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Re: News Release - Tuesday, December 08, 2009
BacTech's Partner Caldera Completes Gold Sampling Program in
Armenia
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Toronto, Canada, December 8, 2009 - BacTech Mining Corporation
("BacTech" or the "Company", TSX.V: BM) today announced that its
strategic partner, Caldera Resources Inc. ("Caldera", TSX-V:CDR), has
completed its sampling program at the Lichkvaz-Tey gold project in
Armenia.
As mentioned in the November 17, 2009 news release, the Lichkvaz-Tey
gold property has a Soviet-era GKZ mineral resource, categorized as C1
and C2, of 2.781 million tonnes grading on average 6.18 g/t Au, 34.2
g/t Ag and 0.41% Cu. This translates to approximately 553,895 oz of
gold, 3 million oz of silver and 25 million pounds of copper.
Under the supervision of Mr. Ricardo Valls, M.Sc., P.Geo, independent
geologist for Caldera, approximately 400 kg of samples were collected
and have been packed for shipment from Yerevan, Armenia, to SGS
Lakefield, Canada. Approximately 340 kg of these samples will arrive in
Canada within the next 45 days.
The balance of the samples, approximately 60 kg, was brought directly
to Canada by Mr. Valls, P.Geo., and will be delivered to SGS Lakefield
this week. These initial samples will be processed and the concentrates
will be received by BacTech to begin bioleach amenability test work.
Mr. Ross Orr, President and CEO of BacTech stated, "Caldera has moved
very quickly to obtain material for us to work on considering the
approvals were only received last month. The initial 60 kg sample that
is coming directly back to Canada will allow us to get a good jumpstart
on the test work."
"We are one step closer to our goal of acquiring the Lichkvaz-Tey
polymetallic gold project. The cooperation of the staff at the Ministry
of Energy and Mines and the support of the local workforce, made the
process almost effortless. We thank the Ministry of Energy and Mines
and especially thank Mr. Valls, our independent geologist, for his
excellent work," said Bill Mavridis, President of Caldera.
About the Lichkvaz-Tey gold project
The Company is seeking to acquire and develop 40% of the Lichkvaz-Tey
gold property, located in the Republic of Armenia. The project is
currently owned by the Armenian government. Certain exploration results
referred to herein are historical in nature and were compiled before NI
43-101. Caldera has not independently analyzed the results of the
previous exploration, therefore the historical results should not be
relied upon. Caldera and BacTech believe these historical results
provide an indication of the potential of the properties and are
relevant to ongoing evaluation of the project.
BACTECH PROFILE
BacTech owns patented bacterial oxidation technology for the treatment
of refractory ores and concentrates to enhance the recovery of gold,
silver and base metals. The Company's focus is the acquisition of
equity positions in projects amenable to bioleaching. In September
2008, BacTech signed an MOU to investigate the use of bioleaching to
reprocess arsenic-laden tailings in Cobalt, Ontario. This is the
Company's first foray into the cleantech industry. BacTech is
continuing to evaluate additional remediation projects.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to the Company,
certain information contained herein constitutes "forward-looking
statements". Forward-looking statements are frequently characterized
by words such as "plan," "expect," "project," "intend," "believe,"
"anticipate" 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 ecological 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 described in
the section entitled "Risks" in the Company's Management Discussion and
Analysis for the Year Ended December 31, 2008. Circumstances or
management's estimates or opinions could change. The reader is
cautioned not to place undue reliance on forward-looking statements.
- 30 -
For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Shares outstanding 89,264,706
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2009 BACTECH MINING CORPORATION (BM) All rights
reserved. For more information visit our website at
http://www.bactech.com/ or send mailto:info@bactech.com
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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : BM.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
BacTech Mining is a gold development stage company based in Canada. BacTech Mining holds various exploration projects in Armenia. Its main exploration properties are FERGUSSON ISLAND in Papua New Guinea and LICHKVAZ-TEY in Armenia. BacTech Mining is listed in Canada and in United States of America. Its market capitalisation is 4.3 millions as of today (US$ 3.0 millions, € 2.7 millions). Its stock quote reached its highest recent level on January 30, 1998 at 99.50, and its lowest recent point on April 22, 2016 at 0.03. BacTech Mining has 47 442 200 shares outstanding. |