Plexmar Resources Inc.

Plexmar Resources Inc.

March 02, 2010 13:36 ET

Plexmar Resources Inc.: Malin Plant at 80% Completion

QUEBEC CITY, QUEBEC--(Marketwire - March 2, 2010) - Plexmar Resources Inc. (TSX VENTURE:PLE) has been informed by its joint venture partner J&M Business (a private Peruvian company) that the flotation Mill at its Malin Plant site near Trujillo has been reconditioned and upgraded to a 90% mechanical and 70% electrical completion.

Photos from work being done on the Malin Plant can be viewed on our web site at or by clicking on the following link:

The plant is expected to be in start-up mode in April 2010 at a rate of 60 tons per day and production will increase to 120 tons per day in the third quarter of 2010. The original feed for the plant will be sourced from some of Plexmar concessions and our Peruvian partner consisting mostly of high grade copper-gold ores. In addition to reconditioning and upgrading of the plant, leach tanks are being added to process gold ores in a separate circuit.

The following sections of the Malin plant were reconditioned and overhauled:

  • For higher quality sampling, a conveyor belt was added to the crushing system. It is now an independent circuit.
  • The flotation circuit has been upgraded, the classic Denver flotation cells were replaced by WC cells (closed model), which are similar to small leach tanks with a diffusor creating foam for producing concentrates of copper with silver and gold content.

The civil works for the gold leach agitation tanks and construction are 70% completed. As a result the gold circuit will be functional shortly after plant startup.

The total investment in the plant itself will be in excess of $0.9 Million. J&M has hired an Accredited Consulting firm authorized by the Ministry of Mines and Energy to produce the EIA (Environmental Impact and tailings study). The study once approved by the Ministry requires that all work to be completed onsite be supervised by the Accredited Consultant prior to the final permit delivery.

Plexmar looks forward to the sharing of revenues on a 50-50 basis with J&M and to apply its share to the exploration of its concessions in Peru. Plexmar owns 4 concessions in the vicinity of the Malin Plant and also owns 225 km square of concessions (Bolsa del Diablo) in Northern Peru.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

172 M shares outstanding

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    418-658-6776 ext. 107