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Crosshair Recovers 314 Ounces of Gold from Golden Promise
Apr. 20, 2011 (Filing Services Canada) -- Crosshair Exploration & Mining Corp. (CXX - TSX, CXZ ...
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[{"type":"text","content":"\nCrosshair Recovers 314 Ounces of Gold from Golden Promise\n\n Apr. 20, 2011 (Filing Services Canada) -- Crosshair Exploration & Mining Corp. (CXX - TSX, CXZ - NYSE - Amex),is pleased to announce that the final results from the trenching and bulk sampling program carried out on the Golden Promise Property in central Newfoundland, Canada have been received.  The Property is a Joint Venture with Paragon Minerals Corporation (TSX.V: PGR), whereby Crosshair currently owns 60%.  The purpose of the program was to determine the recoverability of the gold and to accurately determine the quantity of gold in a portion of the deposit. A total of 2,174 tonnes (t) were delivered to the Nugget Pond Mill in Baie Verte, Newfoundland owned and operated by Rambler Metals and Mining Canada Limited (AIM:RMM) (TSX.V: RAB).  Two gold bars weighing 5.37 kilograms (kg) were poured and shipped to Johnson Matthey Limited (\"Johnson Matthey\") in Toronto for refining.  In addition to the bars, the ball mill and SAG mill were cleaned out and 482.5 kg of concentrate were also shipped to Johnson Matthey for treatment and refining.After refining, the bars and the mill concentrate produced a total of 313.59 ounces of gold and 23.05 ounces of silver which were sold for net receipts of CDN$430,001.85 after treatment charges. Based on the mill records and the total gold recovered, the average recovered gold grade was 4.47 g/t gold.  The average tails grade was 1.12 g/t gold indicating a back-calculated head grade of 5.59 g/t gold with an 80% recovery.  While an overall recovery of 80% is positive it is lower than predicted by the bench scale test work.  It is believed that the lower than expected recovery is due to the presence of carbonaceous material in the waste rock.  In future, this issue can be mitigated by modifying the circuit to a carbon in leach process as opposed to a carbon in pulp process.  This would result in a minor modification to the flow sheet which will be further refined in future metallurgical test programs. For reconciliation purposes, Crosshair compared the head grade with the estimated sample grade using the block model prepared in April 2008 by Gary Giroux, P.Eng. which stated an inferred resource of 921,000t at 3.02 g/t gold (for further details, ...