TSX Venture Exchange
Shares Outstanding: 94,970,527
TORONTO, July 31 /CNW/ - NWM Mining Corporation (the "Company")
(TSX-V: COL) is pleased to announce that the ongoing commissioning and ADR
plant tune-up initiatives at the Lluvia-Jojoba project in Sonora State,
Mexico, has resulted in the pouring of its first gold doré button.
The Lluvia-Jojoba project is located near Santa Ana in Sonora State, just
south of the US border with Mexico. Mineral Resources for the project are
defined by a series of gold grade vs. tonnage tables for a variety of cut-off
grades as presented in the Company's previously filed 43-101 Technical Report.
Property wide 43-101 compliant gold resources at the 0.30 g/t Au cut-off
consist of 150,526 oz. Au in the measured category, 164,686 oz. Au in the
indicated category (for a total of 315,212 oz. Au) and a further 262,195 oz.
Au in the inferred category. The Company's ground package includes 14 mineral
claims, four of which are held under an option agreement with the final option
payment due prior to yearend. The 14 claims cover 5,074 hectares of
prospective ground between and around two known gold and copper ore bodies and
an operational gold recovery plant. Following production start-up, the Company
is planning further exploration work on its consolidated district level ground
A SART (Sulphidation Acidification Recycling Thickening) circuit has also
been added to the Carbon in Column gold recovery circuit at the Lluvia-Jojoba
project. Copper sulphide recovered in the SART plant will be sold by BioteQ,
the Company's technology partner, and free cyanide will be recycled to the
leach circuit. It is anticipated that the addition of the SART process will
benefit project economics materially by both establishing a new revenue stream
from recovered copper and by recovering cyanide for further use in the leach
circuit. Commissioning of the SART plant is underway, with full operations
anticipated for early in the fourth quarter.
BioteQ Environmental Technologies Inc. ("BioteQ") (TSX: BQE) is the
Company's technology partner and operator of both the gold and copper recovery
plants at the Lluvia-Jojoba project. BioteQ has proprietary technology that
uses sulphide to remove dissolved metals from effluents, and is applying this
expertise at the SART plant. BioteQ has provided the capital for the SART
plant, in exchange for a share of the metals recovered and a cyanide
Rodney A. Blakestad, B.Sc., J.D., C.P.G., a Qualified Person as defined
by National Instrument 43-101, has reviewed and approved the contents of this
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release may contain forward-looking statements.
Forward-looking statements are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate" and other
similar words, or statements that certain events or conditions "might" or
"will" occur. Forward-looking statements are based on current expectations
that involve a number of risks and uncertainties which could cause actual
events or results to differ materially from those reflected herein.
Forward-looking statements are based on the estimates and opinions of
management of the Company at the time the statements were made. These factors
include the inherent risks involved in the development, construction and
operation of mining and gold recovery projects, fluctuations in commodity and
equity markets, the possibility of project cost overruns or unanticipated
costs and expenses, uncertainties relating to the availability and costs of
financing needed in the future and other factors. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as
of the date the statements were made.
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For further information:
For further information: please contact NWM Mining at (416) 364-6799