Last C$0.57 CAD
Change Today +0.03 / 5.56%
Volume 26.5K
As of 3:09 PM 05/24/13 All times are local (Market data is delayed by at least 15 minutes).

goldrock mines corp (GRM) Snapshot

Open
C$0.55
Previous Close
C$0.54
Day High
C$0.57
Day Low
C$0.55
52 Week High
01/9/13 - C$0.91
52 Week Low
05/31/12 - C$0.41
Market Cap
37.3M
Average Volume 10 Days
44.4K
EPS TTM
C$-0.05
Shares Outstanding
65.5M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for GOLDROCK MINES CORP (GRM)

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goldrock mines corp (GRM) Details

Goldrock Mines Corp. operates as a mining development and exploration company in Argentina. The company owns a 100% interest in the Lindero project located in Salta province, northwestern Argentina. It focuses on the development of Lindero gold deposit; and the exploration of the Arizaro gold-copper porphyry prospect. The company was formerly known as Mansfield Minerals Inc. and changed its name to Goldrock Mines Corp. in January 2013. Goldrock Mines Corp. was founded in 1975 and is headquartered in Vancouver, Canada.

Founded in 1975

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goldrock mines corp (GRM) Key Developments

Goldrock Mines Corp. Receives Initial Metallurgical Test Work Results for the Arizaro Project

Goldrock Mines Corp. announced that it has received initial metallurgical test work results for the Arizaro project. Arizaro is a gold-copper porphyry discovery located 3 km southeast of Goldrock's 100% owned and fully permitted developmental stage Lindero gold deposit. With the view to potential y utilizing the Lindero heap leach processing facility, preliminary metallurgical testing was conducted to start profiling leaching behavior of the typical Arizaro medium to high grade mineralization. This metallurgical test work was undertaken by Kappes, Cassiday and Associates in Reno, Nevada. Four cyanide bottle roll test results were conducted on both fresh and oxide mineralization and show very favorable coarse fraction gold recoveries of between 64% and 73%. These recoveries are in a range typical of the early bottle roll test work for the Lindero deposit, and provide a preliminary indication that the Arizaro mineralization is amenable to heap leach gold extraction. Diamond drill core samples were crushed to 80% passing 9.5 mm mesh, which is the nominal ore crush size for the designed crushing circuit at Lindero. The composites were prepared to produce representative samples of medium and high gold grades for oxide (weathered) and fresh (non-weathered material) portions of the Arizaro mineralization. Cyanide bottle roll metallurgical tests were then run on the sample composites at 1000 ppm cyanide concentrations for more than 50 days at a pH of 10.5. Gold analyses of each particle size fraction from the bottle roll tails indicates that there is good leaching in the coarser fractions. The relationship between crush size and recovery will be tested in further more detailed test work programs. Cyanide and lime consumptions for the bottle rolls were comparable to those from Lindero, which are well within the average range of reagent consumptions for a heap leaching project. The company is now working towards the release of a maiden NI 43-101 technical report for the Arizaro project in the second quarter of 2013, as well as a commencing detailed metallurgical test work, including heap leach column test work and detailed mineralogical analyses of the Arizaro mineralization. The Arizaro porphyry body was identified prior to the discovery of the Lindero gold deposit in 1999. The Arizaro porphyry system, as defined by drilling, surface sampling and mapped alteration covers a 600 metre by 500 metre surface area. Gold-copper mineralization occurs from surface to a true vertical depth of 300 metres and remains open for expansion in al directions. The Company initially tested the discovery with 16 diamond drill holes, al of which had significant mineralized intercepts with numerous thick sections greater than 100 meters with grades greater than 0.30 g/t gold and 0.15% copper, and with one hole returning 48 meters of 1.38 g/t gold and 0.36% copper.

Goldrock Mines Corp. Announces Results of Positive Feasibility Study

Goldrock Mines Corp. announced the results of a positive Feasibility Study by Kappes, Cassiday & Associates ('KCA'), Mine Development Associates ('MDA') and AMEC Americas Limited ('AMEC') to develop its 100% owned and permitted Lindero gold deposit in the Salta province, Argentina the "Lindero Project"). The economic assessment for the Feasibility Study estimates the project will produce an average of 109,000 ounces of gold per annum for the first 9 years of the mine life with a total life of mine production of 1.037 million ounces. The mine development has been planned as an open-pit mine with conventional haul trucks, hydraulic shovels, and front-end loading equipment. The mine starter Phase 1 and 2 pits, which have low material movement requirements (stripping ratio of just 0.48:1) will be mined by a contractor, while owner mining equipment will be used for pit Phases 3 and 4. The changeover to owner mining equipment is planned for year 3. Drilling and blasting will be undertaken by the owner through the life of mine to minimize risks to ore quality and mining contractor performance. The life of mine stripping ratio is 1.79:1. Ore will be trucked to a three stage crushing facility near the mine where it will be crushed to 80% minus 9mm and then conveyed to the heap leach pad. Waste rock from the mine will be sent to a single dump located adjacent to the pit. The current production schedule uses a 0.35 g Au/t cut-off grade to define ore, which is higher than the economic break-even cut-off grade. Mineralized waste is defined as Measured and Indicated resources above the economic cut-off and the reserve 0.35 g Au/t cut-off. The mineralized waste is to be stockpiled on top of the waste dump with easy access for re-handle to the crusher. This material includes about 16.7 million tonnes at 0.30 g Au/t or 162,000 contained ounces of gold and this material could potentially be processed at a profit at the end of the mine life. The conventional heap leach facility for the Lindero Project is designed for a nominal production rate of 6,750,000 metric tones (Mt) per year (18,750 Mt per day) with a total heap capacity of approximately 68 Mt at a nominal crush size of 80% passing -9 mm. The ore will be fine-crushed using three-stage crushing with a circuit consisting of a primary jaw crusher, secondary cone crushers and an HPGR crusher. It will then be conveyor-stacked on the leach pad in 10 m lifts. 250 ppm sodium cyanide solution will be irrigated over the stacked material, via buried drip emitters at 10 L/m(2) /h during a 150 day leach cycle. - 75 days open circuit, 75 days recycled leach solution (during the first three years of the operation).

Goldrock Mines Corp. Appoints Bassam Moubarak as Chief Financial Officer

Goldrock Mines Corp. announced the appointment of Bassam Moubarak to the position of Chief Financial Officer. Mr. Moubarak is expertise in corporate finance, corporate reporting, financial processes, financing and risk management. Mr. Moubarak has held senior management positions for mining companies including Petaquilla Minerals Ltd. He also played a key role in the sale of Petaquilla Copper Ltd. Mr. Moubarak has previously held the position of Senior Manager with the public accounting firm of Deloitte & Touche LLP., where he led audits of public companies and oversaw SOX 404 implementations with specific emphasis on the mining industry.

 

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