VANCOUVER, July 17 /CNW/ - Bear Creek Mining Corporation (TSX Venture:
BCM) ("Bear Creek" or the "Company") is pleased to announce that, further to
its news release dated June 11, 2008, the Company has completed its purchase
of Rio Tinto's remaining 30% interest in the Corani silver and base-metals
deposit and formalized the completion of its acquisition of Rio Tinto's 70%
interest in Corani, resulting in Bear Creek owning a consolidated 100%
interest in the Corani property.
The Company is also very pleased to report that the pre-feasibility study
is on track and the pace has recently accelerated with the completion of
Vector Engineering and Samuel Engineering's initial site visits. In addition,
the next series of lock-cycle metallurgical test work is being completed at
the SGS Vancouver Metallurgy testing laboratories. To date, lock-cycle
flotation tests have been completed on six mixed sulfide (Ore Types I and II)
composites representing approximately 70% of the mineralization in the
resource model (see news release on Metallurgical Mapping dated May 5, 2008).
The results of this latest testwork show average silver recovery into the
separate lead and zinc concentrates of 80.6%, lead recovery into the lead
concentrate of 75.3% and zinc recovery of 68.4% into separate marketable
high-value, silver-lead and zinc concentrates. The results vary somewhat from
the recovery guidance given previously, namely increased lead and decreased
zinc recoveries. This variation is normal as testing continues to be optimized
and the final overall recoveries as indicated by the test work and
Metallurgical Mapping is expected to remain at 80% silver, 60% lead, and 75%
zinc. Importantly, the test work also indicates that the production of
lower-value bulk lead-zinc concentrate from these ore types will not be
required. Three additional mixed sulfide composites are scheduled for
locked-cycle tests. The metallurgical test work is on target for completion
of the pre-feasibility study expected in January 2009. Periodic updates on all
aspects of the Prefeasibility Study progress will be provided.
According to Andrew Swarthout President and CEO, "We are very pleased
that test results continue to support, or exceed, our recovery assumptions as
the metallurgical testing represents the main component to be completed for
pre-feasibility. Work will continue to focus on optimizing recovery even
further as we focus on continuing to enhance the economics at Corani."
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
All of Bear Creek's exploration programs and pertinent disclosure of a
technical or scientific nature are prepared by or prepared under the direct
supervision of David Volkert, P.Geo., Bear Creek's Vice President of
Exploration and/or Marc Leduc, P. Eng., Senior Vice President of Engineering
and Development and the President and CEO, Andrew Swarthout, P.Geo., who serve
as the Qualified Persons under the definitions of NI 43-101.
Certain disclosure in this release, including management's assessment of
Bear Creek's plans and projects, constitutes forward-looking statements that
are subject to numerous risks, uncertainties and other factors relating to
Bear Creek's operation as a mineral exploration company that may cause future
results to differ materially from those expressed or implied in such
forward-looking statements. These risks, uncertainties and other factors are
disclosed in Bear Creek's continuous disclosure filings with Canadian
securities regulators including its most recent annual information form,
available on www.sedar.com. Bear Creek expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise.
For further information:
For further information: Andrew Swarthout - President and CEO, or
Patrick De Witt - Investor Relations, Phone: (604) 685-6269, Direct: (604)
628-1111, E-mail: email@example.com; For further information, please
visit the Company's website (www.bearcreekmining.com)