Crown Mining Begins Metallurgical Tests
TSX VENTURE: CWM
Toronto, Ontario--(Newsfile Corp. - December 14, 2016) - Crown Mining Corp. (TSXV: CWM) ("Crown" ), is pleased to announce that it has begun a metallurgical study ("Study") to verify metal recoveries previously determined by Placer-Amex in the 1960's on its Moonlight-Superior copper project, located in Plumas County, northern California.. Dr. Corby Anderson, through Allihies Engineering Incorporated, will conduct this metallurgical review which will include updating processing cost estimates on the Moonlight and the Superior copper deposits. Crown expects this Study will be completed in the first quarter of 2017.
Crown has also recently received an engineering and economic report ("Report") from Mine Development Associates ("MDA"). This Report was commissioned as an internal evaluation for determining whether the existing Moonlight-Superior resources are viable under reasonable economic and mining assumptions and, if so, to assist management in planning near-term future programs to justify commissioning a 43-101 preliminary economic assessment ("PEA").
MDA is a Reno, Nevada based geology and mining engineering consulting firm that serves the mining industry worldwide. The Report relied heavily on resource estimates presented in 43-101 technical reports (Cavey and Giroux, 2007 and Tanaka, 2013) and included the construction of Whittle pit shells using different copper prices. Sensitivity analysis was also done to consider variations in grade, capital and operating costs, throughput and other variables.
In addition, Crown is planning a small drilling campaign to better define and assess the higher grade portions of the deposits.
Crown is focused on advancing its 100% controlled Moonlight-Superior Copper Project in Northeast California which includes 4 known copper deposits. The Moonlight deposit hosts a current National Instrument 43-101 ("NI 43-101") indicated resource of approximately 161 million tons (146.5 million tonnes) averaging 0.324% copper, 0.003 ounces of gold and 0.112 ounces of silver per ton, and an inferred resource of 88 million tons (80 million tonnes) averaging 0.282% copper per ton. Further details of this resource can be found in the Technical Report on the Moonlight Copper Property dated April 12, 2007 at Sedar.com. The Superior and Engels deposits have a current NI 43-101 inferred mineral resource of 57 million metric tonnes at an average copper grade of 0.43%. Further details of this resource can be found in the Technical Report on the Superior Project dated November 7, 2014 filed on Sedar which also discloses a historical estimated resource for the fourth deposit.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crowngoldcorp.com.