Metallurgical Test Program Achieves 82% Vanadium Extraction
The Company is pleased to announce that the ongoing metallurgical flow sheet development program has progressed well, with scoping test work nearing completion at three metallurgical laboratories (in Canada and Johannesburg). Of note, alkaline pressure leach testing at SGS Lakefield has determined that soda ash can be used to extract 82% vanadium into a leach solution low in contaminants. Ongoing work is aimed at optimizing reagent consumption and leach temperature and is expected to be completed in October 2010.
Julie Lee Harrs, President and COO, said, “We are very excited by these developments in metallurgical performance and are looking forward to reporting the remaining results shortly."
Highlights of the Remaining Assay Results
- 0.875% V2O5 over 60 metres, including 0.939 % V2O5 over 21 metres (Hole M91a)
- 0.846% V2O5 over 72.1 metres, including 0.912 % V2O5 over 42 metres (Hole M-89)
- 0.688% V2O5 over 22.5 metres, including 0.823 % V2O5 over 7.5 metres; and 0.64% V2O5 over 43.5 metres, including 0.731 % V2O5 over 24 metres (Hole M-88)
- 0.58% V2O5 over 97.5 metres, including 0.714 % V2O5 over 39 metres (Hole K-07)
- 0.588% V2O5 over 58.5 metres, including 0.61% V2O5 over 40.5 metres (Hole K-05)
A complete summary table of all of the assay results from the 2010 drill program follows at the end of this press release. With these assay results, the Company has now received all results for the 46 diamond drill holes (totalling 8,952 metres) completed during the 2010 drill program.
Updated NI 43-101 Resource Estimate Expected October 2010
Based on these results, the Company is confident that it has exceeded its exploration target to delineate additional mineral resources in the range of 25 to 30 million tonnes of V2O5, which will increase its previously reported indicated resource estimate of 21.74 million tonnes of V2O5 at a grade of 0.759% and inferred resource estimate of 4.15 million tonnes of V2O5 at a grade of 0.655%. An updated National Instrument 43-101 compliant resource estimate is expected in October 2010.
Craig Scherba, P.Geol., is the qualified person for the geological information provided in this release. Andy Holloway, P.Eng., Principal Process Engineer of AGP Mining Consultants Inc. (formerly PEG Mining Consultants), is responsible for oversight of the metallurgical program currently underway.
Summary of drill hole assays for 2010 drill program:
|Hole ID||V2O5 Grade||From (m)||To (m)||Interval (m)||V2O5||From (m)||To (m)||Interval (m)|
For more information, please visit our website at www.energizerresources.com
Vice President - Business Development
Energizer Resources Inc.
Toll Free: 800.818.5442 or 416.364.4911
Julie Lee Harrs, President and COO
Forward-looking statements include, receipt of regulatory approval, statements on the proposed use of proceeds; completion of financing on terms proposed; the ability to raise additional funds as required; the development potential and timetable of the Company’s properties and minerals; the current and future price of minerals the Company explores; the estimated size of mineral deposits on the Company’s properties; the realization of those mineral deposit estimates; the timing and amount of estimated future exploration, development and production; costs of future exploration, development and production activities; success of exploration activities; government regulatory matters; discussion of political and environmental risks.
Forward-looking statements are based on the opinions and estimates of management of the Company. Forward-looking statements are subject to known and unknown risks that may cause actual results to be materially different from stated opinions and estimates of management. Some of the Company’s more material risks are: availability and timing of external financing; unexpected events and delays during exploration; receipt of government and stock exchange approvals; results of current exploration activities; future price of minerals; political risks in the locations of the Company’s properties; appreciation/depreciation of foreign currencies relative to the United States Dollar (the Company’s functional currency) and other risks inherent in the mining and exploration industry.
While Company’s management has attempted to determine the factors that could cause actual results to differ materially from estimated results contained in forward-looking statements, there may be other factors that cause results not to be as anticipated. The Company provides no assurance that such forward-looking statements will prove accurate or not materially different than projected. Therefore readers of this and other press releases issued by the Company should not place unreasonable reliance on stated forward-looking statements.
This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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