Gold Reach Resources Ltd.

TSX VENTURE : GRV


Gold Reach Resources Ltd.

January 08, 2014 08:00 ET

Gold Reach Announces Positive Metallurgical Results from the Ox Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 8, 2014) - Gold Reach Resources Ltd. (TSX VENTURE:GRV) (Gold Reach and/or the Company) is pleased to announce results of metallurgical testing from the Ox Deposit located on the company's 100% owned Ootsa Property, located adjacent to the producing Huckleberry copper Mine south of Smithers, British Columbia.

HIGHLIGHTS

  • Excellent Optimized Rougher Flotation Recoveries - Optimized rougher floatation concentrates from the Ox deposit have returned recoveries of 94.1 and 94.5% for copper and 91.7 and 93.1% for molybdenum.
  • Copper Concentrates Produced - Two copper concentrates based on 4 cleaner stages were produced, the first grading 24.5% copper, 4.0 g/t gold, and 107.1 g/t silver and the second grading 23.6% copper, 3.3 g/t gold, and 97.7 g/t silver.
  • Molybdenum Concentrate Produced - A molybdenum concentrate based on 2 cleaner stages graded 51.6% molybdenum along with 113 ppm rhenium.

Metallurgical Studies

Metallurgical testing was performed by Inspectorate Exploration and Mining Services Ltd. located in Richmond British Columbia, and initial testing was done on a single 323 kg composite sample of representative mineralization from the Ox deposit obtained from 2013 drill core. The primary objectives of the testing were to determine the optimal flotation conditions for the Ox deposit material and to produce high-grade copper and moly concentrates with acceptable recoveries of gold and silver.

A total of four batch rougher and four batch rougher-cleaner tests were completed with varying test parameters to help optimize the floatation process. The table below shows the results of 4 rougher floatation tests conducted at various grind sizes and test conditions. These results show excellent copper recoveries are attainable at varying grind sizes. Molybdenum, gold, and silver also show strong recoveries over varying test conditions.

Ox Sample Rougher Circuit Results at Different Grind Sizes and Varying Conditions
Rougher Circuit Recovery %
Sample Test Grind Size microns Feed Grade % Cu Feed Grade % Mo Cu Mo Au Ag
F1 146 0.33 0.043 93.1 78.4 91.2 82.9
F2 125 0.33 0.043 95.1 84.7 70.9 80.3
F3 97 0.33 0.043 96.3 88.3 81.9 81.9
F4 99 0.33 0.043 97.1 82.6 83.8 75.2

Following rougher optimization two bulk floatation tests (BF1 and BF2) utilizing 100 kg samples at optimized test conditions were performed and are shown in the table below. This testing resulted in excellent recoveries of 94.1 to 94.5% for copper, 91.7 to 93.1% for molybdenum, 62.1 to 79.2% for gold, and 78.0 to 90.1% for silver.

Ox Rougher Circuit Bulk (100kg) Floatation Tests at Optimized Conditions
Rougher Circuit Recovery %
Sample Test Grind Size microns Feed Grade % Cu Feed Grade % Mo Cu Mo Au Ag
BF1 95 0.33 0.043 94.5 91.7 79.2 90.1
BF2 95 0.33 0.043 94.1 93.1 62.1 78.0
Average: 94.3 92.4 70.7 84.1

Copper concentrates were produced from samples BF1 and BF2 based on only 4 open-circuit cleaner stages. Sample BF1 produced a copper concentrate grading 24.5% copper, 4.0 g/t gold, and 107.1 g/t silver. Sample BF2 produced a copper concentrate grading 23.6% copper, 3.3 g/t gold, and 97.7 g/t silver. A molybdenum separate was made from the BF2 concentrate producing a second cleaner concentrate grading 51.6% molybdenum along with 113.3 ppm rhenium.

Assaying of the final concentrate products shows they are 'clean' with very low trace element concentrations that can pose problems or penalties at smelters (such as As, Sb, Bi, Hg).

The rougher flotation results represent the maximum metal recoveries obtainable using standard flotation methods for typical porphyry Cu systems. The actual recoveries from a mine scale floatation plant will be lower than the rougher concentrate, as subsequent steps are taken to remove unwanted materials and increase the grade of the final concentrates.

Dr. Shane Ebert, President of the company, stated, "The Ox metallurgical test work shows that excellent recoveries are achievable utilizing industry standard methods. No metallurgical problems have been identified and the concentrates do not contain significant deleterious elements. These favorable metallurgical results continue to remove project risk as the company advances the Oota Project."

About Gold Reach Resources

The Ootsa property is an advanced stage exploration project containing the Seel and Ox porphyry systems both with compliant resource estimates open for expansion. The Company has completed 134,878 metres of core drilling on the property to date, with 36,135 meters completed during 2013. An updated resource for the Ox deposit is expected shortly and an updated resource on the Seel deposit is expected in the first quarter of 2014.

Dr. Shane Ebert, P. Geo. is the Qualified Person responsible for the preparation of this news release.

Shane Ebert, President/Director

Neither the 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.

Safe Harbour Statement: The Company relies upon litigation protection for "forward-looking statements." The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.

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