30,733,043 SHARES ISSUED
MILLSTREAM ADVANCES TO PROTOTYPE METAL
Millstream Mines Ltd. announced today that it is preparing a
pre-feasibility and design study for the construction of a prototype processing
plant capable of treating 100 plus tons per day of its Potter Mines' tailings
materials (waste dump). This step forward has been prompted by the encouraging
results of testing on the possibility of extracting some of the metals (copper,
zinc, cobalt, and magnesium) contained in the tailings produced during the
operation of the Potter Mine. The Potter Mine property is located in Munro Township,
Matheson area, northeast Ontario, Canada.
The plant will be built in a modular format that will
allow for an orderly expansion of processing capabilities. Previous drilling,
sampling and assaying of the tailings confirmed a calculated average grade of
3.5% magnesium, 0.2% copper, 1.5% zinc and 0.05% cobalt contained within
480,000 tons of tailings (P.R. February 7 and June 22,2000). Based on current
market prices for magnesium at US$1.80/lb, copper at US$0.65/lb, zinc at
US$0.40/lb and cobalt at US$12.25/lb the in-situ metal value equates to
CDN$114,454,000 using a 1.56 CDN/US$ conversion factor.
The In-Situ Pilot Test Program (P.R. April 3 and June 28,
2001) in conjunction with Simulated In-Situ tests have confirmed the
Electro-Chemical Quik Leach and proprietary Membrane technologies are an
applicable process in achieving viable commercial production levels of metal
recovery.
The Electro-Chemical Quik Leach technology (patented) owned
by Enpar Technologies of Guelph, Ontario, enhances the leaching rate of
sulphide materials and the Membrane (proprietary) technology concentrates the
leached metal ions enriching the leached solution (pregnant solution).
Millstream, further wishes to announce and remind the
interested public of its web site location, WWW.MILLSTREAMMINES.COM, which also
contains the above referenced press releases.
The principle objective of Millstream Mines Ltd. is to
enhance and develop known mineral properties to production potential.
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For further
information contact:
Mr. Ernest Harrison, EM, CEO Phone: 705-474-7282
Mr. Marty Martinello, B.A., V.P. Fax: 705-474-5491
Mr. Robert Chase, B.A. Phone: 416-368-9595
Fax:
416-368-0584
Email: mlsm@passport.ca
No regulatory authority or similar body approved nor disapproved
the information contained herein.