The work completed involved the detailed visual analysis of all holes (37) drilled by the Company into the mineralized zone and is in addition to the stage 1 Ore-Sorting analysis reported in news release date
The Cumo Deposit is a vein stockwork deposit with the vast majority of the contained metals (Mo, Cu, Ag, Re and W) occurring within very thin veins and veinlets, irregularly spread throughout the deposit. This means that the largest part of potentially mined material will be waste, and a smaller portion will be mill feed. The Company intends to utilize and optimize industry-proven ore-sorting technology, which is designed to remove a large percentage of the waste before it enters a mill for further processing. Since a large part of the waste is being removed, ore sorting also substantially improves the grade of the material being fed to a mill. Importantly, the elimination and removal of significant percentages of waste material prior to processing provides the ability to utilize a smaller mill or concentrator than would be needed without ore sorting, which further translates into potentially material savings in capital and operating expenditures. Stage 1 ore sorting tests successfully established that X-ray fluorescence (XRF) can be used to identify the grade of mined material and thereby eliminate and divert away from the mill significant portions of waste material.
The current work completed involves the detail visual analysis to determine the percentage of the material in the drill holes that contains the actual metals, expanding on the stage 1 testing. A total of 62,319 feet of core in 37 drill holes were separated into one of three geologic zones previously identified and examined based on the 50-foot bench composites used to calculate the current resources. Each 50-foot composite was broken down into 3-inch sections (75 mm). Visually, it was determined, if the individual piece contained any metal bearing veins/veinlets, the number and thus the total length of metal bearing material was determined. The results of the analysis show that overall, approximately 16% of the identified resource contains the largest part of the metals in the deposit.
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This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation including, but not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, such the Company's ability to move its
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