Kettle River Resources Ltd. Begins Investigation of Gold Recovery from Phoenix Tailings in Greenwood, B.C.
August 06 2010 - 8:00AM
Marketwired
Kettle River Resources Ltd. (TSX VENTURE: KRR) (the "Company")
announces that Jeffrey B. Austin, P.Eng., President of
International Metallurgical and Environmental Inc., has been
contracted to review the economics of processing the 100% owned
Phoenix tailings material in the Greenwood Area.
The Phoenix mine operated an open pit copper/gold mine and
historic production records show approximately 12 million tonnes of
tailings reside in two tailings storage facilities at the Phoenix
mine site. Kettle River Resources Ltd. owns the former Phoenix
minesite and the associated tailings deposits.
Although the tailings materials stored at site do not have a
National Instrument 43-101 compliant resource estimate, the Company
has historical reports and studies showing gold values that range
from 0.2 g/t gold to 0.6 g/t gold. Higher gold values are shown to
be more prevalent in areas with coarse tailings, associated with
tailings dam construction using traditional cyclone technology to
classify tailings.
Historically, the Phoenix Mine processed ore with a 0.98 percent
copper and 1.1 g/t gold content. Historic gold recovery was in the
range of 65 percent of the contained gold in a high-grade copper
concentrate.
Historically, gold recovery in the Phoenix milling process was
significantly lower than the copper recovery due to a portion of
the available gold being associated with non-copper sulphide
mineralization (typically pyrite). These sulphides, which are
available in the tailings materials, can be concentrated by
flotation processes to produce a gold bearing concentrate assaying
in the range of 15 to 30 grams per tonne gold. The tailings contain
about 3 percent sulphide mineralization by weight.
With the current price of gold in the range of 1200 dollars per
ounce, lower grade gold resources are becoming more valuable, and
this project has many attractive facets which the Company is
currently reviewing.
Jeffrey B. Austin, P.Eng., is the Qualified Person as defined by
National Instrument 43-101 on the project, and has reviewed and
approved the content of this release.
ON BEHALF OF THE BOARD
Ellen Clements, President and Chief Executive Officer
Caution Regarding Forward-Looking Statements -- This news
release may contain 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
materially from those in the forward-looking statements include
unsuccessful exploration results, changes in metal prices, changes
in the availability of funding for mineral exploration and
development, unanticipated changes in key management personnel and
general economic conditions. 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.
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: Kettle River Resources Ltd. Ellen Clements (250)
445-6756 or Toll Free: 1-800-856-3966 (250) 445-2259 (FAX)
kettle2005@shaw.ca www.kettleriver.com
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