PERTH, Western Australia, Nov. 30 /CNW/ - Mantra Resources Limited ('Mantra' or 'Company') (ASX: MRU, TSX: MRL) is pleased to announce positive results from the recently completed Resin-in-Pulp ('RIP') metallurgical testwork. The Australian Nuclear Science and Technology Organisation ('ANSTO') completed the testwork using over one tonne of mineralised material from the Nyota Prospect ('Nyota' or 'Prospect'), part of the Company's wholly owned Mkuju River Project ('MRP' or 'Project') in southern Tanzania.
Mantra completed a Scoping Study on the Nyota Prospect in June 2009 utilising a counter current decantation ('CCD') process route. The Scoping Study revealed that the process route could be further enhanced by the use of RIP. ANSTO completed batch and pilot scale testwork and the results were used in an engineering and metallurgical trade off study between RIP and CCD. The testwork and trade off study has clearly demonstrated that the RIP process is the preferred process route for the MRP. The advantages of this process route are summarised as follows:
- Simplification of operation with the removal of the CCD circuit;
- A significant reduction in size or elimination of the solvent
extraction ('SX') plant with the potential to go to direct
- Reduction in overall reagent use;
- Smaller plant footprint; and
- Greater flexibility in the processing of mineralisation in varying
host rock types.
The RIP process is currently being used by Paladin Energy Limited at their Kayelekera Project in Malawi and has been used in uranium recovery in the United States and former Soviet Union for many years.
The Company is well advanced in its Pre Feasibility Study ('PFS') on Nyota and will be utilising the RIP flowsheet in the capital and operating cost estimates for the Project.
A full report complete with details of this recently completed testwork, including supporting graphics and a conceptual process flow sheet, is available on the Company's website (www.mantraresources.com.au), ASX (www.asx.com.au), and SEDAR (www.sedar.com).
For further information regarding the Mkuju River Project, including a description of Mantra's quality assurance program, quality control measures, the geology, samples collected and testing procedures in respect of the Mkuju River Project please refer to the technical report prepared in accordance with NI 43-101 entitled "Technical Report on the Mkuju River Project located in Tanzania, Africa" dated 18 September 2009, which is available under the Company's profile at www.sedar.com.
Competent Person / Qualified Person Statements
The information in this release that relates to Resin-In-Pulp metallurgical testwork results is based on information compiled by Mr Dave Dodd, who is a Chemical Engineer and a Fellow of the South African Institute of Mining and Metallurgy. Mr Dodd is a Technical Consultant of MDM Engineering Ltd, a consultant of Mantra Resources Limited. Mr Dodd has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) and is a "Qualified Person" under National Instrument 43-101 - 'Standards of Disclosure for Mineral Projects'. The Qualified Person has verified the data disclosed in this release, was satisfied with the verification process and consents to the disclosure in this release.
Mr Dodd consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
The information in this report that relates to in-situ Mineral Resources is based on information compiled by Mr Malcolm Titley of CSA Global Pty. Ltd. He is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) and is a "Qualified Person" under National Instrument 43-101 - 'Standards of Disclosure for Mineral Projects'.
Mr Titley consents to the inclusion of such information in this release in the form and context in which it appears.
Forward Looking Statements
This report contains 'forward-looking information' that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, objectives, performance, outlook, growth, cash flow, earnings per share and shareholder value, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses, property acquisitions, mine development, mine operations, drilling activity, sampling and other data, grade and recovery levels, future production, capital costs, expenditures for environmental matters, life of mine, completion dates, uranium prices, demand for uranium, and currency exchange rates. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast' and similar expressions. Persons reading this report are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company's Annual Information Form.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to update or revise any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.
SOURCE MANTRA RESOURCES LIMITED
For further information: For further information: Enquiries: Robert Behets, Joint Managing Director, Phone: +61 8 9322 6322; Matthew Yates, Joint Managing Director, Phone: +61 9322 6322