HALIFAX, Oct. 23, 2014 /CNW/ - Stockport Exploration is nearing completion of Phase 2 of the company's program to move to a small-scale processing operation on its SPL 214 concession. The company has finalized a letter of intent for contract mining services with Akili Mineral Services of Nairobi, Kenya. Akili will be responsible for the procurement and installation of a leach circuit and will manage day-to-day recovery operations on the concession. It is the intention of the company to build a plant to process artisanal tailings and surface quartz rubble at the SPL 214 target to fund ongoing exploration expenditures, with operations expected to begin by early 2015.
The company believes the program will be advantageous in terms of revenue generated through recovery. With equal significance, it is the intention of the company to use the surface recovery exploration data results as a tool for local geologists working at SPL 214. Jim Megann, Stockport Exploration CEO, commented, "We anticipate the recovery from the tailings and quartz rubble will demonstrate the long-term opportunity for this concession."
Procurement and commission of the recovery operation will begin immediately.
About Stockport Exploration Inc.:
Stockport is focused on the exploration of a district-scale land package along a prolific gold-hosting greenstone belt in southwest Kenya. The 2,020 km2 property package has potential to host various mineral deposit types, the most prominent being those of Lode-Gold and Copper-Zinc-Gold-Silver massive sulphide association. Stockport also holds the La Morena Copper-Silver property in Coahuila, Mexico, the Seymour Lake Tantalum-Lithium-Beryllium property near Armstrong, Ontario, and the KM61 property, which hosts a National Instrument 43-101 compliant Molybdenum-Copper-Silver resource, also near Armstrong, Ontario.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com.
SOURCE: Stockport Exploration Inc.
For further information: STOCKPORT EXPLORATION?, Jim Megann?, President and CEO, (902) 482-1240, [email protected], www.stockportexploration.com