Kettle River Resources Ltd. (TSX VENTURE: KRR) (the "Company") announces that Jeffrey B. Austin, P.Eng., President of International Metallurgical and Environmental Inc., has been contracted to review the economics of processing the 100% owned Phoenix tailings material in the Greenwood Area.

The Phoenix mine operated an open pit copper/gold mine and historic production records show approximately 12 million tonnes of tailings reside in two tailings storage facilities at the Phoenix mine site. Kettle River Resources Ltd. owns the former Phoenix minesite and the associated tailings deposits.

Although the tailings materials stored at site do not have a National Instrument 43-101 compliant resource estimate, the Company has historical reports and studies showing gold values that range from 0.2 g/t gold to 0.6 g/t gold. Higher gold values are shown to be more prevalent in areas with coarse tailings, associated with tailings dam construction using traditional cyclone technology to classify tailings.

Historically, the Phoenix Mine processed ore with a 0.98 percent copper and 1.1 g/t gold content. Historic gold recovery was in the range of 65 percent of the contained gold in a high-grade copper concentrate.

Historically, gold recovery in the Phoenix milling process was significantly lower than the copper recovery due to a portion of the available gold being associated with non-copper sulphide mineralization (typically pyrite). These sulphides, which are available in the tailings materials, can be concentrated by flotation processes to produce a gold bearing concentrate assaying in the range of 15 to 30 grams per tonne gold. The tailings contain about 3 percent sulphide mineralization by weight.

With the current price of gold in the range of 1200 dollars per ounce, lower grade gold resources are becoming more valuable, and this project has many attractive facets which the Company is currently reviewing.

Jeffrey B. Austin, P.Eng., is the Qualified Person as defined by National Instrument 43-101 on the project, and has reviewed and approved the content of this release.

ON BEHALF OF THE BOARD

Ellen Clements, President and Chief Executive Officer

Caution Regarding Forward-Looking Statements -- This news release may contain certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Contacts: Kettle River Resources Ltd. Ellen Clements (250) 445-6756 or Toll Free: 1-800-856-3966 (250) 445-2259 (FAX) kettle2005@shaw.ca www.kettleriver.com

Kettle River Resources Ltd. (TSXV:KRR)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024 Kettle River Resources Ltd. 차트를 더 보려면 여기를 클릭.
Kettle River Resources Ltd. (TSXV:KRR)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024 Kettle River Resources Ltd. 차트를 더 보려면 여기를 클릭.