This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Pan American Goldfields Ltd. Reports On Results Of Metallurgical Testing And Updated Mineral Resource, Cieneguita Project, Mexico

VANCOUVER, British Columbia, March 14, 2013 /PRNewswire/ --

Pan American Goldfields Ltd. (OTCQB: "MXOM") (the "Company") is pleased to report the results of a comprehensive metallurgical testing  program performed on samples from its 80% owned Cieneguita project, Chihuahua, Mexico. In addition, the Company also wishes to report the results of an updated mineral resource estimate incorporating the results of the metallurgical testing along with estimated mine and plant operating costs. The Cieneguita project is currently being operated on a pilot basis under an agreement between the Company and Minera Rio Tinto ("MRT"), a private Mexican company, with the Company receiving 35% of net cash flows until December 31 st 2013. Further pilot production is contemplated into 2014 concurrent with the preparation of a planned definitive feasibility study examining a full scale commercial operation.

METALLURGICAL TESTING

A total of approximately 1,850 kgs. of metallurgical samples were collected from the Cieneguita site from 22 separate core holes. The holes and intervals selected all come from the predominant mineralized host rock type (altered diatreme breccia) and covered the extent of the deposit both in area and at depth. All samples were un-oxidized and contained about 4% total sulfur. The samples were composited into three samples based on gold and silver grades (Low Grade, Medium Grade and High Grade) with each composite weighing about 600 kgs. All of the metallurgical testing has been performed at Resource Development Inc. ("RDi") of Wheat Ridge, Colorado under the supervision of Dr. Deepak Malhotra.

Head assays of the three composite samples are as follows:


                                                                 High Grade
           Low Grade ("LG") Comp.  Medium Grade ("MG") Comp.    ("HG") Comp.
    Au g/t         0.226                     0.535                 2.798
    Ag g/t          34.6                     47.1                   72.8
    Pb %            0.37                     0.24                   0.38
    Zn %            0.63                     0.36                   0.44

The primary metals of economic interest are gold and silver, and the metallurgical testing program was focused on maximizing the recovery of these two precious metals. Testing was performed on all three composites to understand how the metallurgical results might change with varying grades.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,940.34 -20.23 -0.12%
S&P 500 1,974.19 -4.15 -0.21%
NASDAQ 4,432.7280 -16.8360 -0.38%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs