Kobex Resources Ltd.: Metallurgical Test Results Confirm Molybdenum Grade and Recovery Projections; Non Acid Generating Tailing
25 Fevereiro 2008 - 11:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: KBX) and its partner,
U.S. Energy Corp. (NASDAQ Capital Market: "USEG") are pleased to
provide the following update on the Lucky Jack Molybdenum
Project:
A preliminary laboratory metallurgical test program has been
completed at SGS-Lakefield Research on material from the Lucky Jack
deposit. The test program was conducted on historical core and
reject samples from previous drill programs conducted by Cyprus
AMAX. The program included locked cycle testing which produced
molybdenum concentrates assaying between 45 and 50% molybdenum at
86 to 90% molybdenum recovery from samples with a head grade of
0.30% molybdenum. This is in line with the historical projections
by Cyprus AMAX. The developed process eliminates the use of cyanide
which was previously proposed and simplifies the overall reagent
scheme.
The process also includes a step to remove pyrite by flotation
following molybdenum recovery. This processing addition removes the
sulphide minerals from the main tailings flow and was undertaken to
produce final tailings for surface storage having minimal
environmental impact. A tailings characterization program conducted
by Golder PasteTec is currently underway. This program includes a
study of paste backfill with the objective of maximizing the
placement of tailings underground as backfill to fill the voids
left by mining. Environmental analysis of the tailings planned for
surface storage produced by the locked cycle testing which
incorporated the pyrite flotation step has been completed by both
SGS-Lakefield Research and Golder PasteTec. In both of these
analyses the neutralization potential ratio (NPR), which is the
ratio of neutralization potential (NP) to acid generating potential
(AP) was greater than 4.5 to 1. This is a strong indication the
flotation tailings to be stored on surface will not be acid
generating. Industry accepted criteria classify a material with NPR
greater than 4 as having no potential for acid generation.
Maurice Tagami, Kobex COO stated, "We are very pleased with the
results of the metallurgical test program. The ability to produce a
high quality molybdenum concentrate with reasonable recovery at the
laboratory scale is good news for the Project. The results of the
addition of pyrite flotation as part of the process are extremely
encouraging as we are committed to being able to design a mine and
process plant which will have minimal environmental impact. A non
acid generating tailing stream for surface disposal is another step
towards our goal."
Kobex is also pleased to announce that its wholly owned
subsidiary, Kobex Colorado Corporation, compiled a safety record
for 2007 with over 36,000 hours worked with no lost time accidents.
"Our Colorado based Project operations staff and contractors are to
be commended for their exemplary safety record in our first year of
the development of the Lucky Jack Project. Human health and safety
is a top priority for our organization," Stated Leo King, President
of Kobex.
On behalf of the Board of Directors
H. Leo King, President
This news release includes certain statements that express
management's expectation or estimates of future performance and may
be deemed "forward-looking statements". These forward-looking
statements include plans, estimates, forecasts and statements as to
management's expectations regarding the Lucky Jack Project These
forward-looking statements involve assumptions, risks and
uncertainties and actual results may vary materially. For these
reasons shareholders should not place undue reliance on such
forward-looking information.
United States residents are cautioned that some of the
information that may be published by Kobex may not be consistent
with United States Securities and Exchange Commission disclosure
rules and may be materially different from what the Company is
permitted to disclose in the United States and therefore United
States residents should not rely on such information.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this News
Release.
Contacts: Kobex Resources Ltd. Leo King President and Chief
Executive Officer (604) 484-6228 Kobex Resources Ltd. Maurice
Tagami Chief Operating Officer (604) 484-6228 (604) 688-9336 (FAX)
Email: investor@kobexresources.com Website:
www.kobexresources.com
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