Confederation Receives Favorable Initial Metallurgical Testing Results from Newman Todd: Mobilizes Crew for 2013 Summer Program
09 7월 2013 - 12:21AM
Access Wire
Vancouver, B.C.; July 8th,
2013; Confederation Minerals Ltd. (TSX.V:CFM, OTCQX:CNRMF ): ("Confederation" or the "Company")
is pleased to announce initial metallurgical testing
results of material from the Newman-Todd project have been
received. Confederation has the option to earn a 70% interest in
the Newman Todd project, in Northwestern Ontario, from Redstar Gold
Corp. (RGC:TSX.V).
The metallurgical tests were done by
SGS Labs on composite samples of drill core selected to be
representative of gold mineralization being delineated within the
structure. Tests included gravity concentration (9 tests) followed
by rougher flotation (34 tests) and cleaner flotation (21 tests).
These initial results suggest a 93% gold recovery for head grades
above 1.5 g/t Au and 85% gold recovery for the range 1.0g/t to
1.5g/t Au.
Metallurgical results will be
incorporated into the Preliminary Economic Assessment currently
underway and planned for completion by the end of Q3 2013. The
metallurgical work is being overseen for Confederation Minerals by
metallurgist Daniel Sepulveda of Moose Mountain Technical
Services.
As work on the Newman-Todd Project
continues, a 3,000 metre drilling program is expected to be
underway shortly. Field crews are currently being mobilized with
drill crews expected at site within the next week. Initial holes
are targeted to follow up on higher-grade intercepts located in
holes reported on in the Confederation press releases of May 1,
2013 and July 3, 2013. In addition to drilling, some exposure of
the NTS followed by surface sampling and geological mapping is also
planned.
"These favorable
results underscore the long established history of Red Lake as
world class gold camp and further bolster our excitement in the
Newman Todd Project. In the context of both volatility in the gold
markets, and an out of favor market for junior gold explorers, this
project continues to deliver results that support world class
potential." Lawrence Dick, CEO Confederation Minerals.
This press release was written by:
Lawrence Dick, P.Geo, Ph.D.
Ralph Bullis, P.Geo,
is the Qualified Person as defined by National Instrument 43-101
and has reviewed the technical content relating to the disclosed
drill results in this news release. Core samples from the program
were cut in half using a diamond cutting saw and were sent to
Activation Laboratories Ltd. in Red Lake, Ontario, an accredited
mineral analysis laboratory. All samples were analyzed for gold
using standard Fire Assay-AA techniques. Samples returning over 3.0
g/t gold were analyzed utilizing standard Fire Assay-Gravimetric
methods. Certified gold reference standards, blanks, and field
duplicates were routinely inserted into the sample stream as part
of Confederation's quality control/quality assurance
program.
About CFM
Confederation Minerals Ltd. is a
British Columbia based company engaged in the business of
acquisition, exploration and development of mineral properties. Its
objective is to locate and develop economic precious and base
metals properties of merit. Confederation Minerals Ltd. holds an
Option Agreement to acquire up to 70% of the Newman Todd project in
the Red Lake Mining District of Northern Ontario, as well as 100%
ownership in another property in the Red Lake Mining District of
Ontario.
On Behalf of the Board:
"Brian Bapty"
Brian Bapty, Ph.D.
President and Director
CORPORATE INQUIRIES
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Brian Bapty, President and Director
604-652-3950
brian.bapty@confederationmineralsltd.com
www.confederationmineralsltd.com
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Information
This
news release includes certain statements that may be
deemed "forward-looking statements". All statements in this news
release, other than statements of historical facts, that address
events or developments that the Company expects to occur, are
forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "proposes", "project",
"potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in the forward-looking statements. Factors
that could cause the actual results to differ materially from those
in forward-looking statements include market prices, exploitation
and exploration successes, and continued availability of capital
and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable securities laws, the Company
undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
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