tests
together with kinetic column leaching will also be undertaken in the
future.
About Aureus Mining Inc.
The Company's assets include the New Liberty gold deposit in Liberia
(the "New Liberty Gold Project" or the "Project"), which has an
estimated proven and probable reserve of 924,000 ounces of gold grading
3.4 g/t and an estimated measured and indicated mineral resource of
1,143,000 ounces of gold grading 3.63 g/t and an estimated inferred
mineral resource of 593,000 ounces of gold grading 3.2 g/t. A
Definitive Feasibility Study has been completed on the Project and
construction has commenced with initial earthworks. The Project is
expected to have an 8 year mine life and annual production of 119,000
ounces for the first 6 years of production. The Company has financed
the Project's equity funding requirement, has mandated two banks for a
project debt facility that have received credit committee approval, and
has mandated one bank for a subordinated debt facility.
The New Liberty Gold Project is located within the Southern Block of the
100% owned Bea Mountain mining licence. This licence covers 457 km2 and has a 25 year, renewable, mineral development agreement. The North
Block of the Bea Mountain mining license also hosts additional gold
projects of Ndablama, Gondoja and Weaju, which are the focus of
exploration programs during 2013. Ndablama has an inferred mineral
resource of 451,000 ounces of gold grading 2.1 g/t and Weaju has an
inferred mineral resource of 178,000 ounces of gold grading 2.1 g/t.
The Archaen Gold exploration licence, which covers 89 km2, is also a focus of exploration for 2013, with Leopard Rock being the
main target. The Yambesei (759 km2), Archaen West (112.6 km2), Mabong (36.6 km2) and Mafa West (15.6 km2) licences will also be subject to preliminary reconnaissance geological
work.
The Company also has gold exploration permits in Cameroon.
Qualified Person
Information in this report that relates to Metallurgical Test Work
Results is based on information compiled by Glenn Bezuidenhout of DRA
Mineral Projects (Pty) Ltd. Glenn Bezuidenhout is a Fellow of SAIMM,
and has sufficient experience, which is relevant to the style of
mineralization and type of deposit under consideration, and to the
activity which he is undertaking to qualify as a Competent Person as
defined by the NI-43-101 (National Instrument Code for the TSX). Glenn
Bezuidenhout consents to the inclusion in this report of the statements
based on his information in the form and context in which it appears.
Forward-looking Statements
This press release contains certain forward-looking information. All
information, other than information regarding historical fact, that
addresses activities, events or developments that Aureus Mining
believes, expects or anticipates will or may occur in the future is
forward-looking information. Forward-looking information contained in
this press release includes, but may not be limited to, the future
plans and objectives of Aureus Mining and their anticipated future
growth, mineral resource estimates and the anticipated exploration and
development activities of Aureus Mining. The foregoing and any other
forward-looking information contained in this press release reflects
the current expectations, assumptions or beliefs of Aureus Mining based
on information currently available to Aureus Mining. With respect to
the forward-looking information contained in this press release, Aureus
Mining has made assumptions regarding, among other things: general
business, economic and mining industry conditions; and it has also been
assumed that no material adverse change in the price of precious and/or
base metals occurs, no unusual geological or technical problems occur
and no significant events occur outside of the normal course of Aureus
Mining's respective business.
Such forward-looking information is subject to a number of risks and
uncertainties that may cause actual results or events to differ
materially from current expectations, including: risks normally
incidental to exploration and development of mineral properties;
uncertainties in the interpretation of results from drilling and test
work; the possibility that future exploration, development or mining
results will not be consistent with expectations; uncertainty of
mineral resources estimates; adverse changes in precious and/or base
metal prices; and future unforeseen liabilities and other factors
including, but not limited to, those listed under "Risk Factors" in the
Annual Information Form of Aureus Mining Inc. dated March 20, 2013 a
copy of which is available on SEDAR at www.sedar.com, and in the Aureus Mining Admission Document, a copy of which is
available at www.aureus-mining.com.
Any mineral resource figures referred to in this press release are
estimates and no assurances can be given that the indicated levels of
minerals will be produced. Such estimates are expressions of judgment
based on knowledge, mining experience, analysis of drilling results and
industry practices. Valid estimates made at a given time may
significantly change when new information becomes available. While
Aureus Mining believes that the mineral resource estimates in respect
of their respective properties are well established, by their nature
mineral resource estimates are imprecise and depend, to a certain
extent, upon statistical inferences which may ultimately prove
unreliable. If such mineral resource estimates are inaccurate or are
reduced in the future, this could have a material adverse impact on
Aureus Mining, as applicable. Due to the uncertainty that may be
attached to inferred mineral resources, it cannot be assumed that all
or any part of an inferred mineral resource will be upgraded to an
indicated or measured mineral resource as a result of continued
exploration.
Forward-looking information speaks only as of the date on which it is
made and, except as may be required by applicable law, Aureus Mining
disclaims any obligation to update or modify such forward-looking
information, either as a result of new information, future events or
for any other reason.
SOURCE Aureus Mining Inc.
