Normabec eager to mine tailings (April 23, 2007)

A prefeasibility study is in the works for Normabec Mining Resources (NMB-V) Real de Catorce silver property in northern San Louis Potosi State, Mexico.

Chilean underground mining contractor Constructora Gardilicic has signed a letter of intent with Normabec to prepare the study.

With positive prefeasibility results, Gardilicic will have the option to become the underground mining contractor on several resources, which are currently being evaluated.

Under the agreement, Gardilicic will receive 15% of the net earnings from the block of resources defined in the prefeasibility study.

The company says it is fast-tracking the prefeasibility process because there are oz. of silver available in leftover tailings as well a potential for open-pit mining.

There are 2 million tonnes of tailings at Real de Catorce with grades between 60 and 100 grams silver per tonne. Surface sampling for an open pit over the Veta Madre vein graded 194.5 grams silver over a strike length of 535 metres.

The propertys historical resource is 533,000 tonnes grading 275 grams silver per tonne.

Over the next three months, Normabec will complete resource estimates on the underground material left in place by previous operators, on three tailings piles and on the surface material being evaluated for open pit possibilities, metallurgy, mine and mill design.

Normabec president Robert Ayotte says the company has 50,000 metres of drilling planned over the next two years in hopes of finding what couldnt be found on surface.

The old miners went around the side of the mountain and they dug drifts to give them access to the ore and extracted what they saw, Ayotte says. Any hidden vein or blind vein that they couldnt see — its there.

In mid-May, the company will start drilling a projected 20,000 metres to be completed this year, with 85% of the drilling to be done underground

The prefeasibility study will be focused on the building a new mill. The mill thats on the property right now is about a century old.

The property straddles the north-south Sierra de Catrce mountain range. It spreads across 64 sq. km and is composed of 15 old mines.

Between 1773 and 1990, the property produced more than 230 million oz. silver, including 150,000 oz. silver mined in the first three years. Normabec officially acquired the project in June 2006, tripling it area since then.