ECU Silver Reports on Gold and Silver Operations for February 2010
posted on
Mar 29, 2010 11:40AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
TORONTO, ONTARIO – March 25, 2010 – ECU Silver Mining Inc. (TSX: ECU)
ECU Silver Mining Inc. is pleased to report on its silver and gold fabrication for the month ending February 2010.
Highlights include:
29,961 ounces of silver.
502 ounces of gold, plus 162 ounces of gold in pyrite concentrate which was added to
the pyrite inventory.
65,101 ounces of silver equivalent, using a silver-to-gold ratio of 70 to one (base metals
not included as equivalents).
Average daily throughput at the oxide mill of approximately 640 tonnes per day (“tpd”).
Gold and silver generated in February was very good, particularly when considering that
February is a shorter month. During February, we continued our testing to better understand the metallurgy which resulted in subsequent adjustments to enhance our recoveries of gold and silver. To help us accomplish our objective of maximizing recoveries in a timely manner, we hired outside consultants with particular expertise in this area. The result of our work identified thatthe metallurgy of the gold-rich tailings, which was supplementing the feed into the Oxide Mill, had changed sufficiently over time, and was negatively impacting the performance of the processing circuit. Consequently, on March 4th, we stopped adding tailings material to the Oxide Mill. Within one week, the quantity of gold and silver recovered increased by 30%, despite the fact that we fed less gold and silver into the Oxide Mill. We expect that up to another 10% of the gold can be recovered through minor modifications of the Merrill-Crowe system in the Oxide Mill.
For February, the amount of silver equivalent generated (see Table 1) was 65,101 ounces,
approximately 6% less than January. (Please note that January results are restated, see
explanation and Table 2 below). A total of 502 ounces of gold was generated in February, 32
ounces (7%) greater than the previous month and 29,961 ounces of silver was generated in
February, which was 6,590 ounces (18%) lower than in January. An additional 12,246 silver
equivalent ounces was generated in pyrite concentrate and added to our pyrite concentrate
inventory for later treatment.
ECU SILVER MINING INC.
87 Front Street East, 2nd Floor,
Toronto, Ontario, M5E 1B8
PH: (416) 366-2428
FX: (416) 366-8131
www.ecu.ca
Table 1: February 2010
(ounces) Oxide Mill Sulphide Mill Total
Gold 491 11 502
Silver 19,365 10,596 29,961
Silver Equivalent (70:1) 53,735 13,985 65,101
In Pyrite Concentrate (sent to inventory)
Gold - 162 162
Silver - 906 906
Silver Equivalent (70:1) - 12,246 12,246
January results reported on February 18, 2010 inadvertently included a partial lot from early
February. Table 2 below shows the actual January 2010 results. A total of 69,451 silver
equivalent ounces was generated in January plus an additional 10,655 silver equivalent ounces,
from the February lot, was reported on February 18, 2010.
Table 2: January 2010 (restated)
(ounces) Oxide Mill Sulphide Mill Total
Gold 446 24 470
Silver 24,246 12,305 36,551
Silver Equivalent (70:1) 55,466 13,985 69,451
In Pyrite Concentrate (sent to inventory)
Gold - 220 220
Silver - 1,820 1,820
Silver Equivalent (70:1) - 17,220 17,220
The Company plans, after the first quarter 2010, to report results of its milling operations on a quarterly basis, rather than a monthly basis.