Jan 31 2015
Excelsior Mining Corp. ("Excelsior" or the "Company") is pleased to announce that its metallurgical, resource and hydrological programs are progressing successfully at the Gunnison Copper Project in Arizona. Data collection is expected to be completed by the end of Q2, 2015 and the results will be used for the preparation of the feasibility study and permit applications.
Metallurgical Program
A total of 29 samples, representing a variety of structures and rock types, have been submitted for metallurgical testing.
Twenty-three submerged column tests will leach for 60 to 120 days. These tests are designed to compare the leaching characteristics of the different rock types and fracture intensities.
A total of ten fracture simulation box tests will also form part of the overall metallurgical program, four of which are already under leach. These box tests are expected to leach for 90 to 160 days and are designed to simulate the leaching characteristics of a mineralized fracture. The results will be used to determine acid consumption and copper recovery rates for a variety of representative rock and fracture types. Photos of the current box tests can be found on Excelsior's website: http://www.excelsiormining.com/index.php/projects.
Metallurgical testing will be conducted by the independent laboratory, MAG (Minerals Advisory Group) of Tucson, Arizona under the supervision of Dr. Ronald J. Roman, an independent consultant who is a Qualified Person as defined by National Instrument 43-101. For further information please see the Company's previous news release dated November 11, 2014 - "Successful Metallurgical Drill Program Concludes at Gunnison".
Resource Upgrade Program
A total of 13 diamond drill holes, totalling 17,110 feet, were completed in December, 2014. Assay results from this drilling are expected in Q1 of this year. The program is designed to convert a large part of the Gunnison Project inferred mineral resource of 1.4 billion pounds of copper (338 million tons grading 0.21% Cu) into the measured & indicated mineral resource categories. A new resource calculation is expected by the end Q2, 2015. For further information please see the Company's previous news release dated November 5, 2014 - "Excelsior Commences Resource Upgrade Drill Program"
Hydrology Program
Drilling of Excelsior's 26 hydrological test wells is approximately 90% complete. Extensive geophysical logging and pump testing will be conducted on these holes to define the hydrological properties that control fluid movement through the naturally fractured, mineralized, bedrock. For further information please see the Company's previous news release dated October 28, 2014 - "Excelsior Commences Hydrological Program"
Commenting on the progress of the work program, Stephen Twyerould, President & CEO, said, "We are very satisfied with the pace and efficiency of the current work program and expect to meet our data collection timelines. The quality and quantity of the information we are generating is of exceptional standard and this bodes well for the quality of our current feasibility program on the Gunnison Project."
About Excelsior
Excelsior is a mineral exploration and development company that is advancing the Gunnison Copper Project. The Excelsior management team consists of experienced professionals with proven track records of advancing mining projects into production. Further information about the Gunnison Copper Project can be found in the technical report filed on SEDAR at www.sedar.com entitled: "Gunnison Copper Project, NI 43-101 Technical Report, Prefeasibility Study" dated February 14, 2014.
Dr. Stephen Twyerould, Fellow of AUSIMM, President and CEO of Excelsior, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information disclosed in this news release.
For more information on Excelsior, please visit our website at www.excelsiormining.com.
ON BEHALF OF THE EXCELSIOR BOARD
Mark J. Morabito, Executive Chairman