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Radcliff Metallurgical Study Results / 15,000,000 Unit Private Placement @ $0.05 per Unit
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Metallurg, Inc.
Published : September 05th, 2013
Radcliff Metallurgical Study Results / 15,000,000 Unit Private Placement @ $0.05 per Unit
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Keywords :
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Re:
News Releases - Thursday, September 05, 2013
Title:
Radcliff Metallurgical Study Results / 15,000,000 Unit Private Placement @ $0.05 per Unit
Vancouver, B.C.:
CMC Metals Ltd. (the "Company") is pleased to announce the Metallurgical test results performed by Kappes, Cassiday and Associates in Reno, Nevada on the representative sample of the Radcliff mineralized rock. The test results are a bench scale test of the flotation response that we could expect at the Bishop Mill facilities, processing the material from the Radcliff/ Worldbeater property. The following are the test results:
Product
Sample No.
Weight %
Au opt
Ag opt
Au Recovery %
Ag Recovery %
Concentrate
68772A
3.3
9.0521
0.616
90
78
Tailings
68772B
96.7
0.0346
0.006
10
22
Head
100.0
0.3339
0.026
100
100
All Head and flotation product assays were determined by Fire Assay (30 grams) for Au, and wet analysis in duplicate for Ag.
The results determined were comparable to past historical results conducted by past owners of the property. Based on the results the Company is very pleased with response to flotation concentration method and is structuring the commissioning of the Bishop Mill facilities to meet or exceed the bench scale results.
In addition, the Company wishes to announce that it has agreed to issue up to 15,000,000 Units at $0.05 per unit, each unit consisting of one common share and one transferable share purchase warrant, of which 3,000,000 Units are flow-through. One warrant will be exercisable for one additional common share at $0.05 per share during year one, and $0.10 per share during year two. The warrants attached to the flow-through Units are non-flow-through on exercise. The majority of the proceeds derived from the total 15,000,000 Unit placement will be used to start up operations of the Company's Bishop Mill property in California, and further development of its Canadian properties, as well as general working capital. A finder's fee by way of cash may be payable in relation to this private placement. This transaction is subject to TSX Venture Exchange approval.
In compliance with NI 43-101, Don Wedman, P.Eng., President and Chief Executive Officer of the Company, is the Qualified Person who prepared or supervised the preparation of the technical information presented in this news release.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
"Donald W. Wedman"
Donald W. Wedman, P.Eng.
CMC METALS LTD.
For further information on the Company, please contact Mr. Gord Zelko, VP Business Relations at Lakeshore Communications. Telephone: 250-495-7123, or Email:
gz@mineralstocks.com
.
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.
Copyright � 2013 CMC METALS LTD. (CMB) All rights reserved. For more information visit our website at
http://www.cmcmetals.ca/
or send email to
info@lakeshoreinvestor.com
..
Message sent on Thu Sep 5, 2013 at 9:33:22 AM Pacific Time
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