Magellan Confirms Metallurgical Results as Part of Feasibility Study at the Coringa Project, Brazil
Published : June 27, 2013
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Keywords :   Brazil | Gold | Market | Recovery | Report | Water |

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 27, 2013) - Magellan Minerals Ltd. (News - Market indicators)(OTCQX:MAGNF) ("Magellan") is pleased to report that metallurgical results from the first phase of testing for the Feasibility Study on the Coringa Project have been received. 

Highlights include:-

  • 96.7% - 99.0% overall gold recoveries from samples ground to a P80 of 75 microns using a combination of initial gravity separation followed by carbon-in-leach cyanidation for 48 hours
  • 92.3% - 96.7% gold recoveries from sulphide samples at the relatively coarse grind of P80 of 150 microns, after cyanidation for 48 hours
  • Recoveries of 51.1% to 65.2% via gravity methods at a grind a P80 of 150 microns. Previously reported recoveries via gravity testwork indicated recoveries in the range of 40-50% at P80 of 150 microns

Whole ore carbon in leach gold recoveries of greater than 95% after 24 hours of leaching were achieved from two composite samples; the first sample representing 243.64kg of sulphide ore from the Galena, Mae de Leite and Serra zones, and the second representing 280.74kg of sulphide ore from the Meio and Come Quieto zones. These results are as good or better than the previous results obtained after 48 hours of leaching. In addition, gold recovery by gravity concentration resulted in recoveries greater than 50%. Additional testing is on-going now to optimize the flowsheet. The test results are an important step in advancing the design of the processing plant.

  Grind size (P80 microns)
  150 106 75
Gravity recovery (7L/m fluidization)      
  Composite 1 65.2% 63.6% 62.6%
  Composite 2 51.1% 47.5% 47.4%
Leach recovery
(after 48 hours with activated carbon)
     
  Composite 1 96.7% 98.0% 99.0%
  Composite 2 92.3% 94.8% 96.7%

Note: These recoveries do not include additional losses incurred during elution and electrowinning

For the gravity test work, a total of 4kg of each sample were milled for three different grind sizes (P80 = 150,106 and 75 microns) and passed through a Knelson lab concentrator MD-3 using three different fluidization water flow rates (3,0 - 5,0 - 7,0 L/m). At each fluidization water flow rate, one concentrate was taken from each sample. Each concentrate was then dried, weighed and leached using cyanide concentrations of 20.000 mg/L (rolling bottle).

For the whole ore leach tests with activated carbon, a 3kg sample from each composite was taken and sub-divided into six sub-samples of 500g. Each sub-sample was then placed in a bottle under the following conditions; activated carbon, 18 g of carbon/l, pH adjusted to 10-11 (with hydrated lime), 40% solids, sampling (Au, CNFREE, pH) at 2, 6, 8, 12, 24, 48 hour intervals, and an initial cyanide concentration of 1000 g/t.

The test work was carried out by Testwork Desenvolvimento de Processo Ltda in Nova Lima, Brazil from March to June of 2013. Although preliminary, the results are as good or better than previous test results reported in the December 2012 Preliminary Economic Assessment Technical Report. 

Commenting on the results, Alan Carter, President & CEO stated "these new metallurgical test results on larger samples of ore have been conducted as part of the feasibility study at Coringa, and confirm our earlier work which indicates gold recoveries in excess of 95% from a combination of gravity separation and leaching. The metallurgical work is an important step forward in advancing the Coringa feasibility study."

This press release was reviewed by John Kiernan, P.Eng., Magellan's VP Project Development and a qualified person in compliance with National Instrument 43-101.

Magellan Minerals (News - Market indicators)(OTCQX:MAGNF) is a TSX Venture Exchange listed exploration and development company with two advanced gold properties in the Tapajos Province of northern Brazil. The Coringa project is currently the subject of a Feasibility Study and contains Measured and Indicated resources of 561,000oz of gold (3.2Mt @ 5.5g/t gold) and Inferred resources of 534,000oz of gold (5.5Mt @ 3.0g/t gold). The Cuiu Cuiu project contains 100,000oz of gold in the Indicated category (3.4Mt @ 1.0g/t gold) and 1,200,000oz of gold in the Inferred category (31Mt @ 1.2g/t gold).

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.

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with achieving production on the project within the parameters identified in the economic assessment, the ability of the project to generate significant cash flow to the company and earnings to the shareholders of the company. These statements are subject to risks due to regulatory, technical, economic and other factors. In addition there is no guarantee that additional exploration work will result in significant increases to resource estimates. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through SEDAR at http://www.sedar.com

News release #2013-7



Alan Carter, President and CEO
604.676.5663
info@magellanminerals.com
Data and Statistics for these countries : Brazil | All
Gold and Silver Prices for these countries : Brazil | All

Magellan Minerals Ltd

EXPLORATION STAGE
CODE : MNM.V
ISIN : CA55908M1086
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Magellan is a gold exploration company based in Canada.

Its main exploration properties are PORQUINHO, CORINGA, MARANHENSE, MATO VELHO, JERIMUM BAIXO, UNIÃO, NHAMUNDÁ and CUIU CUIU in Brazil.

Magellan is listed in Canada. Its market capitalisation is CA$ 15.4 millions as of today (US$ 12.0 millions, € 10.5 millions).

Its stock quote reached its highest recent level on December 17, 2010 at CA$ 1.94, and its lowest recent point on January 22, 2016 at CA$ 0.03.

Magellan has 205 850 000 shares outstanding.

