VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 27, 2014) - Global Minerals Ltd. (TSX VENTURE:CTG)(GMLFF) is pleased to provide an update of recent activities at its 100-percent owned Strieborná silver/copper/antimony deposit in eastern Slovakia. Underground development is progressing to open up areas of the mineralization for further metallurgical testing and to support process design and maintenance of the current infrastructure and water treatment system. Results from this work will be incorporated into a Preliminary Economic Assessment (PEA).
Level 6 Development to intersect the vein
In early March the Company began drifting towards the vein on Level 6. The Company expects to intersect the vein within 75 to 100 meters and, depending on the width and tenor of the vein, collect a bulk sample for further metallurgical tests. This access will also provide an opportunity to test mining methods once the appropriate permits are received. The resulting data will be used for the PEA to refine the resource estimation and mine design.
Process Flow Sheet Studies Advances
The Company continues to bench test concentrated vein material to determine a process design that yields clean silver/copper concentrates for custom smelting and antimony metal for direct sale. The current flow sheet assumes a bulk concentrate with all three metals will be produced. Antimony can then be leached and recovered as a byproduct in metal form. The remaining silver/copper concentrate would be shipped for custom smelter treatment. Similar leaching processes for the recovery of antimony have been used at various locations, particularly the Sunshine Mine in the USA, since the 1960's. The level of mercury in the Strieborná bulk concentrate is sufficient that if they can be removed or reduced, by leaching or low-temperature retorting, the result would be a significantly higher project revenue stream. The results of the ongoing test work to separate the mercury will define the best process flow sheet and design parameters for the PEA. Results from the Company's earlier metallurgical investigations can be found in the 43-101 report (Nov 1, 2013) on the Company's website or Sedar.
Health and Safety
Global maintains the surface and underground facilities in safe working order and in compliance with all local regulations. The mine is accessible to Level 6 (~200 meters below surface) where current development programs are underway. The water level is maintained below Level 8 (250 meters below surface) with all mine water pumped through the Company's water treatment facility.
About Strieborná
Strieborná is a high-grade silver-copper-antimony vein deposit in an historic mining district near the town of Roznava in eastern Slovakia. It has excellent expansion potential over and above the already well-defined resource. Significant infrastructure at site includes a working shaft and hoisting system, extensive underground access through a series of drifts, crosscuts and tunnels and associated surface support facilities.
QUALIFIED PERSONS: William Pincus., M.Sc., CPG and Chief Executive Officer for Global Minerals Ltd. is the Qualified Person (QP) under NI 43-101 responsible for this press release. He has verified the data in this news.
FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.
FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
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