(FSE:GKW) (“Gold Horizons Mining Co. Ltd.” or the “Company”) is pleased to report our senior joint venture partner, Atlantis Gold SAC has been working with a metallurgist who has been reviewing each step in our Carbon-in-Pulp gold processing method. Previous metallurgy results were prepared using mineral that was milled to -200 or 75 microns in size before it was processed with cyanide solution. We prepared a cyanide-leaching test, which compared the recuperation results between -200 versus -100. The laboratory results (available as download to left) show that the ore sample “Muestra 1” (-100) recovered 4.07 mg/l of gold compared to the ore sample “Muestra 2”(-200), which recovered 4.36 mg/l of gold.
The significance of these findings confirms that the mineral does not need to be milled any finer than -100 in order to extract the majority of the gold, thereby significantly reducing wear and tear on the mill, energy cost, and ultimately the time spent milling our mineral each day. As a result the mills can crush more ore per day, which is expected to increase daily production by up to 25%.
Gold Horizons Mining Co. Ltd is currently closing out their Rights Offering. The Company will utilize the funds raised and intends 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.