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Following the extraction of approximately 500 tonnes of mineralized rock representative of the Cerro Blanco Las Carolinas deposit (the "bulk sample"), the Company's engineering team undertook Stage 1 with the assistance of technical consultants Centro de Investigacion Minera y Metalurgica Tecnologia y Servicios, Cytec Chile Limitada and AMEC-Cade. The objective of the program was to produce a high grade titanium concentrate from small quantities of the bulk sample, using a conventional metallurgical flow sheet comprised of gravity pre-concentration followed by flotation.
Stage 1 succeeded in producing a high grade rutile concentrate even without high intensity magnetic separation. Process recovery was over 92% and concentrate grade, over 94% TiO2. This result was obtained using normal water, at a neutral pH (acidity). Tests with sea water returned equally good product grades, but the process recoveries were lower. Test work on the use of sea water as the aqueous medium in flotation is on-going.
Upon completing Stage 1, the Company engaged SGS Lakefield to conduct locked cycle tests on 250 kg of the bulk sample, the results of which will be used to set the final design parameters for Stage 2 of the pilot plant program. Stage 2 will then campaign the balance of the bulk sample through a pilot plant at a rate of 1,000 kg per hour with the objective of simulating a full size operation. The results from Stage 2 will provide essential information for the final engineering and feasibility assessment of the project.
In other developments, following the recent Intertech TiO2 conference held in Rome in March 2009, the Company's Marketing Consultant, Mr. David Rochester, has advised management that "The consensus view held by most titanium industry experts is that the combination of firm demand together with limited new supply of high quality titanium ores such as natural and synthetic rutile will result in ore prices continuing to firm. This is a significant reversal to the view held 5 years ago that largely as a consequence of increasing quantities of chloride slag from several new Southern African producers, titanium ores would be in oversupply and that ore prices would weaken. Over the last 5 years, chloride slag has grown at a slower rate, several new projects have been cancelled or deferred and existing operations, rationalised. In contrast titanium pigment production has grown steadily and metal manufacture has taken off, leading to a tightening market for titanium ores and rising prices. For example, one major ore producer indicated that for 2009 they expect their average price for rutile to increase by in excess of 6% to US$ 525-550 per tonne."
Mr. Rochester concluded that "Against a background of the previously cited operational considerations as well as increasing energy and environmental treatment costs, titanium pigment producers are now demanding and paying premium prices for high quality ores, particularly those with a high concentration of TiO2 and low levels of radioactivity. From a market perspective, White Mountain is very well placed both in terms of timing and product quality to capitalize on these trends by focusing on producing a high grade rutile product with low radioactivity and advancing the project as quickly as possible to final feasibility."
"I am delighted with the Stage 1 results and trends in the titanium industry, both of which lend support to White Mountain continuing to advance the Cerro Blanco project towards final feasibility," said Michael Kurtanjek, the Company's President and CEO. "At a time when many commodity producers are facing contracting volumes and falling prices, I am particularly encouraged by the report of firming prices and limited new supply of high quality ores in the titanium industry."
About White Mountain Titanium Corporation
The Company holds mining concessions on the Cerro Blanco property currently consisting of 33 registered mining exploitation concessions and five mining exploration concessions in the process of being constituted, over approximately 8,225 hectares located approximately 39 kilometres west of the City of Vallenar in the Atacama, or Region III, geographic region of northern Chile. The Company's principal objectives are to advance the Cerro Blanco project towards a final engineering feasibility, and to secure off-take contracts for the planned rutile concentrate output. It would be the intention to sell the rutile concentrate to titanium metal and pigment producers. Work also continues to investigate the commercial viability of producing a feldspar co-product. The feldspar could find applications in the glass and ceramics industries.
The OTC BB has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in our press releases and on our website, such as 'reserves,' 'resources,' 'geologic resources,' 'proven,' 'probable,' 'measured,' 'indicated,' and 'inferred,' that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our annual report on Form 10K for the year ended December 31, 2007, File No. 333-129347, and in subsequent filings with the SEC. You can review and obtain copies of our filings from the SEC's website at http://www.sec.gov/edgar.shtml.
Contact:
White Mountain Titanium Corporation
Michael Kurtanjek, President
(56) 2 231-5780
Brian Flower, Chairman
(604) 408-2333
SOURCE White Mountain Titanium Corporation
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