Metallurgical Test Work Yields Excellent Recoveries and Concentrate Grades at Pegmont Lead - Zinc Project
Montag, 06.03.2017 14:35 von DGAP
DGAP-News: Vendetta Mining Corp. / Key word(s): Miscellaneous Metallurgical Test Work Yields Excellent Recoveries and Concentrate Grades at Pegmont Lead - Zinc Project 06.03.2017 / 14:30 The issuer is solely responsible for the content of this announcement.
Vancouver, British Columbia--(Newsfile Corp. - March 6, 2017) - Vendetta
Mining Corp. (TSXV: VTT) (the 'Company') is pleased to announce the initial
metallurgical test work on the Pegmont Lead-Zinc project from the Burke
Hinge Zone open pit target (BHZ) and the high zinc grade Zone 5 underground
target.
Using industry standard test work the initial flotation tests produced
separate lead and zinc concentrates using bench scale batch (open cycle)
flotation. Tests were performed by ALS Metallurgy, in Burnie Tasmania,
under the supervision of Vendetta's consulting metallurgist Mr. Geoff
Richmond.
Three composites from sulphide mineralization at BHZ, and Zone 5 Lens B and
C were processed. A fourth test was performed on transition mineralization
at BHZ. In all cases, separate marketable lead and zinc concentrates were
produced.
Table 1. Composite Details, Overall Recoveries and Concentrate Grades.
Bore
Area Holes Composite
Composite Included Head Grades Lead Circuit Zinc Circuit
in (diluted)
Composite
Pb Concentrate Zn Concentrate
Pb % Zn% Recovery Pb Grade % Recovery Zn Grade %
% %
Sulphide Mineralization
PVRD023,
024, 026,
BHZ 027, 041, 5.02 3.03 91.5 70.6 61.8 50.7
042, 043,
044 & 045
PVRD013,
Zone 5, 030, 032, 5.61 4.74 88.5 68.0 75.6 50.1
Lens B 33, 34 &
37
Zone 5, PVRD030, 4.30 5.48 83.0 66.1 76.7 50.3
Lens C 033 & 037
Transition Mineralization*
BHZ PVRD023 3.19 2.90 80.6 57.0 19.3 48.9
* Transition mineralization is defined as predominately sulphide lead-zinc
mineralization in variably weathered rocks, with high iron oxide
mineralogy.
Key Points:
- BHZ and Zone 5 composites were selected such that they are
representative of the lead-zinc mineralization intersected during
Vendetta's 2016 drilling program.
- Sulphide composites were prepared using quarter core HQ. BHZ transition
sample was prepared using half core HQ.
- All sulphide composites included barren hangingwall and footwall
country rock to simulate mining dilution. The BHZ transition test did
not include dilution.
- Pre-concentration method investigated included magnetic separation and
heavy media separation. These were performed on the BHZ sulphide and
Zone 5 Lens B composites, results indicate that no meaningful advantage
can be gained from pre-concentration.
- All composites were ground to P80 passing 105 µm.
- Each composite was subject to a series of developmental batch flotation
tests, including a roughing only test and either two or three cleaning
tests with rougher concentrate regrind (P80 passing 15 to 27 µm)
- BHZ Transition test was performed on an intersection from one drill
hole only and is not considered representative. Zinc recoveries in the
zinc concentrate of the BHZ Transition were hampered by locking of
sphalerite in galena and gangue minerals, this is reflected in the
relatively high recovery of zinc (22.3%) to the lead concentrate. While
transition mineralization represents a relatively small proportion of
the mineralization at the BHZ open pit target flotation optimization
work is ongoing.
- Bond Ball Mill Work Index comminution test work, was performed on the
BHZ Sulphide and Zone 5 Lens B composites, returning16.6 kWh/t and 19.4
kWh/t respectively, placing them in the medium to medium hard range.
- There remains scope to further optimize the flotation results. It is
generally accepted that locked cycle flotation will result in higher
recoveries more comparable to commercially operated flotation plant,
compared to batch flotation.
- Further details about these tests will be made available on the
Companies web page and Corporate Presentation.
Michael Williams, Vendetta's President and CEO commented 'These initial
metallurgical results are a significant technical milestone. The results
demonstrate a classic grade recovery profile, producing marketable lead and
zinc concentrates in all cases. This allows the Company to continue
planning the 2017 resource development program with confidence as we
further de-risk the Project'.
About The Pegmont Lead Zinc Project
The Pegmont lead-zinc-silver deposit is located in North West Queensland
Mineral Province, 175 km south-east of the major mining center of Mount
Isa, 25 km west of South32's world class Cannington silver-lead-zinc
operation and 28 km north of Chinova Resources' Osborne and Kulthor
copper-gold operations. It is proximate to infrastructure including roads,
rail, and natural gas for power generation.
Pegmont is a multiple lens, stratiform Broken Hill style deposit that
outcrops with an overall shallow dip to the south east and is hosted in a
magnetite rich, banded iron formation within high metamorphic grade rocks.
The project consists of three granted mining leases and two exploration
permits that cover an area of approximately 3,468 ha.
Since the February 2014 NI 43-101 Mineral Resource Estimate on Zones 1 to 4
there has been over 13,500 m of drilling, primarily in the Zone 5
underground target and the Burke Hinge Zone open pit target. Highlights of
the Companies drill results from Burke Hinge Zone and Zone 5 are presented
in Table 2 below, the Company plans to update the resource estimate in the
near future.