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Financings of Magellan Minerals Ltd
12/24/2009Completes $21 Million Brokered Private Placement
6/3/2010Completes $7.5 Million Brokered Private Placement
12/11/2009Announces $20 Million Brokered Private Placement
Nominations of Magellan Minerals Ltd
7/5/2011Gord Allen Joins Magellan as Head of Regional Exploration
Project news of Magellan Minerals Ltd
4/8/2015(Coringa).: Feasibility Study Resource Estimate at Coringa Returns In...
8/29/2013(Coringa)Reports Results from Infill Drilling at the Coringa Project,...
6/27/2013(Coringa)Confirms Metallurgical Results as Part of Feasibility Study ...
4/17/2013(Coringa)Provides Update on Feasibility Study at the Coringa Project,...
3/12/2013(Coringa)Commences Drilling at Coringa as Part of Feasibility Study
2/5/2013(Cuiu Cuiu)Reports Results from Exploration Drilling at Cuiu Cuiu Proje...
1/15/2013(Coringa)Announces the Initiation of a Feasibility Study for the Cori...
10/11/2012(Cuiu Cuiu).: Channel Sample Results From Ivo Zone at Cuiu Cuiu Return ...
6/28/2011(Coringa)Adds Third Drill Rig at Coringa Project and Identifies New M...
4/12/2011(Coringa)Surface sampling at Coringa project extends main structure 3...
4/8/2011(Coringa)Trench Results from the New Valdette Zone at Coringa, Brazil...
4/8/2011(Coringa)Trench results from the new Valdette zone at Coringa, Brazil...
3/8/2011(Cuiu Cuiu)Announces Initial Resource Estimate at Cuiu Cuiu Project, Br...
6/8/2010(Cuiu Cuiu)Drills 136.2m at 0.91g/t Gold and Extends Central Zone by 23...
5/27/2010(Coringa)Extends Meio Zone at Coringa Project and Expands Drill Progr...
5/18/2010(Coringa)Options an Additional 1,917 Hectares East of Coringa Gold Pr...
4/7/2010(Coringa)Provides Update on Coringa Project
9/28/2009(Cuiu Cuiu)Commences Drilling at Cuiu Cuiu
9/14/2009(Cuiu Cuiu)Provides Exploration Update on Cuiu Cuiu and Coringa Project...
Corporate news of Magellan Minerals Ltd
1/19/2016Magellan Makes US$500,000 Troy Payment
12/18/2015Magellan Extends Troy Agreement; Ken Nilsson Joins Magellan ...
11/3/2015Magellan Expands Non-Brokered Private Placement to $1,100,00...
9/24/2015Magellan Pays Troy Deposit Regarding Andorinhas Processing P...
9/23/2015Magellan Appoints Zengliang Li to Board of Directors
8/26/2015Magellan Agrees to Acquire Andorinhas Processing Plant, Asso...
8/4/2015Magellan Announces $500,000 Non-Brokered Private Placement
4/8/2015Feasibility Study Resource Estimate at Coringa Returns Incre...
4/8/2015Magellan Minerals Ltd.: Feasibility Study Resource Estimate ...
12/2/2014Magellan Completes Third and Final Tranche of $3,000,000 Pri...
10/17/2014Magellan Completes Second Tranche of $3,000,000 Private Plac...
9/23/2014Magellan Completes First Tranche of $3,000,000 Private Place...
9/4/2014Magellan Announces $3,000,000 Private Placement
8/11/2014Magellan Completes Shares for Debt Settlement
7/31/2014Magellan Enters Into Debt Settlement Agreement
5/6/2014Termination of Letter of Intent on Pocone Project, Brazil
9/11/2013(Coringa)Drills 3m @ 12.58 g/t Gold and Extends Three Key Zones at th...
6/12/2013(Coringa)Agrees Financial Advisory Role with Endeavour Financial for ...
12/12/2012(Coringa)Announces the Filing of a Preliminary Economic Assessment fo...
11/14/2012(Cuiu Cuiu)Commences Drilling at Ivo and Ratinho Targets, Cuiu Cuiu Pro...
11/1/2012(Coringa)Announces Positive Preliminary Economic Assessment for the C...
10/23/2012(Cuiu Cuiu)Trenching Returns 5m @ 54.8g/t Gold from the Ivo Zone at Cui...
7/12/2011(Coringa)Reports Initial Drill Results Including 36.7m @ 0.79g/t Gold...
5/31/2011Announces Voting Results of 2011 Shareholders Meeting
5/17/2011(Coringa).: Trench Results From Coringa Expand Valdette Zone and Iden...
5/12/2011(Cuiu Cuiu)Drills 24m @ 4.06 g/t Gold at Eastern Extension to Moreira G...
4/29/2011Adopts Shareholder Rights Plans and Grants Stock Options
4/8/2011is Pleased to Announce that National Bank and Mackie Researc...
8/18/2010Drills 84m @ 1.24 gold and extends mineralized zone by 600m ...
7/22/2010Drills 112m of 1.70g/t Gold at Moreira Gomes
7/8/2010Drills 53.6m @ 1.3g/t Gold and Continues to Expand Central Z...
6/23/2010Drills 32.1m @ 1.05g/t gold at Moreira Gomes
11/18/2009Signs Deal to Acquire Majority Interest in Creporizinho Gold...
5/14/2010Announces up to $7.5 Million Equity Financing
1/28/2010Drills 82.5m @ 1.02 g/t Gold and Extends Central Zone
1/5/2010Commences Preliminary Economic Assessment at Coringa
10/8/2009Reports Initial Resource Estimate at Coringa Project
9/1/2009Completes Plan of Arrangement with Chapleau
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