Golden Reign Recovers 91% of Gold in Metallurgical Tests of Potential Oxide Open Pit


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TSX.V:GRR
03/27/2014 [ACCESSWIRE]

VANCOUVER, BC / ACCESSWIRE / March 27, 2014 / Golden Reign Resources Ltd. (TSX-V: GRR) (the "Company" or "Golden Reign") is pleased to announce that it has received the final metallurgical report from Inspectorate Exploration & Mining Services Ltd's Metallurgical Division ("Inspectorate"). This second stage of metallurgical testing focused solely on the oxide (weathered) portion of the San Albino Deposit, in preparation for designing a concentrator mill flow sheet prior to construction of a mill and open pit mine.

In late 2013, the Company drilled 10 large core (PQ) drill holes specifically for metallurgical testing purposes, for a total of 238.6 metres. Drilling targeted the oxide portion of the three main mineralized structures comprising the San Albino Deposit, to a depth of approximately 50 metres from surface. Mineralized samples from the drill holes were sent to Inspectorate to evaluate the best metallurgical procedures for optimizing gold recovery.

Four composite samples, representing low and high grade mineralization, were tested for gold recovery using centrifugal gravity concentration followed by cyanide leaching using the CIL process.

The combined gravity and cyanide leach tests yielded total gold recoveries in the range of 91.0 to 93.5%, with the exception of only one sample, AR-01, which returned a combined gold recovery of 82.9%. Combined silver recoveries were in the range of 42.7 to 68.0% for all four composites.

Simple gravity concentration tests returned excellent gold recoveries in the range of 47.1% to 56.9% in all four composites. Interestingly, these are lower than the gravity recoveries from the sulphide zone obtained in the first round of metallurgical testing.

The gravity concentrates were leached by cyanide solution for 72 hours using a carbon-in-pulp leach (CIL) test. All of the composite samples responded similarly to CIL leaching, with gold leach extractions ranging from 83.0 to 85.6%, with the exception again of composite AR-01, which yielded 67.3% gold extraction.

One sample of gravity tails was subject to a CIL test over a reduced time period of only 24 hours. There was an insignificant effect on gold and silver recoveries; however, the shorter period of leaching resulted in significantly reduced cyanide consumption (61% less).

This test work follows an initial stage of metallurgical testing (Stage I) conducted in early 2013, which also returned excellent gold recoveries. That program tested the results of gravity concentration followed by flotation. Flotation was particularly successful in the non-weathered (outside of pit) portion of the deposit.

On behalf of the Board,

"Kim Evans"

Kim Evans, CGA

President & CEO

About Golden Reign:

Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR) mineral exploration company engaged in exploring the San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua.

The Company's land package comprises 13,771 hectares (138 km2) of highly prospective ground. Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by 20 kilometres long and spans the entirety of the Company's land package.

For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.

Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.

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.

 

SOURCE: Golden Reign Resources Ltd.

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