Toronto, Ontario--(Newsfile Corp. - September 20, 2018) - Eurotin Inc. (TSXV: TIN) ("Eurotin" or the "Company") is pleased to announce it has filed an updated 43-101 technical report by SRK Consulting (UK) Limited ("SRK") which includes the latest resource statement for its Oropesa tin deposit in the Region of Andalucia in southern Spain. The Company also announces successful metallurgical results from a mini bulk sample on Oropesa ore performed by Wardell Armstrong International Ltd. (Wardell Armstrong).
Using a cutoff grade of 0.15% tin, the new resource is summarized below. There have been no material changes to the prior announced October 2015 resource except for using a slightly higher cutoff grade that was determined by SRK based on updated technical and economic assessment and moreover 330k tonnes that (based on targeted infill drilling) have been moved into the measured category for mine planning purposes associated with the Company's exploitation application announced earlier in late 2017.
|Tin Cutoff Grade||Tonnes (M)||Tin Grade||Contained Tin (t'000s)|
|Measured @ 0.15%||0.33||1.09%||3.6|
|Indicated @ 0.15%||9.01||0.53%||47.3|
|Inferred @ 0.15%||3.2||0.52%||16.6|
Final Metallurgical Results
The Company also wishes to announce successful final metallurgical results from a mini bulk sample from Oropesa ore performed by Wardell Armstrong. Approximately 1.7 tonnes of PQ core from three metallurgical drill holes was used for the testwork programme. Each drill core contained a number of mineralised intersections. Each intersection was weighed, crushed and assayed for tin, iron and sulphur. The results were then used to develop a blending strategy in order to prepare a 1,000kg composite sample upon which pilot plant testing was conducted, with a target grade of 0.7-0.8% Sn (the indicative grade for the initial years of contemplated open pit mining).
A full metallurgical balance was generated using the mass pulls and recoveries from the pilot plant work, and the ancillary test work. From this a tin recovery of 74.2% at a combined concentrate grade of 62.4% tin was predicted. 64% of the recovery came from gravity concentration at a grade of 63.2% tin, and the remaining 36% came from tin flotation at a grade of 61.0% tin. The gravity concentrate contained 4.6% iron and 0.2% sulphur, both within concentrate specification limits. The tin flotation concentrates contained 13.7% iron and 1.4% sulphur. The sulphur is within limits, but the iron would be out of specification (normally 8%), which would incur a minor penalty. Regardless, the test work shows that a saleable concentrate from Oropesa was achieved.
Peter Miller, a Qualified Person as defined in NI 43-101 and a director of the Company, has approved the technical contents of this press release.
This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements, general market conditions, and the uncertainty of access to additional capital; changes in the world-wide price of mineral commodities; general economic conditions; and changes in laws, rules and regulations applicable to the Company. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Company has no intention or obligation to update the forward-looking statements contained in this press release.
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