RESULTS SHOW DIRECT PROCESSING FEED INCREASING UP TO 270 PERCENT
Noelle Laury | 208.602.3423 | firstname.lastname@example.org
Trevor Burns | 416.452.0758 | email@example.com
BOISE, Idaho—January 25, 2017: American CuMo Mining Corporation (CuMoCo) (MLYCF), and its wholly owned subsidiary, Idaho CuMo Mining Corporation (ICMC) announces excellent results when utilizing Ore-Sorting technology on samples from the CuMo Project located in Boise County. Results reported by Sacre-Davey Engineering on 400 representative samples confirm that mineralization at CuMo is amenable to significant upgrading and potential increase of up to 270 percent in value through Ore-Sorting technology.
“We know the demand is greatly increasing for molybdenum worldwide. The Ore-Sorting optimization and others that we are considering will improve the feasibility and increase the profitability of the CuMo Project,” said Shaun Dykes, President and CEO of CuMoCo. “With President Trump’s plans for extensive infrastructure projects, current molybdenum supplies will not be adequate and the CuMo Project will become critical to meeting US supply needs.”
The samples for the Ore-Sorting study were deliberately selected to match the grade and volume distribution of the various metals zones within the CuMo deposit as defined in the November 2015 43-101 resource calculation. The CuMo deposit has long been recognized as a stockwork vein deposit, consisting of narrow veins containing molybdenum and/or copper mineralization, surrounded by discard/waste material. With this vein mineralization structure, Ore-Sorting technology has provided excellent metallurgical recoveries even at lower-grade levels. This technology uses sophisticated X-ray technology (XRF) to identify rocks that contain processing grade minerals and separates them from those that do not.
CuMoCo intends to leverage these new results to produce an updated preliminary economic assessment, adding the substantial benefits of Ore-Sorting to the already robust economics of the deposit. The final stage will be to create a series of large bulk (five ton) samples for testing that will also be used in feasibility-level metallurgical testing. The combined results of Ore-Sorting and metallurgical test work will then be used in a feasibility-level economic study.
“As we progress the Project through these important studies, we remain focused on sustainable management and development of the world’s largest molybdenum deposit,” said Dykes. “The CuMo Project is projected to create thousands of long lasting jobs and hundreds of millions of dollars in tax revenue. Both are key factors in supercharging Idaho’s economy.”
Dykes shared that the ICMC management team is preparing for 2017 CuMo Project work program consisting of drilling, engineering, environmental baseline studies and completing the permitting process. Additionally, they will analyze other optimizations designed to lower operating and capital cost estimates for the Project with the goal of completing a pre-feasibility or an initial feasibility level economic study as soon as possible. The target for these optimizations is to confirm potential cash operating cost reductions per pound molybdenum to under one dollar per pound.