Alexander Mining plc

February 21, 2012 06:30 ET

Alexander Mining plc: Red Crescent Resources Limited to Investigate the use of AmmLeach® Technology at its Zinc and Copper Projects in Turkey

LONDON, UNITED KINGDOM--(Marketwire - Feb. 21, 2012) - Alexander Mining plc (TSX VENTURE:AXD)(AIM:AXM) - ('Alexander' or the 'Company') -

Alexander is pleased to report that Red Crescent Resources Limited ("RCR") has announced that it intends to investigate the use of AmmLeach® technology for the primary recovery of copper and zinc from the oxide mineralisation at several of its base metals projects in Turkey.

At RCR's Hakkari Zinc flagship project in far south-east Turkey, a full feasibility study on an optimised process engineering solution utilising AmmLeach® for primary zinc metal production is expected to be completed by late Q4/2012, for reporting in Q1/2013. Furthermore, RCR has identified secondary potential which they believe to be in excess of 1.5 million tonnes of lower grade non-Direct Shippable Ore ("DSO") reject zinc material dumped regionally in Hakkari over the past 10 years by small scale miners. RCR believes this may be a major potential opportunity for low cost processing using AmmLeach®. An early concept engineering study for the gathering and processing of this mineralised material will begin in March 2012.

RCR's plan for its Sivas copper project in north-east central Turkey is to deliver early production through investigating the potential application of Alexander's proprietary oxide (AmmLeach®) and sulphide (HyperLeach®) technologies via a technical cooperation. At the Sivas Project, RCR is continuing exploration with an inaugural NI43-101 technical and resource report from exploration results up to early December 2012 for the project planned for publication in Q1/2013.

Information about Red Crescent Resources Limited

Red Crescent Resources Limited is a Canadian listed (TSX:RCB) junior mining and exploration company with a business focussed on development in the Republic Of Turkey through a 99.96% owned operating subsidiary RCR Holding A.S. The Turkish operations are targeting historically inaccessible areas for application of modern mining and exploration techniques and technology to develop the full potential of known metal and mineral assets that exhibit strong scalability and high grade.

RCR's Hakkari Zinc project is one of two flagship projects under development and which is now producing DSO while developing resources from within the mineralized zone underground and with some open pitting, this project intends to have completed its metallurgical pre-feasibility study and a provisional environmental assessment by the end of 2012 while having mined and shipped approximately 15,000t to 20,000t of zinc contained metal in DSO and concentrates.

RCR's other flagship project is the SIVAS Copper project being developed within RCR Holding A.S. subsidiary RCR Quantum A.S. and which is showing promising potential for development of a resource base in excess of 150M tonnes grading +1% Copper equivalent (with possible nickel and gold credits).

RCR's strategic and operational focus is fundamentally under-written by virtue of its situational geography; with Turkey seen as one of the fastest growing industrial economies. The sustainability of this growth is dependent upon Turkey's ability to fund the growing balance of payment deficit caused by its continued and accelerating growth in consumption of the main industrial base metal & other mineral commodities; four of the top six are copper, zinc, lead, and ferro-metals. RCR is the leader in the drive for Turkey to be as far as possible self-sufficient by virtue of its ability to produce the key industrial base metal commodities required by 2023.

Forward-Looking Statements

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at The Company disclaims any intention or obligation to revise or update such statements unless required by law.

Neither 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.

Contact Information

  • Alexander Mining plc
    Martin Rosser
    Chief Executive Officer
    Mobile: + 44 (0) 7770 865 341

    Alexander Mining plc
    Matt Sutcliffe
    Executive Chairman
    Mobile: +44 (0) 7887 930 758

    Alexander Mining plc
    1st Floor, 35 Piccadilly
    London, W1J 0DW
    +44 (0) 20 7292 1300
    +44 (0) 20 7292 1313 (FAX)

    Nominated Advisor and Broker
    Ambrian Partners Limited
    Samantha Harrison / Jen Boorer
    +44 (0) 20 7634 4700

    Joint Broker
    XCAP Securities plc
    John Grant / Karen Kelly / Adrian Kirk
    +44 (0) 20 7101 7070

    Public/Media Relations
    Britton Financial PR
    Tim Blackstone
    +44 (0) 20 7242 9786