Table 2. Selected Highlights of the 2014 - 2016 Burke Hinge Zone and Zone 5
Drilling^
Bore Dip / From To Interval True
Hole Azimuth (m) (m) (m) Thickness* Grade
(m)
Pb+Zn Pb Zn Ag
% % % g/t
Burke Hinge Zone - Open Pit Target
PVR018 -60/205 81.0 87.0 6.0 5.4 7.30 4.90 2.41 7.0
PVR019 -60/205 62.0 69.0 7.0 6.7 11.52 7.79 3.72 12.4
PVR021 -60/205 57.0 70.0 13.0 13.0 7.34 4.29 3.04 6.6
and 81.0 87.0 6.0 6.0 10.11 6.98 3.13 12.5
PVRD023 -60/205 40.64 46.64 6.00 6.0 9.48 6.08 3.40 17.8
PVRD026 -60/025 69.65 75.65 6.00 3.7 10.41 5.94 4.47 10.4
PVRD027 -60/205 34.16 37.16 3.00 3.0 11.48 7.55 3.93 27.9
PVRD041 -60/205 31.0 36.0 5.0 4.9 9.15 5.99 3.16 9.1
PVRD042 -60/205 42.5 46.45 4.00 3.9 16.83 12.28 4.55 19.9
Zone 5 - Underground Target
PVRD030 -68/330 290.85 299.15 8.30 7.9 10.73 5.82 4.91 6.8
and 317.25 323.00 5.75 4.8 11.01 5.85 5.16 9.0
PVRD032 -70/350 253.28 260.28 7.00 6.2 9.55 6.40 3.15 8.0
PVRD033 -70/350 276.63 281.63 5.00 4.6 9.72 5.77 3.95 8.0
PVRD037 -88/240 297.38 303.38 6.00 5.5 9.72 4.53 5.19 6.2
PMR283 -90 276.0 285.0 9.0 9.0 13.23 6.35 6.88 7.7
PVRD052A -51/138 215.63 230.40 14.77 6.8 11.91 5.46 6.45 5.56
PVRD017 -56/153 260.60 265.16 4.56 4.2 15.60 5.45 10.15 6.1
^Note: For full details about the above drill results please see the
Company's previous news releases dated the 7th September 2016, 21st
September 2016 and 30th November 2016.
About Vendetta Mining Corp.
Vendetta Mining Corp. is a Canadian junior exploration company engaged in
acquiring, exploring, and developing mineral properties with an emphasis on
lead and zinc. It is currently focused on advanced stage exploration
projects in Australia, the first of which is the recently optioned Pegmont
Lead Zinc project. Additional information on the Company can be found at
www.vendettaminingcorp.com
Qualified Person
Peter Voulgaris, MAusIMM, MAIG, a Director of Vendetta, is a
non-independent qualified person as defined by NI 43-101. Mr. Voulgaris has
reviewed the technical content of this press release, and consents to the
information provided in the form and context in which it appears.
Geoff Richmond FAusIMM, a Consulting Metallurgist to Vendetta, is a
qualified person as defined by NI 43-101. Mr Richmond has reviewed the
metallurgical technical content of this press release, and consents to the
information provided in the form and context in which it appears.
ON BEHALF OF THE BOARD OF DIRECTORS
'Michael Williams'
Michael Williams
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
Certain statements within this news release, other than statements of
historical fact relating to Vendetta Mining Corp., are to be considered
forward-looking statements with respect to the Company's intentions for its
Pegmont project in Queensland, Australia. Forward-looking statements
include statements that are predictive in nature, are reliant on future
events or conditions, or include words such as 'expects', 'anticipates',
'plans', 'believes', 'considers', 'significant', 'intends', 'targets',
'estimates', 'seeks', attempts', 'assumes', and other similar expressions.
The forward-looking statements are based on a number of assumptions which,
while considered reasonable by Vendetta Mining Corp., are, by their nature,
subject to inherent risks and uncertainties and are not guarantees of
future performance. Factors that could cause actual results to differ
materially from those in forward-looking statements include: the
interpretation of current results from the 2016 drilling program mentioned
in this news release, further results from the 2017 drilling program, the
accuracy of exploration results, the accuracy of Mineral Resource
Estimates, the anticipated results of future exploration, the forgoing
ability to finance further exploration, delays in the completion of
exploration, delays in the completion of the updated Mineral Resource
Estimate, the future prices of lead, zinc, and other metals, and general
economic, market and/or business conditions. There can be no assurances
that such statements and assumptions will prove accurate and, therefore,
readers of this news release are advised to rely on their own evaluation of
the information contained within. In addition to the assumptions herein,
these assumptions include the assumptions described in Vendetta Mining
Corp.'s Management's Discussion and Analysis for the periods ended November
30th, 2016 and 2015.
Although Vendetta Mining Corp. has attempted to identify important risks,
uncertainties and other factors that could cause actual performance,
achievements, actions, events, results or conditions to differ materially
from those expressed in or implied by the forward-looking statements, there
may be other risks, uncertainties and other factors that cause future
performance to differ from what is anticipated, estimated or intended.
Unless otherwise indicated, forward-looking statements contained herein are
as of the date hereof and Vendetta Mining Corp. does not assume any
obligation to update any forward-looking statements after the date on which
such statements were made, except as required by applicable law.
Click on, or paste the following link into your web browser, to view
the associated documents
http://www.newsfilecorp.com/release/25490
06.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de |
Language: | English |
Company: | Vendetta Mining Corp. |
Canada | |
ISIN: | CA92261V1022 |
End of News | DGAP News Service |
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550709 06.03.2017