TORONTO, ONTARIO–(Marketwired – April 25, 2017) – Euro Sun Mining Inc., (TSX:ESM) (“Euro Sun” or the “Company”) is pleased to report that gold recovery to concentrate has increased from 72% to 82% utilizing new metallurgical test work on mineralized material from its gold and copper Rovina Valley Project (the “Project” or “RVP”) located in east-central Romania. The new management of Euro Sun initiated a new metallurgical study by Eriez Flotation Division (“Eriez”), a leading flotation engineering firm based in Erie, Pennsylvania, using their proprietary column cell technology.
Highlights from the metallurgical test program include:
- Gold recovery ranging from 81.4% to 82.1% at a gold concentrate grade of 109.1 g/t to 118.6 g/t
- Copper recovery ranging from 86.9% to 88.9% at a copper concentrate grade of 19.48% to 21.31%
- No Cyanide is used in any of the current test work nor will it be contemplated for the Project
- Current open circuit testing sees a likely bump in recovery once closed circuit testing is completed
G. Scott Moore, President and CEO of Euro Sun Mining, stated, “We are very pleased with the results from these tests, which indicate that we will be able to produce a saleable copper concentrate. The recoveries and concentrate grades from these tests surpassed the results from all previous tests, and we believe this demonstrates an increase in the economic value of the ore, which will positively impact several aspects of the project in our feasibility study.”
The metallurgical test work was conducted on a master composite from the Colnic gold and copper porphyry mineral deposit.
| Table 1 – Bulk Run 1, Column Rougher-Scavenger and Cleaner Flotation Results | |||||||||
| Copper Grade and Recovery (%) | Gold Grade (g/t) and Recovery (%) | ||||||||
| Streams | Feed | Tail | Conc. | Conc. Yield | Recovery | Feed | Tail | Concentrate | Recovery |
| Rougher-Scavenger | 0.12 | 0.01 | 1.31 | 8.67 | 95.40 | 0.73 | 0.10 | 7.38 | 87.27 |
| 1st Cleaner | 1.33 | 0.04 | 3.85 | 33.74 | 98.00 | 7.20 | 0.17 | 21.01 | 98.45 |
| 2nd Cleaner | 3.93 | 0.30 | 8.20 | 45.96 | 95.83 | 20.85 | 0.18 | 45.16 | 99.54 |
| 3rd Cleaner | 8.05 | 0.40 | 19.48 | 40.09 | 97.02 | 45.97 | 3.73 | 109.11 | 95.16 |
| Combined (Global) | 0.12 | 19.48 | 0.54 | 86.9 | 0.73 | 109.1 | 81.4 | ||
| Table 2 – Bulk Run 2, Column Rougher-Scavenger and Cleaner Flotation Results | |||||||||
| Copper Grade and Recovery (%) | Gold Grade (g/t) and Recovery (%) | ||||||||
| Streams | Feed | Tail | Conc. | Conc. Yield | Recovery | Feed | Tail | Concentrate | Recovery |
| Rougher-Scavenger | 0.12 | 0.01 | 1.39 | 8.24 | 95.41 | 0.73 | 0.09 | 7.84 | 88.56 |
| 1st Cleaner | 1.45 | 0.04 | 4.08 | 35.01 | 98.21 | 7.76 | 0.19 | 21.81 | 98.37 |
| 2nd Cleaner | 4.11 | 0.17 | 8.45 | 47.67 | 97.85 | 21.58 | 0.20 | 45.05 | 99.50 |
| 3rd Cleaner | 8.17 | 0.40 | 21.31 | 37.15 | 96.90 | 46.50 | 3.89 | 118.58 | 94.74 |
| Combined (Global) | 0.12 | 21.31 | 0.51 | 88.85 | 0.73 | 118.58 | 82.12 | ||
Corporate Update
Feasibility Study
Euro Sun has received several proposals for the completion of a feasibility study on the development of Phase I of the Rovina Valley Project. The Company expects to announce a successful bidder in the coming weeks.
Permitting
Euro Sun received a mining licence from the Romanian National Agency for Mineral Resources (“NAMR”) in May, 2015, signifying an important transitional milestone from the exploration stage to the exploitation phase. The Company is working diligently to have the mining licence ratified by the four required ministries (Environment, Economy, Justice and Finance), and published in the government gazette.
Since the legislative elections held on December 2016, the Romanian government has reshuffled the cabinet twice. The latest change, in April 2017, included a new Environmental Minister. As such, three of the four required Ministers have been changed in the first 90 days of the new government. This has unfortunately set back our efforts in getting the licence ratified in the first quarter of 2017, since any ministerial changes require us to restart the ratification process. We are working diligently with NAMR to get the ratification process initiated now that all four ministers are in place and not likely to be changed in the near term.
Euro Sun has gained strong local support for the Rovina Valley Project, evidenced by written letters of support from all the local communities around the project in addition to the neighbouring county of Hunedoara.
Once the mining licence is ratified, Euro Sun can move ahead with the completion of an Environmental and Social Impact Assessment on the Rovina Valley Project, which the Company expect to complete in parallel with the feasibility study.
Exploration
Field work is on-going on the Stanija prospect (located approximately 3km from the Rovina Valley Project), with an extensive exploration program outlined for this quarter. Following a review of these results, the Company will determine whether drilling is merited under the prospecting permit.
Qualified Persons
The scientific and technical information pertaining to the metallurgical studies presented in this press release has been reviewed and approved by Joseph C. Milbourne, Vice President Technical Services for Euro Sun, who is a Qualified Persons as defined by National Instrument 43-101.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.
Caution regarding forward-looking information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the election of directors. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company’s website at www.eurosunmining.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
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