Confederation Receives Favorable Initial Metallurgical Testing Results from Newman Todd: Mobilizes Crew for 2013 Summer Program
(via Thenewswire.ca)
Vancouver, B.C.; July 8th,
2013; Confederation Minerals Ltd. (TSX.V:CFM, OTCQX:CNRMF ):
("Confederation" or the "Company") is pleased to announce initial metallurgical testing results
of material from the Newman-Todd project have been received.
Confederation has the option to earn a 70% interest in the Newman Todd
project, in Northwestern Ontario, from Redstar Gold Corp.
(RGC:TSX.V).
The metallurgical tests were done by SGS Labs on composite samples of
drill core selected to be representative of gold mineralization being
delineated within the structure. Tests included gravity concentration
(9 tests) followed by rougher flotation (34 tests) and cleaner
flotation (21 tests). These initial results suggest a 93% gold
recovery for head grades above 1.5 g/t Au and 85% gold recovery for
the range 1.0g/t to 1.5g/t Au.
Metallurgical results will be incorporated into the Preliminary
Economic Assessment currently underway and planned for completion by
the end of Q3 2013. The metallurgical work is being overseen for
Confederation Minerals by metallurgist Daniel Sepulveda of Moose
Mountain Technical Services.
As work on the Newman-Todd Project continues, a 3,000 metre drilling
program is expected to be underway shortly. Field crews are currently
being mobilized with drill crews expected at site within the next
week. Initial holes are targeted to follow up on higher-grade
intercepts located in holes reported on in the Confederation press
releases of May 1, 2013 and July 3, 2013. In addition to drilling,
some exposure of the NTS followed by surface sampling and geological
mapping is also planned.
"These favorable results underscore the long
established history of Red Lake as world class gold camp and further
bolster our excitement in the Newman Todd Project. In the context of
both volatility in the gold markets, and an out of favor market for
junior gold explorers, this project continues to deliver results that
support world class potential." Lawrence Dick, CEO Confederation
Minerals.
This press release was written by: Lawrence Dick, P.Geo, Ph.D.
Ralph Bullis, P.Geo, is the Qualified Person as defined
by National Instrument 43-101 and has reviewed the technical content
relating to the disclosed drill results in this news release. Core
samples from the program were cut in half using a diamond cutting saw
and were sent to Activation Laboratories Ltd. in Red Lake, Ontario, an
accredited mineral analysis laboratory. All samples were analyzed for
gold using standard Fire Assay-AA techniques. Samples returning over
3.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric
methods. Certified gold reference standards, blanks, and field
duplicates were routinely inserted into the sample stream as part of
Confederation's quality control/quality assurance program.
About CFM
Confederation Minerals Ltd. is a British Columbia based company
engaged in the business of acquisition, exploration and development of
mineral properties. Its objective is to locate and develop economic
precious and base metals properties of merit. Confederation Minerals
Ltd. holds an Option Agreement to acquire up to 70% of the Newman Todd
project in the Red Lake Mining District of Northern Ontario, as well
as 100% ownership in another property in the Red Lake Mining District
of Ontario.
On Behalf of the Board:
"Brian Bapty"
Brian Bapty, Ph.D.
President and Director
CORPORATE INQUIRIES
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Brian Bapty, President and Director
604-652-3950
brian.bapty@confederationmineralsltd.com
www.confederationmineralsltd.com
Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information
This news release
includes certain statements that may be deemed "forward-looking
statements". All statements in this news release, other than
statements of historical facts, that address events or developments
that the Company expects to occur, are forward-looking statements.
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates",
"believes", "intends", "estimates",
"proposes", "project", "potential" and
similar expressions, or that events or conditions "will",
"would", "may", "could" or
"should" occur. Although the Company believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in the
forward-looking statements. Factors that could cause the actual
results to differ materially from those in forward-looking statements
include market prices, exploitation and exploration successes, and
continued availability of capital and financing, and general economic,
market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements. Forward-looking statements are based on
the beliefs, estimates and opinions of the Company's management on the
date the statements are made. Except as required by applicable
securities laws, the Company undertakes no obligation to update these
forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
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