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TORONTO, ONTARIO--(Marketwire - May
20, 2009) - MetalCORP Limited ("MetalCORP" or the
"Company") (TSX VENTURE:MTC) announces that its Dorset Gold
Property located near Wawa, Ontario is being advanced by its joint
venture partner, Trelawney Mining and Exploration Inc. ("Trelawney").
Trelawney recently announced (see Trelawney news release dated May 15,
2009) that it is moving ahead with preparations to extract a bulk
sample. Its plans include additional metallurgical testing, obtaining
the necessary permitting and securing a contractor for road
construction and the mining of the bulk sample.
Trelawney reported that it completed standard preliminary laboratory
bottle roll cyanidation, flotation and an acid base accounting
("ABA") test on one small sample (approx. seven kilograms)
collected from surface mineralization from one of the zones, the Dorset
"B" zone. The test indicated the sample is non-acid
generating but it is refractory to cyanidation with approximately 20%
gold recovery. Bottle roll leach and "ABA" testing was
completed by Process Research Associates, Richmond, B.C. and flotation
testing was conducted by metallurgical consultant, Mr. Gary Hawthorn,
of Westcoast Mineral Testing Inc., Vancouver. Due to the small sample
size and with only one sample analyzed, Trelawney reported that the
gold recovery may not be representative of the entire Dorset
"B" zone; accordingly, Trelawney expects that additional
testing will be completed on the "B" zone in June.
Additionally, since no metallurgical testing has been completed on the
Dorset "Main" zone, Trelawney expects to complete
metallurgical testing samples from this area in June prior to
finalizing plans to extract the bulk sample.
The Dorset Property consists of 2,480 acres (992 hectares) and hosts
several gold occurrences. It is located adjacent to Wesdome's producing
Eagle River gold mine. In 2008, MetalCORP formed a joint venture on the
Dorset Property with Trelawney. Currently, Trelawney owns 53% and
manages the joint venture. MetalCORP owns the remaining 47%. Trelawney
commissioned a NI 43-101 compliant resource estimate on the Dorset
Property which provided an initial estimate (using a 0.50 grams of gold
per tonne cut-off) consisting of an Indicated Resource of 780,000
tonnes grading 1.42 grams/tonne gold containing 40,000 ounces of gold
and an Inferred Resource of 4.76 million tonnes grading 1.19
grams/tonne gold containing 180,000 ounces of gold. Pursuant to the
terms of the Joint Venture Agreement, Trelawney as operator has the
right to present exploration, development and mining programs to the
joint venture parties from time to time and each party has the right to
elect whether or not to participate; if a party elects not to
participate to its full percentage interest, its interest in the Joint
Venture may be diluted. MetalCORP anticipates that Trelawney will
present such programs to MetalCORP from time to time for participation
decisions as further testing, permitting and bulk sampling plans are
developed and results are obtained.
Robert Duess, P.Geo., is a Qualified Person as defined in National
Instrument 43-101 and is responsible for the technical information
presented in this news release.
This press release contains forward-looking statements within the
meaning of applicable Canadian and U.S. securities regulation,
including statements regarding the future activities of the Company.
Forward-looking statements reflect the current beliefs and expectations
of management and are identified by the use of words including
"will", "anticipates", "expected to",
"plans", "planned" and other similar words. Actual
results may differ significantly. The achievement of the results
expressed in forward-looking statements is subject to a number of
risks, including those described in the Company's management discussion
and analysis as filed with the Canadian securities regulatory
authorities which are available at www.sedar.com. Investors are cautioned not to
place undue reliance upon forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
the term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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