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TORONTO, April 27 /CNW/ - COGITORE Resources Inc. (the "Company") (WOO: TSX-V) is pleased to provide an update on the on-going feasibility study at its Estrades project.
Genivar, the consulting engineering firm commissioned by Cogitore to provide a feasibility study on the Estrades project, has now completed a mining plan on the Main Zone based on the independent resources calculations completed by Scott Wilson Roscoe Postle Associates Inc. ("Scott Wilson RPA") in their November 2006 NI-43-101 compliant Technical Report (filed on SEDAR). The Genivar plan considers two different mining methods and includes all the necessary development, a detailed mining schedule, and staffing and cost estimates. Estimates of capital costs are in progress and contacts have been made with potential custom mills.
A review of old metallurgical reports undertaken by Genivar led the firm to recommend detailed metallurgical laboratory testing in order to attempt to improve on gold and silver recoveries by gravity separation. In addition, further test work will focus on gaining more selectivity, enhancing overall metal recoveries and producing concentrates of better quality than what was achieved previously on plant scale in the early 90's.
A 160 kilogram metallurgical sample was obtained by re-entering three old holes drilled through the Main Zone in the late 1980's and drilling a series of "wedge cuts" from these holes. The metallurgical holes were selected to achieve an average grade close to the expected head grade and to be representative of the zinc-rich ore below the 200m level. The sample was delivered to SGS Lakefield Research Limited on March 2, 2007 and flotation and other tests are currently under way. While the completion of these tests will delay the delivery of the feasibility report, Genivar believes that the potential upside of the metallurgical testing is such that the tests should be done as part of the feasibility study.
Cogitore's President Gerald Riverin states "metallurgical performance has a direct impact on the net smelter return of the ore and therefore also on cut-off grades, mining reserves, and ultimately on profitability of any mining project." Cogitore's Board of Directors therefore approved Genivar's and management's recommendation to carry out the metallurgical tests. As a result, completion of the feasibility report is now expected late in the second quarter of 2007. In addition to, and independently of the feasibility study, a formal application for a Certificate of Authorization for the mine was filed at the Ministere du Developpement durable, de l'Environnement et des Parcs du Quebec, which is the organization responsible for authorizations and permits to carry out projects (such as mining) that may affect the environment. The Ministere has committed to complete its review within 75 days of submission of the application document.
A TITAN 24 test survey was completed by Quantec Geoscience Inc. around the Estrades deposit in January and the final report is soon expected. The winter exploration diamond drilling program at the Estrades project is now complete and the Company will provide an update on drilling results shortly. After a short break for routine maintenance, the drill rig will be mobilized to the Scott Lake project to resume drilling in early May.
Work is carried out by the personnel of Cogitore Resources Inc., under the supervision of Gerald Riverin, PhD, P.Geo. He is a qualified person (as defined by National Instrument 43-101) and has more than 30 years of experience in exploration.
The Company has developed a strategic focus on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Accordingly, it focuses its work in the Abitibi Belt of Quebec and Ontario, and in the Central Belt of Newfoundland. The company maintains annual drilling contracts and is adequately funded to drill year-round.
On Behalf of the Board of Directors
Gerald Riverin
President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00020132E