BacTech Provides Test Work Update on Castle Mine Tailings: Financial News

BacTech Provides Test Work Update on Castle Mine Tailings
Monday November 10, 2008 10:41 am ET

TORONTO, ONTARIO--(MARKET WIRE)--Nov 10, 2008 -- BacTech Mining Corporation ("BacTech" or the "Company") (CDNX:BM.V - News) is pleased to provide a metallurgical test work update on the 500 kg sample of tailings material taken from the Castle Mine tailings deposit located in Gowganda near Cobalt, Ontario. The Castle Mine tailings are owned by BacTech's partner on the project, Gold Bullion Development Corp. (CDNX:GBB.V - News). The test work is being conducted at SGS Lakefield Metallurgical Laboratory in Lakefield, Ontario.

The objective of the metallurgical test work is to test the effects of using both gravity and flotation techniques to upgrade the tailings to produce concentrates suitable for bioleach test work. The techniques may be used individually or in combination. The initial study is focused on the use of gravity techniques, and investigations into flotation have yet to be undertaken. It should be noted that these are initial results and increased recoveries should be obtainable with more detailed investigations.

In this initial test phase, a low gravity concentration technique was trialed, with the objective of recovering coarser silver values. The use of flotation will then be investigated to acquire additional silver, together with the cobalt and nickel, which may be more directly associated with the sulphides. In addition, we achieved a high retention of the arsenic in the concentrate, which was one of the main objectives of the test work. BacTech's patented bioleaching technology is a proven and effective technology for producing a stable form of arsenic, which makes this both an environmental reclamation project and a metal recovery project. The technology is able to process concentrates with high arsenic values which would normally be considered unacceptable for conventional processing methods such as smelting or roasting.

The early results from test work of the tailings using only low gravity methods are encouraging, with higher than anticipated cobalt and arsenic values reporting to a concentrate. The recovery and assay results from initial tests, in which different percentages of feed reported to the concentrate (varying mass pull), are given below.

 

Recovery of elements to concentrate at 2% mass pull using gravity
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Ag               Co               Ni               As               S
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26.2%          47.6%            22.8%            64.1%           12.2%
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Concentrate assay at 2% mass pull
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Ag               Co               Ni               As               S
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134 oz         2.63%            0.25%            14.2%            0.2%
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Recovery of elements to concentrate at 20% mass pull using gravity
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Ag               Co               Ni               As               S
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55.2%          63.2%              40%            80.5%           28.7%
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Concentrate assay at 20% mass pull
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Ag               Co               Ni               As               S
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28.7 oz        0.36%            0.05%            1.81%           0.05%
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These results, preliminary in nature, are encouraging. Investigations are continuing in which further gravity work is planned. Flotation work will be undertaken to further increase the recovery of silver, cobalt, and nickel and results will be released when received.

It is anticipated that detailed bioleach test work on the concentrates from the Castle Mine tailings will commence in late December. Some early bioleach work has already begun at SGS Lakefield Oretest in Perth, Australia, in order to adapt the bacteria to the type of mineralogy of the Cobalt tailings.

Technical and scientific data in this news release has been verified by Dr. Paul Miller, the Company's Vice President of Technology and Engineering. Dr. Miller is a chartered engineer and a member of the Institute for Mining and Metallurgy, London, England, and is a qualified person for the purposes of National Instrument 43-101. Dr. Miller has reviewed and approved the contents of this news release.

BACTECH PROFILE

BacTech has developed and patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. BacTech has successfully commissioned three bioleach plants for gold and demonstrated its technology in the selective recovery of base metals from complex sulphide concentrates in a joint project with Industrias Penoles de C.V. of Mexico that was completed in 2001. The Company's focus is the acquisition of equity positions in projects amenable to bioleaching. The Company recently signed an agreement to acquire Yamana Gold Inc.'s 33% interest in two refractory gold deposits in Papua New Guinea.

Prospective and current shareholders are invited to join the Company's official investment forum exclusively at www.pinnacledigest.com. The forum allows for investor controlled discussion, questions, third party reports and articles, and progressive feedback from other shareholders and investors. See http://www.pinnacledigest.com/company/bm%Aca. Also, visit www.bactech.com for ongoing updates and to have your name added to our mailing list.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking statements". Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled "Risks" in the Company's Management Discussion and Analysis for the Year Ended December 31, 2007. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.

Shares outstanding 60,107,206

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