International Enexco Announces Positive Metallurgical Results from Contact Copper Project, Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/18/12 -- International Enexco Ltd. (TSX VENTURE: IEC)(OTCQX: IEXCF)(FRANKFURT: IE6) (the "Company" or "Enexco") is pleased to announce positive metallurgical test results on its 100%-owned Contact Copper Project, located in northeast Nevada. Copper extractions ranged from 68 to 79%. The samples are weathered and unweathered oxide material, with results that are typical of the extractions in copper oxide leaching operations.
"The results are very encouraging and provide us with critical information for moving ahead with a feasibility study," commented Arnold Armstrong, President & CEO of Enexco.
Composite samples grading from 0.15 to 0.54% copper (Cu) were obtained from whole HQ drill core and crushed to 100%-minus one inch. Column test work was conducted by Metcon Research of Tucson, Arizona.
The three composites consist of: GA, weathered material from 0 to 30 m depth; GB, weathered material from 30 to 50 m depth; and MID, unweathered material from 60 to 130 m depth.
Table 1. Summary of Leach Test Results
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Calculated
Head Assay Extraction Gangue Sulfuric Acid
Acid Grades (%) (%) Consumption
Cure Leach-----------------------------------------------
Test No. Sample (kg/t) Days Cu Fe Cu Fe (kg/tonne) (kg/kg Cu)
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CL-10 GA 16.3 88 0.54 1.87 73.05 16.29 20.54 5.16
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CL-11 GB 6.3 88 0.15 1.70 68.06 3.31 11.52 11.51
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CL-12 MID 6.3 88 0.27 1.82 79.18 7.41 11.88 5.64
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The composites were from holes EN-72, EN-82 and EN-84 located in the approximate center of the deposit, and consist of potassically-altered granodiorite containing copper oxides. Since 2010 when a pre-feasibility study was completed, it was realized surface weathering is a prominent feature and extends to depths of greater than 70 meters (230 feet) across the deposit. This weathered zone consists of friable decomposed granite, or 'grus'. Samples from the weathered zone show a low work index for crushing.
With grades from 0.15 to 0.54% Cu, copper extractions were from 68 to 79% and gangue acid consumptions were 5.16 to 11.51 kg/kg of copper extracted. The results are typical for copper oxide leaching and indicate no significant differences between the weathered and unweathered samples. Subsequent testing indicated no geotechnical problems in permeability and compaction with the weathered or unweathered samples.
The results from the metallurgical tests demonstrate the leachability of key material types. Further metallurgical testing is in progress to optimize leach parameters and develop data from composite samples representing production periods. In addition, all assay results have been received from the 2011-2012 drill program will now be incorporated into an updated mineral resource estimate that is expected this fall.
About the Contact Copper Project
The Contact Copper Project is a copper oxide project located in Elko County, Nevada, that is planned to use low cost SX-EW recovery to produce copper cathode on site. Additional information is available on Enexco's website at http://www.enexco.ca/s/contact_copper.asp and in the October, 2010 NI 43-101 Technical Report Pre-feasibility Study Update for the Contact Copper Project, Elko County, Nevada as posted on Sedar.
Qualified Person
William Willoughby, Ph.D., P.E. is the Company's Qualified Person for the purposes of NI 43-101 and approved this news release. Eugenio Iasillo, P.E., Principal of Process Engineering, LLC, is a Qualified Person for the purposes of NI 43-101, and supervised and reviewed the information contained in this news release.
About International Enexco Ltd.
International Enexco Ltd. is a North American exploration and development company focused on the feasibility stage Contact Copper Project in northern Nevada. The Company also pursues gold and silver exploration in Idaho and Nevada, and is advancing the Mann Lake Uranium Project located in Saskatchewan's prolific Athabasca basin. This project is a joint venture with Cameco as operator and Areva-two of the world's largest uranium companies.
On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.
G. Arnold Armstrong, President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable.
The TSX Venture Exchange or its Regulation Services Provider have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. We seek safe harbour.
Contacts:
International Enexco Limited
Spiros Cacos
+1 604 669 8368
+1 604 642-3691 (FAX)
info@enexco.ca
www.enexco.ca