Global Advances Development at Strieborna
March 27 2014 - 7:00AM
Marketwired
Global Advances Development at Strieborna
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 27, 2014) -
Global Minerals Ltd. (TSX-VENTURE:CTG)(OTCBB:GMLFF) is pleased to
provide an update of recent activities at its 100-percent owned
Strieborná silver/copper/antimony deposit in eastern Slovakia.
Underground development is progressing to open up areas of the
mineralization for further metallurgical testing and to support
process design and maintenance of the current infrastructure and
water treatment system. Results from this work will be incorporated
into a Preliminary Economic Assessment (PEA).
Level 6 Development to intersect the vein
In early March the Company began drifting towards the vein on
Level 6. The Company expects to intersect the vein within 75 to 100
meters and, depending on the width and tenor of the vein, collect a
bulk sample for further metallurgical tests. This access will also
provide an opportunity to test mining methods once the appropriate
permits are received. The resulting data will be used for the PEA
to refine the resource estimation and mine design.
Process Flow Sheet Studies Advances
The Company continues to bench test concentrated vein material
to determine a process design that yields clean silver/copper
concentrates for custom smelting and antimony metal for direct
sale. The current flow sheet assumes a bulk concentrate with all
three metals will be produced. Antimony can then be leached and
recovered as a byproduct in metal form. The remaining silver/copper
concentrate would be shipped for custom smelter treatment. Similar
leaching processes for the recovery of antimony have been used at
various locations, particularly the Sunshine Mine in the USA, since
the 1960's. The level of mercury in the Strieborná bulk concentrate
is sufficient that if they can be removed or reduced, by leaching
or low-temperature retorting, the result would be a significantly
higher project revenue stream. The results of the ongoing test work
to separate the mercury will define the best process flow sheet and
design parameters for the PEA. Results from the Company's earlier
metallurgical investigations can be found in the 43-101 report (Nov
1, 2013) on the Company's website or Sedar.
Health and Safety
Global maintains the surface and underground facilities in safe
working order and in compliance with all local regulations. The
mine is accessible to Level 6 (~200 meters below surface) where
current development programs are underway. The water level is
maintained below Level 8 (250 meters below surface) with all mine
water pumped through the Company's water treatment facility.
About Strieborná
Strieborná is a high-grade silver-copper-antimony vein deposit
in an historic mining district near the town of Roznava in eastern
Slovakia. It has excellent expansion potential over and above the
already well-defined resource. Significant infrastructure at site
includes a working shaft and hoisting system, extensive underground
access through a series of drifts, crosscuts and tunnels and
associated surface support facilities.
QUALIFIED PERSONS: William Pincus., M.Sc., CPG and
Chief Executive Officer for Global Minerals Ltd. is the Qualified
Person (QP) under NI 43-101 responsible for this press release. He
has verified the data in this news.
FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING
INFORMATION: This news release contains certain
"forward-looking statements" within the meaning of applicable
Canadian securities laws. Forward-looking statements and
forward-looking information are frequently characterized by words
such as "plan," "expect," "project," "intend," "believe,"
"anticipate", "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur.
FORWARD-LOOKING STATEMENTS are based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
These factors include the inherent risks involved in the
exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices, 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. The Company undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking
statements.
Neither the
TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
Global Minerals Ltd.William PincusPresident and
CEO877.356.0674info@globalminerals.comwww.globalminerals.com
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