Pershing Gold Announces High Gold Recoveries for Column Leach Tests on Relief Canyon Samples
12 Mayo 2014 - 7:00AM
Pershing Gold Corporation (OTCQB:PGLC) ("Pershing Gold" or the
"Company") is pleased to announce the preliminary results of column
leach tests on gold-bearing samples from the Relief Canyon Mine
property in Pershing County, Nevada. These results show higher gold
recoveries than the previous mine operators achieved and also
indicate that this mineralized material leaches quickly. A column
comprised of a master composite of drill core samples that was
designed to simulate the blend of the different mineralized
materials to be leached in the future at Relief Canyon yielded
79.2% gold recovery in 71 days of leaching.
The Company achieved higher recoveries from columns built with
limestone breccias and clay-matrix breccias, the two rock types
that contain most of the gold mineralization in the Main Zone of
the Relief Canyon deposit. A column of the limestone breccia
yielded 85.7% gold recovery after 70 days of leaching. Two columns
of the clay-matrix breccia produced excellent recoveries, with one
column achieving a 91.3% gold recovery and the other reaching 78%
recovery after a 70-day leaching period.
McClelland Laboratories, Inc. ("McClelland Labs") of Sparks,
Nevada, one of the foremost metallurgical testing facilities in the
gold mining industry, performed the heap leach cyanidation tests.
They tested eight columns of drill core samples that were crushed
to 80% passing -3/4" mesh sieve size. This crush size matches the
capabilities of the crushing equipment in place at Relief Canyon.
The crushed samples were agglomerated with cement and loaded into
8-inch diameter by 20 foot-high columns. Experts at McClelland and
Pershing Gold's technical staff designed the testing program to
determine gold and silver recoveries, recovery rates, and reagent
requirements as well as to provide information about the leaching
characteristics of the various gold-bearing rock types at the
Relief Canyon deposit
"The results from the column leach tests are a real game changer
for the Relief Canyon deposit because these recoveries are so much
higher than what has been reported for the two operators that mined
the deposit in the 1980s," stated Stephen Alfers, CEO and President
of Pershing Gold. As discussed in RPA's 2013 NI 43-101 Technical
Report for the Relief Canyon Mine [See Press Release dated January
24, 2013], Lacana Mining Inc. reportedly realized just 45% to 48%
gold recovery from its run-of-mine heap leach operation. The next
operator, Pegasus Gold Corporation, achieved 65% to 70% recoveries
from crushed and agglomerated ores during the 1987–1988
timeframe.
"The high gold recoveries achieved in the McClelland Labs
testing program provide evidence that the Relief Canyon gold
deposit is highly amenable to heap leach processing. Additionally,
the column leach tests yielded another positive result; leaching
occurs very quickly – in as little as 71 days, which is great news.
Prior to conducting these tests, we did not have much information
about leaching rates at Relief Canyon," explained Stephen Alfers.
The master composite column was constructed using composited
samples of each gold-bearing rock type in the Relief Canyon deposit
in amounts proportional to the distribution of these rock types in
the currently defined deposit. The Company believes the 79.2% gold
recovery from the master composite column can be used to estimate
the average recovery that future heap leaching may achieve.
Similarly, the 71-day leaching period for the master composite
column can be used to assess probable leaching cycles for future
heaps at Relief Canyon.
"The very favorable results from the column leach tests will
certainly enhance project economics and are an important step in
moving the Relief Canyon Mine forward to production," said Stephen
Alfers. "We will be using the results from the finalized tests in
future economic analyses."
Leaching is still underway for a column comprised of jasperoid
material. The column leach test also included a column dedicated
for environmental testing that is still being evaluated and a
second composite column that was blended with 10% by weight of
materials leached by previous operators. This column yielded 72.7%
recovery after 70 days of leaching, indicating that there is
minimal recoverable gold in the previously leached materials. The
eighth column tested materials that did not yield high gold
recoveries in previous metallurgical tests and confirmed that this
material is not amenable to heap leaching. Pershing Gold
anticipates that the column leach test results will be finalized
this summer and will be announced in a future news release.
Scientific and Technical Data
All scientific and technical information related to the column
leach cyanidation tests for the Relief Canyon Mine has been
reviewed and approved by Daniel B. Moore, Nevada Registered
Professional Engineer and Vice President and General Manager of the
Relief Canyon Mine. Mr. Moore is a Qualified Person under the
definitions established by Canadian National Instrument 43-101.
Mr. Earl Shortridge (MS, Metallurgy, Colorado School of Mines),
the Company's in-house metallurgical expert, helped design and
supervise the column leach metallurgical testing program and has
reviewed the tests results. McClelland Laboratories, Inc. crushed
and composited the samples using drill core samples provided by
Pershing Gold geologists, filled the columns, performed the column
leach tests, and supervised subsequent handling and analysis of the
leached materials.
About Pershing Gold Corporation
Pershing Gold is an emerging Nevada gold producer on a
fast-track to re-open the Relief Canyon Mine, which includes three
open-pit mines and a state-of-the-art, fully permitted and
constructed heap leach processing facility. Pershing Gold's
landholdings cover over 25,000 acres that include the Relief Canyon
Mine asset and lands surrounding the mine in all directions. This
land package provides Pershing Gold with the opportunity to expand
the Relief Canyon Mine deposit and to explore and make new
discoveries on nearby lands.
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934.
All statements, other than statements of historical fact,
including, without limitation, those with respect to the
objectives, plans and strategies of the Company set forth herein
including the planned reopening and recommissioning of the Relief
Canyon mine and processing facilities, preliminary results of
column leach tests and their significance in estimating potential
future gold recoveries, amenability to heap leaching and speed of
leaching, and project economic analyses, and other geologic
information at Relief Canyon and those preceded by or that include
the words "believes," "expects," "given," "targets," "intends,"
"anticipates," "plans," "projects," "forecasts" or similar
expressions, are "forward-looking statements." Although the
Company's management believes that such forward-looking statements
are reasonable, it cannot guarantee that such expectations are, or
will be, correct. These forward-looking statements involve a number
of risks and uncertainties, which could cause the Company's future
results to differ materially from those anticipated. Potential
risks and uncertainties include, among others, whether the
preliminary results reported are supported by additional technical
work and prove to be indicative of the results of potential future
operations, inability to obtain external financing to fund the
development of plans for and the reopening and commencement
of production at the Relief Canyon Mine, changes in interpretations
of the preliminary results reported or other technical data;
interpretations or reinterpretations of geologic information or
unfavorable exploration results that could negatively affect
estimates of mineralized material and resources, metallurgy or
other technical parameters; delay or inability to obtain permits
required for planned production, including permits to mine the
deposit below the water table, for exploration and other
activities; potential inability to reopen the Relief Canyon Mine
under the currently approved Plan of Operations; general economic
conditions and conditions affecting the industries in which the
Company operates; the uncertainty of regulatory requirements and
approvals; fluctuating mineral and commodity prices; risks of
junior exploration and pre-production activities; and maintenance
of important business relationships. Additional information
regarding the factors that may cause actual results to differ
materially from these forward-looking statements is available in
the Company's filings with the SEC including the Annual Report on
Form 10-K for the year ended December 31, 2013. The Company
assumes no obligation to update any of the information contained or
referenced in this press release.
CONTACT: For more information, please contact:
Jack Perkins
Vice President, Investor Relations
720.974.7254
investors@pershinggold.com
www.PershingGold.com
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