TSX Venture Exchange
Shares Outstanding: 92,956,427
TORONTO, Feb. 26 /CNW/ - Columbia Metals Corp. Ltd. (TSX-V: COL) is
pleased to report on progress at the Lluvia-Jojoba gold and copper mine
"We are now ready to begin commissioning the gold recovery circuit at the
Lluvia-Jojoba gold and copper mine project," said Chris Berlet, President and
CEO of Columbia Metals.
"Material from the company's Sierra Pinta project will be blended with
some 35,000 tonnes of ore from the Lluvia pit and a batch leach test will be
conducted. At this time we are operating a single 8 hour crushing shift during
daylight hours. We expect to be able to complete the batch leach operation by
mid May, and will then proceed to crush and re-leach the existing Lluvia pad
material over a period estimated to be between 10 - 14 months. During this
time uncrushed pad material will be processed through the site's new crushing
system and re-leached. Concurrently Columbia's technology partner,
BioteQ Environmental Technologies Inc. (TSX: BQE), will complete commissioning
of the SART copper recovery plant," said Mr. Berlet.
"The addition of the SART circuit will materially affect project
economics. The recovery of copper in the SART process will increase gross
metal value revenue from the Lluvia-Jojoba mine project by 5-15% at current
metal prices, while reducing the gold production cost by lowering reagent
costs, providing for better management of reagents and by improving the
efficiency of gold recoveries in the activated carbon adsorption process. The
SART circuit provides for a copper revenue opportunity which was not available
to prior operators of this mine," continued Mr. Berlet. "We have been crushing
existing leach pad material since early December of last year, and anticipate
sending activated carbon offsite in order to receive first gold payment by the
middle of May," said Mr. Berlet.
"We are excited about the prospect of re-starting production at the
Lluvia-Jojoba mine project and beginning to generate positive cash-flow in an
environment of robust gold and copper prices," said Mr. Berlet.
SART Plant construction
Columbia Metals Corp Ltd. (TSX-V: COL) is a near term gold and copper
producer with its principal production project, the Lluvia-Jojoba gold and
copper mine project, located in the State of Sonora, Northern Mexico.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
This Press Release contains certain forward-looking statements relating,
but not limited to, the Company operations, anticipated financial performance,
business prospects and strategies. Forward-looking information typically
contains statements with words such as "anticipate", "believe", "plan" or
similar words suggesting future outcomes.
The results or events predicted in these statements may differ materially
from actual results or events. By its nature, the Company's forward-looking
information involves numerous assumptions, inherent risks and uncertainties,
including but not limited to the following factors: changes in business
strategies; general global economic and business conditions; the effects of
competition and pricing pressures; shifts in market demand; changes in laws
and regulation; uncertainties of litigation; labour disputes; timing of
completion of capital or maintenance projects, currency and interest rate
fluctuations; various event which disrupt operations; and technological
The Company undertakes no obligation to update publicly or otherwise
revise forward-looking information, whether as a result of new information,
further events or otherwise.
/NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
the CNW Photo Network and archived at http://photos.newswire.ca.
Additional archived images are also available on the CNW Photo Archive
website at http://photos.newswire.ca. Images are free to accredited
members of the media/
For further information:
For further information: Columbia Metals Corporation Limited, (416)