Sulphide samples from bacterially assisted leaching at the Ivan copper project in Chile are being sent to a laboratory for testing, Minera Rayrock (TSE) reports.
The company says acceptable recoveries are indicated from the ores using somewhat salty water. The project, which sits at an elevation of 800 metres above sea level, is in northern Chile.
“This development could lead to all cathode production (from the sulphide ore),” said Michael Seaward, executive vice-president. Seaward was addressing shareholders at the annual meeting in Toronto.
The company began its bacterially assisted leaching work at Ivan toward the end of last year.
Grades of the underground sulphide portion of the Ivan deposit average 4.61% copper but run as high as 10%, the company says. The property also has oxidized copper reserves which would be mined by an open pit method. Probable and proven reserves of sulphide material total 934,700 tonnes grading 4.61% copper. Proven and probable reserves of oxide material total 3.4 million tonnes grading 1.97% copper.
Minera has had discussions with financial institutions pertaining to funding for the project, and has talked to other companies regarding joint participation.
Elsewhere in Latin America, Minera continues to explore its other advanced-stage property, the Bellavista gold project in Costa Rica. Minera is controlled by gold producer Rayrock Yellowknife Resources (TSE), which has a 50.3% voting interest in the junior.
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