Ultra Resources Inc. announced that it has commenced metallurgical testwork on bulk samples from its Gold Project in La Rioja Province, Argentina. Initial head sample assay work indicates average 13.41 grams per ton (g/t) gold (Au), 32.15 g/t silver (Ag), 0.47 percent (%) copper (Cu), 2.78% lead (Pb), and 0.96% Zinc (Zn).
Two bulk samples with a total weight of 849 kilograms were collected from Ultra Resources’ Gold Projects in La Rioja Province, Argentina. These samples were shipped to Yantai Xinhai Mining Research & Design Co., Ltd., Shandong, China (“Xinhai”) to carry out metallurgical testwork. To make it a representative sample of mineralization style on the Property, the samples were collected from multiple quartz veins (464 kg) and the historical dump material (385 kg) from each mine.
Dr. Weiguo Lang, CEO of Ultra Resources, stated that, “The results of head sample show the merits of the La Rioja gold project as a good exploration target with over approximately 63,000 hectares of licensed areas including 13 mining licenses and 3 exploration licenses. We are looking forward to the detailed metallurgical testwork report which will not only include the process flowsheet but also plant design options for various levels of production of already-on-the ground high gold grade dump materials and potential underground mineralization reported in historical exploration information. The shareholders of Ultra Resources will benefit from near-term gold production by leveraging Xinhai’s rich experience in gold processing design and research.”
About La Rioja Gold Project
The gold project in the south of the province of La Rioja, Argentina, consists of three prospecting and exploration areas and 13 manifestations of discoveries. Also, in the area there are several historical gold mines and quartz veins in granodiorite rocks hosted by early Paleozoic shearing. Gold mineralization is typically associated with epithermal style shear hosted quartz veins. Initial evaluation of dump material available for historical mines on the Property indicates approximately 25,000-30,000 tons of dump material is available for gold and other metals processing
About Yantai Xinhai Mining Group
Shandong Xinhai Mining Technology & Equipment Inc. a member of the Yantai Xinhai Mining Group is a stockholding high and new technology enterprise to provide “Turnkey Solution for Mineral Processing Plant” including design and research, machine manufacturing, equipment procurement, management service, mine operation, mine materials procurement & management as well as industry resources integration. Up to now, with 500 mine EPC projects, mining technologies and experience of 70 kinds of ores and 112 patents, Xinhai has established overseas offices with products exported to more than 90 countries.