VANCOUVER, May 28, 2013 /CNW/ - Flinders Resources Limited ("Flinders") (TSX.V - FDR) Mr. Martin McFarlane, President & CEO is pleased to provide an update on
the metallurgical test programs being conducted on graphite bearing
rock from the Woxna Graphite Mine, Sweden.
A bulk sample, together with representative core samples of graphite
mineralization from across the Woxna Kringel mineral resource were sent
to flotation specialist Aminpro Metallurgical Laboratories ("Aminpro")
in Chile. Aminpro were commissioned to complete a series of graphite
processing tests that would lead to a new process flow sheet optimising
graphite flake size, purity and recovery results.
A key goal of the test work program was to maximise the proportion of
larger flake sizes in the flotation concentrate. Using a single stage
coarser grind and rougher float has yielded an encouragingly high
proportion of large flake sizes.
The following table outlines the flake size distributions for the
current test results and historical production, and shows potential for
improved flake size distribution.
Graphite Flake Size
(% by weight)
(% by weight)
Further cleaning test work is currently underway to maximise graphite
purity while maintaining a high flake size distribution. The
metallurgical test program concludes with locked cycle tests of the
proposed new process flow sheet. This work is expected to be completed
in early June.
Golders of Sweden are nearing completion on the design of the Woxna mine
plan and will deliver their final report at the end of May.
Having previously delivered a 4 phase 20+ year mine plan, Golders have
undertaken multiple iterations to optimise the first 10 years of the
plan resulting in a better than 30% improvement of the 10 year
stripping ratio to 6:1 with 3:1 during the first 3 years.
The revised mine plan has then been subject to optimisation using the
industry recognised Whittle optimisation software. This is anticipated
to further improve ore to waste ratios by up to 15%.
Tailings and Water Management
Tailings and water management plans were presented to the regulators
earlier this year. The plans will deliver substantially improved
environmental performance at the Woxna mine. While no formal approval
is required from the regulator, feedback to date has been positive.
Preliminary Economic Assessment
Once the final results are available from the metallurgical test work,
all of the components will be available to complete a preliminary
economic assessment of resuming production at the Woxna graphite mine.
New and reused equipment will be specified for the final modified
process flow sheet. Operating and capital costs will then be calculated
as will revenue based on the metallurgical test results.
It is anticipated that the preliminary economic assessment of the Woxna
graphite project will be completed in July.
The qualified person for the Woxna project, Mr. Chris Stinton of GBM
Minerals Engineering Consultants of the United Kingdom, has reviewed
and verified the contents of this release.
On behalf of the Board
Martin McFarlane, President and CEO
Certain information set out in this news release may constitute
forward-looking statements or forward-looking information within the
meaning of applicable securities laws (collectively, "Forward-Looking
Statements"). All statements, other than statements of historical fact,
that address activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future are
Forward-Looking Statements. Forward-Looking Statements are often, but
not always, identified by the use of words such as "seek,"
"anticipate," "believe," "plan," "estimate," "expect," and "intend" and
statements that an event or result "may," "will," "can," "should,"
"could," or "might" occur or be achieved and other similar expressions.
Forward-Looking Statements are based upon the opinions and expectations
of the Company based on information currently available to the Company.
Forward-Looking Statements are subject to a number of factors, risks
and uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the Forward-Looking
Statements including, among other things, the Company has yet to
generate a profit from its activities; there can be no guarantee that
the estimates of quantities or qualities of minerals disclosed in the
Company's public record will be economically recoverable; uncertainties
relating to the availability and costs of financing needed in the
future; competition with other companies within the mining industry;
the success of the Company is largely dependent upon the performance of
its directors and officers and the Company's ability to attract and
train key personnel; changes in world metal markets and equity markets
beyond the Company's control; mineral reserves are, in the large part,
estimates and no assurance can be given that the anticipated tonnages
and grades will be achieved or that the indicated level of recovery
will be realized; production rates and capital and other costs may vary
significantly from estimates; unexpected geological conditions; delays
in obtaining or failure to obtain necessary permits and approvals from
government authorities; all phases of a mining business present
environmental and safety risks and hazards and are subject to
environmental and safety regulation, and rehabilitation and restitution
costs; the Company does not maintain insurance against environmental
risks; and management of the Company have experience in mineral
exploration but may lack all or some of the necessary technical
training and experience to successfully develop and operate a mine.
Although the Company believes that the expectations reflected in the
Forward-Looking Statements, and the assumptions on which such
Forward-Looking Statements are made, are reasonable, there can be no
assurance that such expectations will prove to be correct. Readers are
cautioned not to place undue reliance on Forward-Looking Statements, as
there can be no assurance that the plans, intentions or expectations
upon which the Forward-Looking Statements are based will occur.
Forward-Looking Statements herein are made as at the date hereof, and
unless otherwise required by law, the Company does not intend, or
assume any obligation, to update these Forward-Looking Statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS SUCH TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS
SOURCE: Flinders Resources Limited
For further information:
Jim Powell +1 647-478-5806