Press Release - NWM Pours First Gold at Lluvia-Jojoba Project
TSX Venture Exchange - Symbol: COL - Shares Outstanding: 94,970,527
NWM Mining Corporation (the "Company") (TSX-V: COL) is pleased to announce that the ongoing commissioning and ADR plant tune-up initiatives at the Lluvia-Jojoba project in Sonora State, Mexico, has resulted in the pouring of its first gold dor� button.
The Lluvia-Jojoba project is located near Santa Ana in Sonora State, just south of the US border with Mexico. Mineral Resources for the project are defined by a series of gold grade vs. tonnage tables for a variety of cut-off grades as presented in the Company's previously filed 43-101 Technical Report. Property wide 43-101 compliant gold resources at the 0.30 g/t Au cut-off consist of 150,526 oz. Au in the measured category, 164,686 oz. Au in the indicated category (for a total of 315,212 oz. Au) and a further 262,195 oz. Au in the inferred category. The Company's ground package includes 14 mineral claims, four of which are held under an option agreement with the final option payment due prior to yearend. The 14 claims cover 5,074 hectares of prospective ground between and around two known gold and copper ore bodies and an operational gold recovery plant. Following production start-up, the Company is planning further exploration work on its consolidated district level ground position.
A SART (Sulphidation Acidification Recycling Thickening) circuit has also been added to the Carbon in Column gold recovery circuit at the Lluvia-Jojoba project. Copper sulphide recovered in the SART plant will be sold by BioteQ, the Company's technology partner, and free cyanide will be recycled to the leach circuit. It is anticipated that the addition of the SART process will benefit project economics materially by both establishing a new revenue stream from recovered copper and by recovering cyanide for further use in the leach circuit. Commissioning of the SART plant is underway, with full operations anticipated for early in the fourth quarter.
BioteQ Environmental Technologies Inc. ("BioteQ") (TSX: BQE) is the Company's technology partner and operator of both the gold and copper recovery plants at the Lluvia-Jojoba project. BioteQ has proprietary technology that uses sulphide to remove dissolved metals from effluents, and is applying this expertise at the SART plant. BioteQ has provided the capital for the SART plant, in exchange for a share of the metals recovered and a cyanide regeneration fee.
Rodney A. Blakestad, B.Sc., J.D., C.P.G., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of this press release.
For further information, please contact NWM Mining at (416) 364-6799.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release may contain 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 "might" or "will" occur. Forward-looking statements are based on current expectations that involve a number of risks and uncertainties which could cause actual events or results to differ materially from those reflected herein. Forward-looking statements are based on the estimates and opinions of management of the Company at the time the statements were made. These factors include the inherent risks involved in the development, construction and operation of mining and gold recovery projects, fluctuations in commodity and equity markets, 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. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made.
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