Zaruma Resources: Positive Metallurgical Test Results from Alcaravan Gold Deposit, El Foco Project, Venezuela
TORONTO, April 23 /CNW/ - Zaruma Resources Inc. (TSX-ZMR) is pleased to report positive results of metallurgical testing on samples from the Company's Alcaravan gold deposit in Venezuela (El Foco Project). Gold recoveries of more than 90% were obtained in column leach tests from saprolite and laterite bulk samples. Reasonable cyanide and cement consumption, as well as the clean, non- reactive nature of the material tested, supports the viability of recovering gold by agglomerated heap leaching.
The agglomeration and column leach tests conducted by Kappes, Cassiday & Associates, Reno, USA, ("KCA") on one laterite and two saprolite bulk samples provided by qualified geologist Dr. Alfredo Bernasconi, showed excellent gold recoveries: (i) 98% in the case of a light coloured saprolite sample with a head grade of 3.43 g/mt, (ii) 96% in the case of a dark coloured saprolite sample with a head grade of 4.65 g/mt, and (iii) 90% in the case of a laterite-type sample with a head grade of 2.67 g/mt. Dark and light coloured saprolite form the bulk of the oxidized cap of the deposit. According to KCA, gold recoveries from production heaps should be around 92%, based upon the conditions maintained in the test program.
The Alcaravan deposit is shaping up as an excellent model deposit. A Measured Mineral Resource of 1 million tonnes of oxide ore at 2.0 g/mt within an Indicated Mineral Resource of 3.7 million tonnes at 1.4 g/mt is estimated to contain 160,000 ounces of gold, according to independent mining consultant D. Limpitlaw Consulting - Bastillion Ltd., South Africa. An ongoing pit optimization study indicates a potential 0.58 million tonnes of ore to be mined at an average grade of 2.94 g/mt, with an average ore to waste stripping ratio of 1:1.16. If material outside the Measured Mineral Resource, currently classified as part of the Indicated Mineral Resource, is included in the preliminary mine plan, then 1 million tonnes of ore with a mined grade of 2.9 g/mt will yield an estimated 90,000 ounces of gold.
In addition to Alcaravan, there is an excellent resource potential for further saprolitic gold deposits in the 1.8 to +2.5 g/mt grade range in the El Foco concession. Good correlation between soil geochemical gold anomalies, radiometrics, geophysics, structural geology and previous auger and diamond drilling has defined at least 8 more mineralized targets. The Company is currently conducting auger and subsequent infill drilling at key targets to add to the measured oxide resources prior to initiating a feasibility study for the start-up of open pit mining and heap leach operations at the Alcaravan deposit.
At El Foco, Zaruma is concentrating on the evaluation and development of saprolitic oxide gold resources formed on top of primary, mainly shear-zone hosted local gold mineralization. This focus on the top 60 meters of weathered rock, in contrast to the deep drilling approach by previous operators in the region, is confirming a development concept of low cost, open pit mining from a number of nearby satellite pits, feeding oxide ore to a centralized heap leach facility.
Zaruma Resources Inc. is a mineral exploration company listed on The Toronto Stock Exchange and on the Frankfurt and Berlin Stock Exchanges (symbol: ZMR). In addition to El Foco, the Company owns the San Antonio Project in Mexico, where metallurgical tests on oxide and sulphide gold resources are currently being carried out.
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For further information: please contact: Zaruma Resources Inc., 20 Toronto Street (12th Floor), Toronto ON, M5C 2B8, Canada Tel.: (416) 777-1781, Fax: (416) 367-3638, info@zaruma.com, www.zaruma.com; Dr. Thomas Utter, President and CEO, Tel.: (416) 777-1781, thomas.utter@zaruma.com; Frank van de Water, CFO and Secretary, Tel.: (416) 869-0772, Frank.vandewater@zaruma.com
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