Business
Radcliff Property – Bulk Sample Grade Settlement at 0.52 oz per tonne
(via TheNewswire) Vancouver, BC / TheNewswire / May 24, 2017 - CMC Metals Ltd. - ("the Co...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"Radcliff Property – Bulk Sample Grade Settlement at 0.52 oz per tonne(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / May 24, 2017 - CMC Metals Ltd. - (\"the Company\") - and its joint venture partner, Pruett Ballarat Inc. (\"PBI\"), are pleased to announce that they have received a final grade and payment from their first test batch of approximately 500 tons of material from the Radcliff Property. The bulk sample was sent for processing at the Klondex Mines Operations Inc. (\"Klondex\") Midas Mill, located in Elko County, NV. The underground bulk sample was extracted from four drifts developed on 5510' level. The joint venture received payment based on a gold price of USD 1,265.63. (This price was determined as the average PM price fix on the London Bullion Exchange for the period April 3rd, 2017 to April 28th, 2017, inclusive.) Proceeds will be used for further bulk sample development work at Radcliff, and general working capital.\n\n \n \nThe sample process comprised 422.86 dry metric tonnes (\"tonnes\", measured as 466.12 short tons (\"tons\")) grading 0.520 oz / tonne (0.472 oz / ton). As delivered, the sample comprised 12 truckloads, totaling 444.18 wet tonnes (489.62 tons) with average moisture determined at 4.8%.\n\n \n \nThe bulk sample material was processed subject to the terms of an agreement for purchase and sale of gold bearing rock which allows for Klondex to process up to 6,000 tons of oxide-dominated gold-bearing rock, in batches of 1,500 tons, with provision for this initial smaller batch of Radcliff bulk sample mineralized rock to be treated (approximately 500 tons). \n\n \n \n\"The Radcliff bulk sample validates our view that the Radcliff project comprises extractable gold mineralization; the occurrence is characterized by variable grade, including areas of high grade. The bulk sample result provides the Company and PBI with the confidence to continue with further bulk sample development\" stated Ian Graham, CEO.\n\n \n \nThe Company has granted 814,000 incentive stock options to directors, officers, employees and or consultants of the company under the company's stock option plan. The options are exercisable at a price of 12 cents and expire May 22, 2019. \n\n \n \nAbout CMC Metals. \n\n \n \nCMC Metals Ltd. is a mineral exploration company focused on opportunities in the United States...