(FSE:GKW) (“Gold Horizons Mining Co. Ltd.” or the “Company”) is pleased to announce results from the laboratory flotation test completed on Blanca Vein, June 13th, at their Angostura Joint Venture Project. The test was carried out and completed by C.M Alborada Eirl Laboratories, located in Nazca, Peru. The Blanca vein is part of the Gloria Concession which is a NI 43-101 compliant, inferred mineral resource project in Arequipa, Peru.
The C.M Alborada test indicated recoveries of up to 90% gold. The head grade of the test sample was 6.04 grams per ton. Several different flotation gravimetric tests were carried out with a variety of different recovery techniques. The results indicated that the best recovery came from the flotation extraction method, with a 90.56 recovery, see flotation report.
The carbon in pulp process (CIP) has been the preferred method to process gold at the Gloria concession and in the surrounding mines. Flotation offers several distinct economical and environmental advantages compared to the CIP process. Flotation does not use any dangerous chemicals, CIP however, uses cyanide to leach the gold. Cyanide is associated with many ill health effects and environmental pollution. Furthermore, the cost of the chemicals used in flotation are significantly less expensive thereby lowering the cost of processing the mineral by up to 75% per ton.
Scott Francis CEO & President stated, “ We are very excited with these preliminary flotation results. It is an environmentally friendly technology with little to no toxicity for the environment. Additionally, the government agencies approve permits much quicker for new (flotation) processing plants. Gold Horizons Mining is involved in setting up a new processing plant near the Gloria Mine. The surrounding communities welcome flotation processing plants because they provide jobs and do not put their environment at risk.”
Gold Horizons Mining Co. Ltd is currently in the midst of a Rights Offering. The Company will utilize the funds raised and intends to invest to increase monthly production at the mine and upgrade the processing plant’s capacity to 1500 tons per month, which the Company expects will produce up to 200 ounces of gold per month.
About Gold Horizons Mining Co. Ltd.
Gold Horizons Mining Co. Ltd is a start up gold and silver producer as well as an exploration company operating in Arequipa, Peru. The Company is committed to building long-term shareholder value through strategic opportunity and identification in the mineral resource sector. The Company specializes in small mine development, specifically underground, narrow vein mining. The Company’s strategy has evolved to include the processing of its own mineral, which has lowered the total costs by up to 50% per ounce. The Company, in partnership with its Peruvian joint venture partner, locates, develops, and operates near production ready mineral projects in Peru.
Forward Looking Statements
This press release contains “forward-looking information. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include statements regarding production estimates and targeted production for 2012. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “planned”, “expects”, “indicates”, and “estimated”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.