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| | Thu Nov 15, 2007
Corporate Update: Atlin Bulk Sample
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| | CALGARY, ALBERTA --- Prize Mining Corporation ("Prize") (TSXV: PRZ) is pleased is pleased to provide an update on the 10,000 tonne bulk sampling (trial mining) program on its Atlin Gold Properties, located in northwestern British Columbia.
The bulk sample was excavated from a bedrock pit located near the west end of the Yellowjacket Zone in an area where good gold mineralization, as defined by earlier diamond drilling programs, comes to the bedrock surface. The bedrock was excavated as individual 250 tonne blocks from three levels within the pit. The excavation phase of the project was completed successfully using a large excavator for removal of the blocks. No blasting was required due to the soft nature of the altered, mineralized bedrock.
Blocks of bedrock test material were processed through the state-of-the-art Knelson designed gravity processing plant. This plant utilizes three Knelson concentrators of different diameters to produce a high-grade gold concentrate. The final concentrate is separated using a Gemini 20 table.
During the initial testing and commissioning of the plant it became apparent that the jaw and roller crusher was not working optimally with the soft bedrock material, causing blockage in the crushing plant. In order to control this problem, a washing/screening plant was implemented prior to material entering the crushing unit. This then enabled the material to be processed, however at a much slower rate than the original plant design intended. Due to this slowdown in production, the entire 10,000 tonne bulk sample, for both cost and time efficiencies, will not be completed until remodeling of the processing plant is done. Gold concentrate from the processing completed to date is currently being refined.
Prize is pleased to have SGS Mineral Services Ltd. of Lakefield, Ontario contracted to do extensive testing utilizing both a scrubbing/washing circuit and an autogenous milling circuit. The results of these tests are expected before year end, and the remodeling of the processing plant is expected to be completed in early 2008 to allow the remainder of the bulk sample blocks to then be processed efficiently.
About Prize Mining
Prize Mining Corporation (TSXV: PRZ) is dedicated to the exploration, discovery and development of precious metal deposits. Prize is exploring for gold in the Atlin area of British Columbia, Canada and for nickel-copper-palladium and platinum on the Muskox Layered Intrusion in Nunavut, Arctic Canada.
ON BEHALF OF THE BOARD OF
PRIZE MINING CORPORATION
"Harry McGucken"
Harry McGucken
President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Prize Mining Corporation
Trent Dahl
Investor Relations
604-684-4743 ext. 228 or Toll Free: 1-866-684-4743 ext. 228
Email: info@prizemining.com
Website: www.prizemining.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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