Electra Mining Retains Behre Dolbear to Complete Feasibility Study During First Quarter of 1997.VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 27, 1997-- NEWFOUNDLAND PROJECT REPORT: Electra Mining Consolidated Ltd. (VSE See DOS/VSE. VSE - Virtual Storage Extended :ELC ELC Early Learning Centre (UK) ELC Environmental Law Centre (Canada) ELC Environmental Learning Center (Vero Beach, FL) ELC Education Law Center ELC Early Learning Coalition ) announces that it is making significant progress toward building a substantial mining operation in the Baie Verte Baie Verte may refer to:
RAMBLER ram·bler n. 1. One that rambles: tourists and Sunday ramblers on the village streets; a conversational rambler. 2. A type of climbing rose having numerous red, pink, or white flowers. TAILINGS Tailings (also known as tailings pile, tails, leach residue, or slickens[1]) are the materials left over[2] after the process of separating the valuable fraction from the worthless fraction of an ore. PROJECT Leaching of Rambler tailings was suspended in October for the winter season. Gold recovery for 1996 was substantially below expectations owing to the extended cycle time required to achieve recovery of gold in excess of 80 percent. Initial tests to evaluate up-grading the tailings deposit by gravity concentration have produced encouraging results. Currently, a representative sample is being collected to confirm initial results and to provide data for design of flow sheet modifications for incorporation in the recovery plant and resumption of operations during the 1997 operating season. It is expected that by increasing the feed grade gold will be recovered at a greater rate and at substantially lower cost. Although the first year of operation has not been economical, the ultimate outcome is expected to be in line with initial projections. PINE COVE MINE Good progress is being made on the Pine Cove Mine where Electra is earning a 35 percent interest. A comprehensive new Joint Venture Agreement is being completed with its partners, NovaGold Resources Inc. (35 percent) and New Island Minerals Ltd. (30 percent). Raymo Processing Ltd., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Electra will be the Operator. During October and November, approximately 6,000 tonnes of oxidized oxidized having been modified by the process of oxidation. oxidized cellulose see absorbable cellulose. near surface ore was processed through the Rambler Tailings vat leach facility. Gold recoveries and the economics which were established by processing this bulk sample were very encouraging. Results of extensive metallurgical testing of representative samples of the Pine Cove ore indicate that good recovery of gold from flotation concentrates can be achieved at favorable operating and capital costs. It is expected that the metallurgical flow sheet, based upon current metallurgical test results, mill design, construction, capital, and operating cost schedules and the completion of a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. , can be achieved by the end of the first quarter of 1997. Behre Dolbear & Company Ltd. has been retained by Electra to complete an independent due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. investigation, primarily for our bank. A production decision is expected shortly after the completion of this study. Behre Dolbear is currently on site and they have begun their due diligence investigation. Based upon the completion of the feasibility study and continuing metallurgical tests on both the Pine Cove Mine and the Rambler Tailings operation, a new plan of operation will be in hand in the second quarter of 1997. -0- Note to Editors: Information contained herein has neither been approved nor disapproved by regulatory authorities. CONTACT: Electra Mining Consolidated Ltd. Douglas B. Stelling, 604/685-4747 |
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