Trading Symbol: TSXV: BMC
Shares Outstanding: 150,898,545
WINDSOR, NS, May 4 /CNW/ - Buchans Minerals Corporation (TSXV: BMC) ("Buchans Minerals" or the "Company") is pleased to announce that SGS
Canada Inc. (SGS), have completed phase one of the metallurgical
flotation test program for its Lundberg project located at Buchans,
Newfoundland. The program consisted of thirty two (32) flotation
scoping tests and three (3) locked cycle flotation tests on a variety
of samples from the deposit.
Based on the SGS metallurgical test results, Wardrop Engineering, A
Tetra Tech Company (Wardrop), will use the following concentrate grades
and metal recoveries in the National Instrument 43-101 compliant
Preliminary Economic Assessment (PEA) they are currently completing on
the Lundberg project;
24.1% concentrate grade 89.3% recovery
73.9% concentrate grade 78.7% recovery
53.0% concentrate grade 66.2% recovery
Silver in Lead concentrate:
27.8% recovery at a grade of 360 g/t
Silver in Copper concentrate:
10.5% recovery at a grade of 37.8 g/t
Warren MacLeod, President and CEO of Buchans Minerals stated that "We
are very pleased with the results of the initial Lundberg test program
as they demonstrate that saleable concentrate grades are readily
obtainable at excellent recovery levels. With the completion of these
tests and the open pit mine plan we look forward to the completion of
the PEA on Lundberg in the near future."
Daniel Coley, MBA, B.Sc., P.Eng., Senior Process Engineer with Wardrop,
is a Qualified Person as defined by NI 43-101 and has reviewed and
approved the results of the metallurgical test work conducted by SGS
Canada for Buchans Minerals Corporation regarding the Lundberg deposit.
About Buchans Minerals:
Buchans Minerals is an Atlantic Canada based resource company that is
primarily focused on exploring and developing mineral properties in New
Brunswick and the historic Buchans mining camp in central Newfoundland,
Forward Looking Statements:
Certain information contained herein may constitute forward-looking
statements within the meaning of applicable securities laws.
Forward-looking statements may include estimates, plans, expectations,
opinions, forecasts, projections, guidance or other statements that are
not statements of fact. Although the Company believes the expectations
reflected in such forward-looking statements are reasonable, they can
give no assurance that such expectations will prove to have been
correct. The Company cautions that actual performance will be affected
by a number of factors, many of which are beyond their control, and
that future events and results may vary substantially from what the
Company currently foresees. The Company's forward looking statements
are expressly qualified in their entirety by this cautionary statement.
The information contained herein is stated as of the current date and
subject to change after that date and the Company does not assume the
obligation to revise or update these forward-looking statements, except
as may be required under applicable securities laws.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
SOURCE BUCHANS MINERALS CORP.
For further information:
| Buchans Minerals Corporation. |
| Warren MacLeod, President & CEO |
| Ph: (902) 472-3520 |
| Windsor, Nova Scotia |
| www.buchansminerals.com |