Searchlight Minerals Engages Mountain States R&D International to Independently Verify Precious Metals Circuit at Clarkdale Slag
May 07 2009 - 5:00AM
Marketwired
Searchlight Minerals Corp. (OTCBB: SRCH) (the "Company"), an
exploration stage minerals company focused on the acquisition and
development of projects in the southwestern United States, today
announced that it has selected Mountain States R&D
International, Inc. ("MSRDI"), a Tucson-based metallurgical
consulting firm, to independently determine whether gold and silver
can be recovered from the Clarkdale Slag Pile utilizing the
precious metals circuit that is currently operating at the
Clarkdale Slag Project in north-central Arizona.
The estimated six week verification project will be conducted
under the direction of a Registered Professional Engineer in
accordance with chain-of-custody standards. The engineer will
inspect the pilot production facility site and infrastructure unit
operations; identify sites for the collection of bulk samples and
monitor the collection of such samples from the slag pile; monitor
the entire production sequence; collect samples of leach reagents
and Ion Exchange ("I-X") resins; and have samples of "pregnant"
leach solutions and loaded resins analyzed by independent
laboratories. The purpose of this process is to have MSRDI
independently validate that gold and silver can be recovered from
the slag utilizing production-scale equipment and to evaluate the
precious metals recovery process being used at the Clarkdale Slag
Project.
"We selected MSRDI as the independent consultant to conduct this
project because of its recognized global expertise in the provision
of analytical, metallurgical and environmental services, and
because it is familiar with the Clarkdale Slag Project," stated Ian
McNeil, Chief Executive Officer of Searchlight Minerals Corp. "This
independent evaluation process is intended to evaluate the levels
of gold extraction that we have achieved internally from our
precious metals processing circuit."
The Company also announced that it has commenced operating the
Electrowinning ("EW") extraction units that are an integral part of
the copper circuit at the Clarkdale Slag Project.
"We have continued to leach and optimize the precious metals
circuit during the past several weeks and are internally generating
consistent levels of extractable gold and silver on a repetitive
basis," continued McNeil. "I am also very pleased to report the
commissioning of the EW extraction units, and we expect to harvest
our first copper metal in plated form within the next ten days.
This will be followed by the commissioning of our zinc extraction
units and the subsequent operation of our initial production module
on a continuous basis."
About Searchlight Minerals Corp.
Searchlight Minerals Corp. is a minerals exploration company
focused on the acquisition and development of projects in the
southwestern United States. The Company is currently involved in
two projects: (1) the Clarkdale Slag Project, located in Clarkdale,
Arizona, is a reclamation project to recover precious and base
metals from the reprocessing of slag produced from the smelting of
copper ores mined at the United Verde Copper Mine in Jerome,
Arizona; and (2) the Searchlight Gold Project, which involves
exploration for precious metals on mining claims near Searchlight,
Nevada. The Clarkdale Project is the more advanced of two ongoing
projects that the Company is pursuing. The Searchlight Gold Project
is an early-stage gold exploration endeavor on 3,200 acres located
approximately 50 miles south of Las Vegas, Nevada.
Searchlight Minerals Corp. is headquartered in Henderson,
Nevada, and its common stock is listed on the OTC Bulletin Board
under the symbol "SRCH." Additional information is available on the
Company's website at www.searchlightminerals.com and in the
Company's filings with the U.S. Securities and Exchange
Commission.
Forward-Looking Statements
This Press Release may contain, in addition to historical
information, forward-looking statements. Statements in this news
release that are forward-looking statements are subject to various
risks and uncertainties concerning the specific factors disclosed
under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with the U.S. Securities and Exchange Commission.
When used in this news release, the words such as "could," "plan,"
"estimate," "expect," "intend," "may," "potential," "should," and
similar expressions, are forward-looking statements. The risk
factors that could cause actual results to differ from these
forward-looking statements include, but are not restricted to the
Company's limited operating history, uncertainties about the
availability of additional financing, geological or mechanical
difficulties affecting the Company's planned geological or other
work programs, uncertainty of estimates of mineralized material,
operational risk, environmental risk, financial risk, currency risk
and other statements that are not historical facts as disclosed
under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with securities regulators in the United States.
Consequently, risk factors including, but not limited to the
aforementioned, may result in significant delays to the projected
or anticipated production target dates.
Contact Information: Carl Ager Vice President (702) 939-5247
Email Contact or RJ Falkner & Company, Inc. Investor Relations
Counsel (800) 377-9893 Email Contact
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