VANCOUVER, BRITISH COLUMBIA, December 03, 2014 – West Kirkland Mining Inc. (WKM:TSXV) today announces that a bulk run-of-mine column test of 12 tons of mineralized material from the Three Hills deposit achieved 81.1% gold recovery after 133 days of leach and rinse; 75% of the gold was recovered after 100 days of leach.
The column tests were performed by Kappes Cassiday & Associates, Reno, to determine the gold recovered from run-of-mine material. Run-of-mine refers to ore sized as it would be after drilling and blasting without further crushing. Previous test work indicated similar recoveries but had been performed on 1-1/2 inch crushed material. A 20 ton sample was collected from three surface cuts at Three Hills, 12 tons of which was used in the four-foot diameter by 24-foot high test column. Bottle roll tests on the bulk sample were compared to bottle roll tests on a core sample at six different elevations throughout the deposit. The results indicated a similar metallurgical response.
“The potential removal of crushing costs at Three Hills is significant as it can reduce capital and operating costs in the critical early years of the project,” says Sandy McVey, West Kirkland’s Chief Operating Officer.
West Kirkland purchased both the Three Hills and Hasbrouck deposits using a base case assumption of USD$1,000 gold, with crushing assumed at both deposits. “Given the 81% run-of-mine recovery results, as well as the current volatile gold and commodity market, our conservative initial assumptions have proven prudent,” says McVey. The results of the test will be incorporated into the ongoing Three Hills and Hasbrouck prefeasibility study.
Images of the bulk sample test work can be viewed on the Company website at www.wkmining.com or from the following link: http://wkmining.com/projects/gallery1/ .
In contrast to Three Hills, test work at the Hasbrouck deposit indicates that the more the rock is crushed the greater the gold recovery. West Kirkland is currently testing the use of high pressure grinding rolls (HPGR) technology at Hasbrouck as a way to increase gold and silver recovery from the heap leach. West Kirkland expects HPGR test results in the coming weeks.
Previous metallurgical studies indicating 60% gold recovery at a 3/8 inch crush were used in the internal base case modelling at Hasbrouck. The potential financial savings from run-of-mine leaching at Three Hills may be directed towards the increased capital cost involved in increasing the recovery at the larger Hasbrouck deposit. Increased gold recovery from the test work will be compared in a trade-off study against increased capital for the HPGR crushing.
Three Hills is the smaller of the two deposits making up the Hasbrouck Project and will be the first brought into production. West Kirkland recently started the formal permitting process by submitting a Plan of Operations for Three Hills to the Bureau of Land Management, just seven months after acquisition (see news release dated November 25, 2014).
West Kirkland’s independent consultants, Mine Development Associates, are completing a prefeasibility study which will incorporate the recent metallurgical studies. Prefeasibility results are expected in the first quarter of 2015.
About the WKM Hasbrouck Project
Located near Tonopah, Nevada, the Hasbrouck Project consists of two oxidized gold-silver deposits eight kilometers from each other, Three Hills and Hasbrouck. West Kirkland has a 75% controlling interest in the project; 25% held by Allied Nevada. West Kirkland has the option of acquiring the remaining 25% interest held by Allied Nevada Gold Corp.
Qualified Persons
Herb Osborne of H.C. Osborne and Associates is the Company’s independent metallurgical consultant and has reviewed the information contained in this news release and verified the data.
Sandy McVey, Chief Operating Officer for West Kirkland, and a non-independent Qualified Person as defined by NI 43-101, has reviewed the information contained in this news release and has verified the data.
About West Kirkland Mining Inc.
West Kirkland was formed in 2010 to focus on gold exploration along major geological trends in North America. The Company has consolidated significant mineral rights positions within the known gold trends of Nevada and Utah, including the recently acquired Hasbrouck and Three Hills properties in southwestern Nevada. The founders and Board members of West Kirkland have successful and extensive experience in gold discovery, mine development, and mine operations in Nevada and other gold producing jurisdictions in North America.
For more information, contact:
Knox Henderson, VP Investor Relations, at (604) 685-8311
Disclaimer for Forward-Looking Information
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking information in this news release includes, without limitation, the completion of the Prefeasibility Study, the project approach of the Prefeasibility Study and exploration and all information under the heading “Prefeasibility Study Detail”, including the Prefeasibility Study budget. Although West Kirkland believes that such timing and expenses as set out in this press release are reasonable, it can give no assurance that such expectations and estimates will prove to be correct. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for gold or other minerals that may be produced generally, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.
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West Vault Mining Inc.
Suite 838 – 1100 Melville Street
Vancouver, BC
Canada V6E 4A6
[email protected]
Qualifying Statements
For readers to fully understand the information in this independent media, they should read the 2023 Pre-feasibility Study, which has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) (available on www.sedar.com), in its entirety, including all qualifications, assumptions, limitations and exclusions that relate to the information set out in this independent media. The 2023 Pre-feasibility Study is intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in this independent media is derived from, and subject to the assumptions and qualifications contained in, the 2023 Pre-feasibility Study.
Qualified Person for This Independent Media
Sandy McVey P.Eng., Chief Executive Officer and Chief Operating Officer for West Vault Mining, as a non-independent Qualified Person as defined in NI 43-101, has reviewed and approved the technical information disclosed in this independent media.
Disclaimer for Forward-Looking Information
This independent media may contain forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this email include, without limitation, statements regarding the potential economic performance of the Project based on the 2023 Pre-feasibility Study, the Company’s ability to obtain any additional permits required to commence and complete construction and perform operations, the Company’s ability to obtain funding on reasonable terms, and the potential identification, execution, and realization of accretive opportunities. Although West Vault Mining believes that such information as set out in this independent media is reasonable, it can give no assurance that such expectations and estimates will prove correct. West Vault Mining cautions investors that any forward-looking information provided by West Vault Mining is not a guarantee of future results or performance, and that actual results may differ materially from forward-looking information as a result of various factors. The reader is referred to West Vault Mining’s public filings for a more complete discussion of such risk factors and their potential effects; these may be accessed through the Company's profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Note to US Investors
This independent media has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. The terms “Mineral Resource”, “Indicated Mineral Resource” and “Inferred Mineral Resource” are defined in and required to be disclosed by NI 43-101. However, these terms are not defined terms under SEC S-K 1300 and are normally not permitted to be used in reports and registration statements filed with the SEC. In addition, the terms “Mineral Reserve”, “Probable Mineral Reserve” and “Proven Mineral Reserve” are also defined in NI43-101 and not S-K 1300. Investors are cautioned not to assume that all or any part of an “Indicated Mineral Resource” or “Inferred Mineral Resource” will ever be upgraded to a higher category or converted into Mineral Reserves in accordance with S-K 1300. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of Feasibility or Pre-feasibility Studies, except in rare cases. Investors are cautioned not to assume that all or any part of an Inferred Mineral Resource exists or is economically or legally mineable. Disclosure of “contained ounces” in a Mineral Resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “Reserves” by SEC S-K 1300 standards as in-place tonnage and grade without reference to unit measures. Accordingly, information contained in this independent media contains descriptions of West Vault Mining’s mineral deposits that may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.
