FOR IMMEDIATE RELEASE
MOLYCOR RECEIVES PROPOSAL FOR
MAGNESIUM METALLURGY (tami-mOSI)
July 23,
2009 - Vancouver, British
Columbia
Molycor Gold Corp. (TSX.V-MOR; Frankfurt-M1V; Pink
Sheets-MLYFF) (�Molycor�
or the �Company�) is pleased to report the company is receiving proposals for metallurgical studies on the 100%
owned Tami Mosi magnesium property in Nevada.
The Company has received a proposal for dolomite
beneficiation from Process Research Associates of Richmond, British Columbia, a
division of Inspectorate America Corporation.
The proposal will evaluate the suitability of
Tami-Mosi dolomite resource for upgrading by a brine or seawater process.
Separation of Mg and Ca will require a
hydrometallurgical process which leads to the high-end target products:
ceramics and metal production. Several processes rely on heating calcined
dolomite with softened seawater to precipitate magnesium hydroxide which is
thickened repulped
and filtered and dried by solar evaporation. This product can be calcined to
high grade magnesia (Mg0) which is the feed for production of refractories
or metal.
This is the first stage to the known conventional Pidgeon
or Magnetherm
processes and will provide indications for ways which may lead to savings in
energy for the overall process.
The Company has requested other proposals and will
proceed with the metallurgical testing upon receipt of suitable financing.
Tami-Mosi Magnesium Resource
The resource contains an inferred 236,183,772 tonnes
of virtually pure dolomite containing more than 51 billion lbs Mg grading 10
percent magnesium as reported in a NI 43-101 resources study written by N.
Tribe & Associates of Kelowna,
B.C. (Tami-Mosi Property Evaluation Report dated May 1, 2009).
About Magnesium
Magnesium
is a widely used industrial metal categorized by its light weight. The metal is
produced in 2 ways: 1) electrolysing the brine in salt water; 2) smelting high
grade ore. The supply of magnesium has undergone dramatic change. The
production of the metal from source has almost ceased in Canada
and the United States, only
one company in Utah
remains. The Chinese now produce 7/8 of the world�s primary supply. The total
world production is estimated at approximately 800,000 metric tonnes (2008
USGS). This distortion of the market has led to dumping charges and the
incidence of an import duty in the United
States; this dependence on virtually only one
foreign source presents opportunity. The price of magnesium is currently
US$2,800 a metric tonne or US$1.20 lb (minor metals). The metal has enjoyed a
favourable price for decades and has reached $6,000/tonne in times of demand.
About Molycor Gold Corp.
Molycor is a diversified precious and base metal
exploration and development company focusing on magnesium, molybdenum and gold
exploration in North America.
This news release was reviewed by John W. Fisher,
P.Eng, a
qualified person under NI 43-101.
On
Behalf of Management
Edward Lee
President
For all
Molycor Gold Corp. investor relations needs, investors are asked to visit the
Molycor Gold Corp. website at www.molycor.com.
Information Contact
Edward Lee
President
Head Office: 2A 15782
Marine Drive, White Rock, B.C. V4B 1E6
Telephone: 604-531-9639 Facsimile:
604-531-9634
Email: info@molycor.com
www.molycor.com