Mansfield Minerals Inc.: Prefeasibility Study Update, Lindero Oxide Gold Deposit, Salta Province, Argentina
18 Septiembre 2009 - 10:36AM
Marketwired
Mansfield Minerals Inc. (Mansfield or the "Company") (TSX VENTURE:
MDR) is pleased to provide a prefeasibility study update on the
Lindero heap leach oxide gold deposit, Salta Province, Argentina.
AMEC Americas Limited is over-seeing completion of this study with
a delivery date currently projected in late Q4 2009. The Lindero
gold deposit hosts an NI 43-101 compliant measured and indicated
oxide gold resource of 70.3 MT grading 0.72 grams/tonne containing
1.6 million oz gold. There is an additional 270,000 oz gold at 0.61
grams/tonne in the inferred category (Golder Associates, 2008). The
afore-mentioned resources are calculated at a cut-off grade of 0.45
grams/tonne gold.
The AMEC prefeasibility study is presently modeling an open-pit
heap-leach operation which suggests a mining rate (total material
moved) ranging from 12 to 22 million tonnes per annum, delivering 7
to 9 million tonnes per year to the leach pad at strip ratios in
the 1.0 to 1.3 to 1 range. The above projections are based upon the
project metrics that are presently known, however the Company
cautions that the mineral resources are not mineral reserves and
have not been demonstrated to be economically viable.
Metallurgical studies are ongoing at Kappes Cassiday &
Associates in Reno, Nevada, under the supervision of American Au Ag
Associates. A high pressure grinding roll system appears to be the
appropriate crushing system to optimize costs, recoveries, and
project economics. Heap leach oxide gold recovery is estimated at
70%+ (previously announced). The Lindero gold deposit carries an
average copper grade in the range of 0.10%. Leach tests by Kappes
Cassiday show a copper content in leach solution of 153.3 ppm, well
below the threshold at which the copper content could be of concern
with respect to the gold recovery and cyanide consumption. The
Company does not plan on recovering copper.
The Company has engaged Vector Argentina S.A., a division of an
international engineering group, to commence the mine permitting
process.
This news release has been reviewed by Gordon P. Leask, P.Eng.,
President and CEO of the Company, and a Qualified person ("QP") as
defined by National Instrument 43-101 (Standards of Disclosure for
Mineral Projects).
About Mansfield Minerals Inc. Mansfield is a mining exploration
company which has focused its activities in northwestern Argentina
since August 1994. The Company is currently progressing with its
pre-feasibility study on the Lindero gold project.
On behalf of the Board of Directors,
Gordon P. Leask, President & CEO
Caution Regarding Forward-Looking Statements - This news release
contains 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 martially from those in
forward-looking statements include changes in metal prices, changes
in the availability of funding, unanticipated changes in key
management personnel and general economic conditions. Mining is an
inherently risky business. Accordingly the actual events may differ
martially from those projected in the forward-looking statements.
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.
The TSX Venture does not accept responsibility for the adequacy
or accuracy of this release.
Contacts: Mansfield Minerals Inc. Gordon P. Leask President
& CEO (604) 681-4462 (604) 681-0180 (FAX)
info@mansfieldminerals.com www.mansfieldminerals.com
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