Taseko Mines -- Excellent Results Received From Prosperity Pilot Plant Program.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Nov. 17, 1997-- Robert G. Hunter, Chairman of Taseko Mines Limited (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :TKOCF) (VANCOUVER STOCK EXCHANGE Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). :TKO) is pleased to report that excellent progress is continuing to be made on feasibility and permitting programs for Taseko's 100% owned Prosperity Gold-Copper Project located near Williams Lake, British Columbia Williams Lake also known as BC's Stampede Capital is a city in British Columbia, Canada. Located in the Cariboo District, it is the largest urban centre between Kamloops and Prince George. The population is 10,744. . Pilot plant metallurgical and process programs, including bulk sample testing of the Prosperity Deposit have now been completed at Lakefield Research Limited. All pilot plant program results compare favorably with the previously announced prefeasibility metallurgical results. The program focused on confirming detailed process criteria for the final feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. , including copper and gold recovery into a copper-gold flotation concentrate, assessment of grindability characteristics and detailed concentrate and environmental analyses. Results from this 50,000 kilogram (50 tonne) test program, averaged 90% copper recovery (prefeasibility 87.3%) and 75.6% gold recovery (prefeasibility 73.2%) producing a 25% copper concentrate (prefeasibility 24%) containing 38.9 grams gold per tonne (prefeasibility 37.0 grams). These favourable pilot plant results will positively impact the bottom line of the Prosperity Gold-Copper Project's financial modelling. A detailed geological and gold-copper grade computer model of the Prosperity Deposit, based on all of Taseko's core drilling since 1991 (404,900 feet in 248 holes) is being finalized. A new mineable reserve estimate and open pit designs and production schedules based on the updated Prosperity Deposit model will be announced on completion of this massive undertaking. In addition, comprehensive and advanced environmental studies are continuing for presentation to the government Project Review Committee and to local stakeholders in anticipation of meeting the mine certification requirements of the citizens of the Cariboo-Chilcotin region and the British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography and Canada Environmental Assessment Acts. As part of this review, Taseko Mines is examining alternative open pit configurations, waste rock storage sites and 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. storage sites. Taseko has opened a Project Community Office in the City of Williams Lake Williams Lake is the name of several places: Canada
v. har·mo·nized, har·mo·niz·ing, har·mo·niz·es v.tr. 1. To bring or come into agreement or harmony. See Synonyms at agree. 2. Music To provide harmony for (a melody). federal-provincial environmental review of the Prosperity Project. The Prosperity Gold-Copper Project, not unlike other large-scale open pit metal mines in the Province of British Columbia, is being planned to utilize the productivities of scale, with attendant low unit costs to achieve high quality, long life mine production and profitability. Examples of three recently permitted open pit mines in British Columbia now on stream or coming on stream include Kemess (40,000 tonnes/day), Huckleberry huckleberry, any plant of the genus Gaylussacia, shrubs of the family Ericaceae (heath family), native to North and South America. The box huckleberry (G. brachycera) of E North America is evergreen and is often cultivated. The common huckleberry (G. (16,500 tonnes/day) and Mt.Polley (20,000 tonnes/day). The Prosperity Deposit is one of the largest untapped base and precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. resource in the world and contains in excess of 9.4 million ounces of gold and 3.5 billion pounds of copper. Established infrastructure, excellent deposit geometry, metallurgy and topography combine to make it well suited for high volume, low cost open pit mine development. Commercial production at Prosperity will result in large scale, low cost production of both gold and copper over an unusually long mine life of 21 years. ON BEHALF OF THE BOARD Robert G. Hunter Chairman The Vancouver Stock Exchange has neither approved nor disapproved the information contained in the news release. CONTACT: Taseko Mines 604/684-6365 800/667-2114 |
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