Underground drifting intersects 6.1 m wide vein for bulk sampling
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/15/14 --
Global Minerals Ltd.(TSX VENTURE:CTG)(OTCBB:GMLFF) is pleased to announce that it has received the initial operating permit for mining, milling and concentrate production at its 100%-owned Strieborná high-grade silver/copper/antimony project in Slovakia. The permits have been granted after approval of an Environmental Impact Assessment and Plan of Operations reviewed by the appropriate local authorities and made available for public comment.
Bill Pincus, Global's CEO, said, "Since pumping out and refurbishing the mine, this is our most critical achievement to date. The permits will allow us to complete test mine studies for a full feasibility study and can eventually be amended to allow the start-up of operations once the company has received a tailings disposal permit."
Initial Permits Issued
Under the terms of the operating permit the Company may mine and concentrate up to 85,000 tonnes of ore per year from underground operations. The permit currently restricts mining to approximately 20m below the rehabilitated Level 6. The Company has already applied for an amendment to allow mining to 10m above Level 6. Global anticipates approval of the amendment by this summer at which point it is likely to run a small test mine. This will allow for better evaluation of mining conditions and to satisfy certain requirements of our mining license.
The current permit does not provide for tailings disposal. The Company has identified two alternative tailings management plans: a surface tailings facility or the use of the tails as cemented backfill in the mining process. The Company will apply for a tailings permit once the management plan is finalized.
Exploration Drifting Intersects 6.1-Meter Vein on Level 6
The Company is also pleased to report that the underground drifting (mining) on Level 6 has recently intercepted a 6.1 m intersection of the Strieborná vein that exhibits abundant tetrahedrite, the sulphide mineralization that contains most of the silver, copper and antimony (see photos, http://globalminerals.com/gallery/may-2014/). The objective is to investigate and collect a 500 tonne bulk sample of the vein on this upper level that had never been previously explored underground. The bulk sample results including assays and metallurgy will be used for the technical studies and the future mine plans.
Metallurgical Test Work Advances
The Company is also pleased to report that recent bench-scale leach tests to evaluate the production of byproduct antimony from the Strieborná vein concentrate indicate that antimony extractions of up to 99%, and mercury extractions of up to 98% can be achieved through leaching. The process also indicates that virtually all of the silver and copper remained in the residual high grade concentrate for smelting. The mercury, dissolved into solution can be effectively precipitated for safe disposal. The studies will continue in order to define and cost-out the most efficient and economic process using these techniques.
Strieborná is a high-grade silver/copper/antimony vein deposit in an historic mining district near the town of Roznava in eastern Slovakia. It has excellent expansion potential over and above the already well-defined resource. Significant infrastructure at site includes a working shaft and hoisting system, extensive underground access through a series of drifts, crosscuts and tunnels and associated surface facilities.
For further information about Global, visit www.globalminerals.com.
William Pincus., M.Sc., CPG
and Chief Executive Officer for Global Minerals Ltd. is the Qualified Person (QP) under NI 43-101 responsible for this press release. He has verified the data in this news.
FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION
: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.
FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Readers are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Readers should refer to the continuous disclosure documents filed by Global and available at www.sedar.com, for detailed information, which is subject to the qualifications and notes set forth therein.
The mineral resources are reported in accordance with Canadian Securities Administrators' National Instrument 43-101 and have been estimated in conformity with generally accepted CIM Estimation of Mineral Resource and Mineral Reserves Best Practices Guidelines. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserve.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
To view the photo associated with this press release, please visit the following link: http://media3.marketwire.com/docs/946116_image.pdf.
Global Minerals Ltd.
President and CEO
Source: Global Minerals Ltd.