Blaine, WA: Tamerlane Ventures Inc. (TAM: TSX-V) is pleased to announce its plans to mine and process a large bulk sample from the Pine Point lead-zinc property. The feasibility work completed on the Pine Point project to date has indicated that the resources should be developed as an underground mining operation. Drilling results from the 2005 exploration program have focused the Company’s attention on the R-190 deposit. The R-190 deposit is located approximately 48 kilometers east of Hay River, NT.
Assay results from the high-grade deposit range from 5% to 52% combined lead and zinc. The historical resource on the R-190 deposit is estimated at 1,014,000 million tonnes with a combined Pb-Zn grade of 18.4%. Tamerlane plans to use dense media separation (DMS) technology to upgrade the ore prior to shipping it for smelting.
The Company plans to access the underground by shaft and mine by stoping and drift and fill utilizing vertical conveyor and freezing technology. Both freezing and vertical conveyance have been successfully used in industry throughout North America. Prior to implementing this technology for all 34 known deposits on the property, the Company has chosen to test the technology on the R-190 deposit.
Initial development and infrastructure installation is anticipated to take 10-12 months before initial production. The Company expects to commence work at the site as soon as the permitting process is complete, which is expected to be late 2006. The Company plans to operate a 2,800 tpd test mine, which will allow for the extraction of approximately 1,000,000 tonnes combined lead and zinc within one year. It is anticipated that the first concentrates will be produced by late 2007. If the underground freeze ring technology is successful, it is anticipated that work will start immediately on plans to implement the technology to the other 33 deposits at Pine Point. The total duration of the pilot project is expected to be 2 years. It is expected that 55,500 tonnes of recovered lead and 110,000 tonnes of recovered zinc will be produced from this project.
Commenting on the project, Ross Burns stated: “The technology developments that have taken place in underground mining over the past 20 years since the Pine Point operation shut down in the late 1980s has been extensive. Underground mining utilizing freeze ring technology will eliminate all the pumping problems and water inflow problems that occurred during past open pit mining by Pine Point Mines Limited. This pilot project will lead the way for exploitation of the remaining 70 million tonnes of resources.”
“Ross F. Burns”
President & CEO
For further information, please contact:
Tom Thomsen, Investor Relations Consultant
Graham Eacott, Vice President, Investor Relations
Phone: (360) 332-4653
Fax: (360) 332-4652
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and as amended in Section 27E of the 1934 Act.