TORONTO, April 27 /CNW/ - COGITORE Resources Inc. (the "Company") (WOO:
TSX-V) is pleased to provide an update on the on-going feasibility study at
its Estrades project.
Genivar, the consulting engineering firm commissioned by Cogitore to
provide a feasibility study on the Estrades project, has now completed a
mining plan on the Main Zone based on the independent resources calculations
completed by Scott Wilson Roscoe Postle Associates Inc. ("Scott Wilson RPA")
in their November 2006 NI-43-101 compliant Technical Report (filed on SEDAR).
The Genivar plan considers two different mining methods and includes all the
necessary development, a detailed mining schedule, and staffing and cost
estimates. Estimates of capital costs are in progress and contacts have been
made with potential custom mills.
A review of old metallurgical reports undertaken by Genivar led the firm
to recommend detailed metallurgical laboratory testing in order to attempt to
improve on gold and silver recoveries by gravity separation. In addition,
further test work will focus on gaining more selectivity, enhancing overall
metal recoveries and producing concentrates of better quality than what was
achieved previously on plant scale in the early 90's.
A 160 kilogram metallurgical sample was obtained by re-entering three old
holes drilled through the Main Zone in the late 1980's and drilling a series
of "wedge cuts" from these holes. The metallurgical holes were selected to
achieve an average grade close to the expected head grade and to be
representative of the zinc-rich ore below the 200m level. The sample was
delivered to SGS Lakefield Research Limited on March 2, 2007 and flotation and
other tests are currently under way. While the completion of these tests will
delay the delivery of the feasibility report, Genivar believes that the
potential upside of the metallurgical testing is such that the tests should be
done as part of the feasibility study.
Cogitore's President Gerald Riverin states "metallurgical performance has
a direct impact on the net smelter return of the ore and therefore also on
cut-off grades, mining reserves, and ultimately on profitability of any mining
project." Cogitore's Board of Directors therefore approved Genivar's and
management's recommendation to carry out the metallurgical tests. As a result,
completion of the feasibility report is now expected late in the second
quarter of 2007. In addition to, and independently of the feasibility study, a
formal application for a Certificate of Authorization for the mine was filed
at the Ministère du Développement durable, de l'Environnement et des Parcs du
Québec, which is the organization responsible for authorizations and permits
to carry out projects (such as mining) that may affect the environment. The
Ministère has committed to complete its review within 75 days of submission of
the application document.
A TITAN 24 test survey was completed by Quantec Geoscience Inc. around
the Estrades deposit in January and the final report is soon expected. The
winter exploration diamond drilling program at the Estrades project is now
complete and the Company will provide an update on drilling results shortly.
After a short break for routine maintenance, the drill rig will be mobilized
to the Scott Lake project to resume drilling in early May.
Work is carried out by the personnel of Cogitore Resources Inc., under
the supervision of Gérald Riverin, PhD, P.Geo. He is a qualified person (as
defined by National Instrument 43-101) and has more than 30 years of
experience in exploration.
The Company has developed a strategic focus on base metal exploration in
prospective areas that also feature infrastructure favourable for mining
development. Accordingly, it focuses its work in the Abitibi Belt of Quebec
and Ontario, and in the Central Belt of Newfoundland. The company maintains
annual drilling contracts and is adequately funded to drill year-round.
On Behalf of the Board of Directors
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Gérald Riverin, President, Telephone: (819)