3rd Feb 2014 10:31
LONDON (Alliance News) - Metminco Ltd Monday announced the results of its column leach testwork studies at the Mollocas Copper Leach Project in Chile.
The exploration and development copper-mining company with operations in Peru and Chile, said the results showed a recovery rate of roughly 85% of the average sequential assayed copper grade for the deposit should be achievable.
A column leach test takes an ore sample to test the results that can be expected from the scaling up of a commercial heap leaches operations.
The results also showed the recovery rate of supergene ore could be as high as 90%.
The company said that a low acid consumption in the range of 12 kilograms per tonne to 14 kilograms per tonne was achieved during the tests, a significant reduction on previous testwork.
Metminco said the results will have a significant, positive impact on the economics of the project and results will form the basis for a detailed mine and processing design, used to complete a Feasibility Study and the Environmental Impact Study, both expected for completion in the fourth quarter 2014.
The company also noted that discussions with a number of interested parties on the future funding of its Los Calatos project in Peru are advancing with certain meetings in Peru during February 2014.
Metminco shares were up 5.1% to 1.75 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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