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Thursday, January 10, 2008
Wildrose Resources Announces Excellent Gold Recoveries at Spanish Mountain
Wildrose Resources Ltd. ("Wildrose") (TSX-V: WRS) and Skygold Ventures Ltd. ("Skygold") (TSX-V: SKV) have provided metallurgical test results from the continuing exploration and development program at the Spanish Mountain project in central British Columbia. The results indicate gold recoveries in the range of 88 to 90 per cent.
Scott Weekes, vice-president of exploration at Skygold, stated: "The metallurgical testing has returned very high gold recoveries from a very simple circuit and is a big step forward in the development of the Spanish Mountain project. Three drills are planned to start up in mid-January to continue to expand the Main zone mineralization as well as to continue to test targets away from the Main zone. A 43-101-compliant resource estimate for the Main zone is still on track to be completed in the first quarter of 2008 and along with the metallurgical results will form the basis of initial economic studies."
G&T Metallurgical Services of Kamloops, B.C., and Westcoast Mineral Testing of North Vancouver have completed a program of bench scale testing on four composites from the Spanish Mountain Joint Venture.
The results from the testing are very encouraging, having determined the following:
- After grinding to somewhat coarser than 50 per cent passing 74 microns, 95 per cent of the gold can be recovered into rougher concentrate from feed grading 1.2 to 1.5 grams per tonne (g/t) Au.
- The rougher concentrate after cleaning and regrinding, to finer than 80 per cent passing 30 microns, responds well to carbon-in-leach (CIL) cyanidation to recover essentially 95 per cent of the gold in that product.
- The combined circuit gold recovery is expected to be in the range of 88 to 90 per cent.
As the project advances to the feasibility stage, additional bench-scale testing will be required to investigate any variability in process requirements, but at this stage, the major processing parameters are well understood.
The technical content of this release has been prepared by mineral processing engineer, Gary Hawthorn, PEng, an independent qualified person as defined by NI 43-101.
About The Spanish Mountain Joint Venture
Skygold obtained and exercised an option from Wildrose to earn a 70% interest in the Spanish Mountain Joint Venture and became operator of the venture. Wildrose retained a 30% interest in the Spanish Mountain Joint Venture. Each party is responsible for all expenses and liabilities of the mining operations in proportion to their respective interests.
About Wildrose Resources:
Wildrose is a Vancouver-based resource company with a 30% participating interest in the Spanish Mountain Joint Venture. Its common shares trade on the TSX Venture Exchange under the symbol WRS.
J.W.Morton
J.W. Morton, President
Wildrose Resources Ltd.
FOR FURTHER INFORMATION REGARDING WILDROSE PLEASE CONTACT:
J. W. Morton - President, or
Glen Garratt, VP, or
Paul Way
Wildrose Resources Ltd.
604-681-7913
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Skygold Ventures Ltd. and/or Wildrose Resources Ltd. (the "Companies") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. In this news release, predictions about the Plan of Arrangement being approved and finalized are forward-looking statements. Although the Companies believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the conditions of the letter agreement not being satisfied. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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