AuEx Ventures, Inc.: Long Canyon Metallurgical Results
28 Junio 2010 - 6:00AM
Marketwired
AuEx Ventures, Inc. (TSX: XAU) ("AuEx" or the "Company") is pleased
to report that more detailed metallurgical tests confirm the
recovery rate of the mineralization at Long Canyon is amendable to
low-cost conventional, heap leach processing. Long Canyon is an
emerging oxide gold deposit located in northeast Nevada.
-- Metallurgical results demonstrate excellent gold recoveries
-- Aggressive resource definition and expansion
Fronteer Gold Inc. ("Fronteer") reported to the Company that
twenty-one core composites from three cross-sections drilled in May
2009 were submitted to McClelland Laboratories Inc. in Sparks,
Nevada, for more comprehensive metallurgical testing, including:
bottle-roll and column leach tests, permeability, flotation,
gravity and comminution testing. The metallurgical tests provided a
more detailed understanding of gold recoveries than what was
previously provided by column-leach testing of bulk samples taken
exclusively from road cuts. Composites were column-leach tested
using crush sizes of: 80% passing -12.5mm, -25mm and -50mm crush
sizes to determine gold recovery, recovery rate and reagent
requirements under simulated heap leach conditions. Of composite
material representing 82% of the deposit's total ounces, column
leach gold recoveries for high- and medium-grade samples (greater
than 1.26 g/t gold) averaged 88% for -12.5mm, 87% for -25mm and 85%
for -50mm crush sizes. A portion of the low-grade (less than 1.26
g/t gold) rock-types exhibited sensitivity to crush size and
achieved lower recoveries than the high- and medium-grade
composites. However, these rock-types represent approximately 8% of
the deposit's contained ounces based upon current geologic
interpretation. The majority of gold leaching (greater than 80%
leachable gold) occurred within a 10 to 40 day period with the
coarser columns taking a little longer than the finer crushed
columns.
Hydraulic conductivity measurements were two orders of magnitude
higher than typical heap percolation rates indicating that no
solution flow problems are anticipated for any of the composites
tested. The composites did not respond well to flotation or gravity
concentration likely owing to its totally oxidized nature and lack
of any significant elemental gold. Comminution tests showed that
the composites have low hardness and abrasion index numbers,
compared to the majority of gold milling operations processing
whole rock material around the world. Low energy input and low
materials wear rates are expected if a mill is needed for
processing all or a portion of the Long Canyon resource.
As part of the $19.8-million development/exploration program
aggressive resource definition and expansion continues at Long
Canyon with six drill rigs currently operating on site and at least
45,000 metres of drilling planned, with an emphasis on resource
definition and resource expansion. In addition the required
metallurgical, engineering, and environmental work necessary to
move Long Canyon to pre-feasibility stage will be conducted.
Fronteer is majority owner (51%) and operator of Long Canyon in
joint-venture with the Company (49%).
Ronald L. Parratt, Certified Professional Geologist, is the
Company's designated Qualified Person for this news release.
AuEx Ventures, Inc. is a precious metals exploration company
that has a current portfolio of nineteen exploration projects in
Nevada, one project in Utah, four projects in Argentina and one
project in Spain. The Company controls about 167,000 acres of
unpatented claims and fee land in prospective areas of Nevada.
Fifteen of the projects are in exploration earn-in or formal joint
venture agreements with eight companies who provide exploration
funding. The Company applies the extensive exploration experience
and high-end technical skills of its founders to search for and
acquire new precious metal exploration projects that are then
offered for joint venture. AuEx is listed on the Toronto Stock
Exchange under the symbol XAU.
AuEx Ventures, Inc.
Ronald L. Parratt, President & CEO
This release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. All statements in
this release, other than statements of historical facts, that
address future production, reserve potential, exploration and
development activities and events or developments that the Company
expects, are forward-looking statements. Although the management of
AuEx 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 or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploration and development successes,
continued availability of capital and financing, and general
economic, market or business conditions. Please see our public
filings at www.sedar.com for further information.
This press release uses the terms "indicated resources" and
"inferred resources", which are calculated in accordance with the
Canadian National Instrument 43-101 and the Canadian Institute of
Mining and Metallurgy Classification system. We advise investors
that while those terms are recognized and required by Canadian
regulations, the U.S. Securities and Exchange Commission does not
recognize them. U.S. investors are cautioned not to assume that any
part or all of mineral deposits in these categories will ever be
converted into reserves. In addition, "Inferred resources" have a
great amount of uncertainty as to their existence, and great
uncertainty as to their economic and legal feasibility. It cannot
be assumed that all or any part of an Inferred Mineral Resource
will ever be upgraded to a higher category. Under Canadian rules,
estimates of Inferred Mineral Resources may not form the basis of
feasibility or pre-feasibility studies, except in rare cases. U.S.
investors are cautioned not to assume that part or all of an
inferred resource exists, or is economically or legally
minable.
Contacts: AuEx Ventures, Inc. Ronald L. Parratt 775-337-1545
rparratt@auex.com www.auex.com
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