Trading Symbol TSX:V GTC
VANCOUVER, May 6 /CNW/ - Getty Copper Inc. is pleased to announce an update on the Preliminary Feasibility Study engineering report being carried out by West Coast Engineering and Environmental under the direction of Mr. Craig Parkinson P.Geo, the Qualified Person responsible for this study. As the Getty North NI 43-101 compliant resource has been updated with molybdenum values, West Coast reports that the processing plan is proposed to be altered to effectively accommodate the molybdenum resource. To facilitate effective recovery of the molybdenum resource, the option of dump and heap leaching of oxide ores has now been replaced by a flotation tailings leach system. This methodology is anticipated to allow maximum potential utilization of the updated Getty resources and is analogous to other recent and successfully operating global hydrometallurgical production facilities. Further, given the current global crisis in molybdenum roasting capacity, West Coast is now designing incremental added capacity in the hydrometallurgical pressure oxidation and metal recovery circuits for potential on-site custom processing of outside copper and molybdenum concentrates from other entities with available materials. In particular, the hydrometallurgical process plant now proposed for Getty by West Coast should allow treatment of much lower grade combined bulk copper and molybdenum concentrates which could be a significant advantage over current molybdenum concentrate production and roasting practices.
The company also announces that it has restructured its management team.
Mr. John Parks has resigned after respectfully requesting the board to find a replacement thereby allowing him to dedicate the necessary time to his personal business interests. The Company wholeheartedly thanks Mr. Parks for his years of dedicated service.
Certain statements in this document constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
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Dr. Corby G. Anderson, President and COO