Vancouver, British Columbia -- Odin Mining and Exploration Ltd. (TSXV: ODN) is pleased to announce that it has received positive results from the initial metallurgical testing program conducted on its 100% owned Cangrejos gold/copper project located in southern Ecuador. Test results demonstrate that the mineralized material can be processed by conventional industrial techniques.
Flotation, combined with gravity and cyanidation, can be used to recover
83% of the gold. Flotation produces a saleable copper/gold concentrate
with recovery of 83% of the copper and 69% of the gold. Cyanidation of
gravity concentrates and flotation cleaner scavenger tails recovered in
doré increases gold recovery by 14%, resulting in a total gold recovery
of 83%. Alternatively, whole-ore cyanidation can be used to process
the mineralized materials and recover 92% of the gold and 36% of the
silver in doré, but no base metals are recovered.
The test work was performed at C.H. Plenge & CIA. S.A. in Lima, Peru
and conducted on four individual composites and a Master Composite.
The four individual composites were prepared using 870 kilograms of
halved drill core collected from seven different drill holes and
represented high grade and low grade mineralized materials from the
Cangrejos deposit.
The Master Composite contained 0.13% copper, 0.8 grams/tonne gold, 0.5
grams/tonne silver and 37 ppm molybdenum. The copper/gold concentrate
produced from the Master Composite contained 83% of the copper, 69% of
the gold, 57% of the silver and 72% of the molybdenum. The concentrate
assayed 22% copper, 109 grams/tonne gold, 59 grams/tonne silver and
0.53% molybdenum. Deleterious elements identified in the concentrate are
below penalty levels, except for fluorine which may be at the penalty
level for some smelters. Molybdenum levels in the concentrate are high
enough to warrant future testing to determine if a separate molybdenum
concentrate can be produced.
Recommended future testing includes finer grinding of rougher
concentrates to increase concentrate grade, optimizing gravity
concentration to improve gold recovery, additional lock cycle flotation
tests, flotation of a separate molybdenum concentrate and
carbon-in-leach (CIL) cyanidation to improve Au recovery.
Nelson King, SME Registered Member and Metallurgical Consultant to Odin,
is a Qualified Person as defined by NI 43-101 for the Cangrejos
Project. Mr. King has assisted Odin in the development and direction of
the metallurgical testing program for the Cangrejos Project, has
visited C.H. Plenge & CIA S.A. in Lima to observe the testing
program, and has reviewed and approved the content of this press
release.
Odin Mining & Exploration Ltd
Signed: "Marshall Koval"
Marshall Koval, President & CEO
For further information contact:
Lyle Braaten, VP Legal Counsel
T: +1 604 646 1889
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
