BacTech Receives Results From Quinto Miningadmin
BacTech Mining Corporation announced today that it has received, from Quinto Mining Corp. (“Quinto Mining”), recent sample results from a program conducted on the Godbout “B” uranium property (the “B” Property”) located near Baie-Comeau, Quebec. The “B” Property is one of two claim groups optioned by BacTech subject to a joint venture with Quinto Mining, as previously announced in a press release dated January 26, 2007.
The “B” Property contains pink granitic pegmatite dyke, exposed over a distance of 50 meters, and contains high local radioactivity. Historical work conducted on the property in 1969 by Mr. Phil Boudrias consisted of selective grab sampling from fracture zones within the pegmatite dyke returned an assay result of 7.9% U3O8. The location of the sample has not been precisely determined and there are no details concerning the analytical methods that were used by the Quebec Department of Mines Laboratory at the time. This is historical data and should not be relied upon.
Quinto Mining began its program of limited prospecting and sampling in late 2006 as follow up to the historical assay. The current sampling conducted on the property consisted of a total of 4 samples being taken which were then analyzed by ALS Chemex of Vancouver, B.C., using the ICP-61a method and consisted of a 4 acid digest followed by an inductively coupled plasma spectroscopy. The best result obtained was from a chip sample on the main anomaly which returned a spot value of 4,860 ppm U (11.47lbs/ton U3O8) and 1,050 ppm Th (2.39 lbs/ton ThO2) over 10 cm. The Godbout “B” uranium property is still in the very early stages of exploration and will be the subject of further exploration in the spring.
BacTech is currently focusing its exploration efforts on the Godbout “A” group of claims. A drill program is currently being planned and is anticipated to commence at the close of the recently announced $500,000 flow-through financing.
The “B” Property sampling program is supervised by Mr. Etienne Forbes, P. Geo., of Exploration Esbec of Sept Isles, Quebec, who is a Qualified Person (QP) as defined under NI 43-101.
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. Recently, the Company expanded its focus through the establishment of a uranium Joint Venture with Quinto Mining Corporation in Quebec.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to the Corporation, 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, 2005. Circumstances or management’s estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.
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Ross Orr BacTech Mining Corporation President & CEO
(416) 813-0303 ext 222
Pierre Anglos Investor Relations 1-800-436-2027
Source: BacTech Mining Corporation