Toronto, Ontario–(Newsfile Corp. – January 4, 2018) – Crown Mining Corporation (TSXV: CWM) (“Crown” or the “Company“) is pleased to announce test results from its initial metallurgical testing of mineralized samples from its Moonlight and Superior copper sulfide deposits located in the Light’s Creek Copper District, Plumas County, northern California.
The metallurgical test work for the Moonlight deposit resulted in a copper recovery of 88% with a concentrate grade of 32.1% copper.
The table below provides additional results of the test work that was completed on the Moonlight and Superior deposits:
Crown commissioned Dr. Corby Anderson, through Allihies Engineering Incorporated, in collaboration with Continental Metallurgical Services, to undertake an initial metallurgical evaluation of Crown’s copper (silver) deposits. The intention of the test program was to confirm effective flotation reagent conditions and demonstrate the recoveries and concentrate quality that can be achieved with the tested material.
The Allihies-Continental metallurgical report states that good recoveries and good grade concentrates are achievable with 90% of the grind passing 100 mesh with low reagent consumption. Additional testing will be required to determine optimum grind size and reagent mix. Mineralogical analysis using AMICS (Advanced Mineral Identification and Characterization System) identified chalcopyrite and bornite as the dominant copper minerals.
The report also noted the absence of iron sulfide (pyrite) in the samples as being advantageous in the flotation of the copper mineralization as well as potentially having other operational advantages. The report recommends that the next phase of testing will evaluate a regrind circuit which could enhance recoveries, particularly for the Superior deposit.
These metallurgical results will be incorporated into the Preliminary Economic Assessment on the Moonlight deposit currently being prepared by Tetra Tech, Inc of Vancouver.
Crown controls approximately 15 square miles of patented and unpatented federal mining claims in the Light’s Creek Copper District; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits — Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.
The Superior and Engels Mines operated from about 1915-1930 producing over 161 million pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits. The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960’s.
The three deposits host the following National Instrument 43-101 (“NI 43-101”) resources, calculated using ordinary kriging and a cutoff grade of 0.20% copper:
|(tons in brackets)||(%)||(pounds)|
|Moonlight (Indicated)||146 million (161mm)||.324||1.04 billion|
|Moonlight (Inferred)||88 million (88mm)||.282||496 million|
|Superior (Inferred)||54 million||.41||487 million|
|Engels — oxide (Inferred)||2.5 million||1.05||60 million|
Further details of these resources and the parameters used to calculate them can be found in the Technical Report on the Moonlight Copper Property dated April 12, 2007 and the Technical Report on the Superior Project dated November 7, 2014 filed on Sedar.com. Additional historical resource estimates are also disclosed in these reports.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crownminingcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, Crown Mining Corporation (416) 361-2827 or email [email protected].
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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company’s management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.