TORONTO, ONTARIO, Feb 06, 2014 (Menafn – Marketwired via COMTEX) –Excalibur Resources Ltd. (“Excalibur” or the “Company”) (cse:XBR)(otcqx:EXCFF)(frankfurt:X9CN) provides an update on theprogress at its 49% (60% pending completion of deal with MineraApolo) owned subsidiary Minera Catanava de C.V. The concentratetesting work, including assay results from a commercial lab, hasshown that we can produce a very good grade concentrate of between300 and 500 grams of gold per ton and around 1 to 2 kilograms silverper ton. Two samples of 400 grams of concentrates were sent for fireanalysis and plasma induction of 33 elements which were assayed atERSA Global Labs of Torreon, Coahuila, Mexico. The silver, as well asthe gold recuperation, will increase when flotation cells areinstalled which is planned for later this year. “Given theanticipated amount and logistics of producing concentrates, it ispreferable to pour dore, so a large tilt and pour dore furnace hasbeen ordered,” commented, Dr. Don McLeroy.
Mining development has advanced over 800 meters in 8 adits and thecurrent focus is on the Natas and Penitas veins. The Company is inthe process of developing a flexible mine plan combining the mostoptimum feed from the various underground mines. The Companycontinues its efforts to optimize mining methods in terms of minedilution in order to improve margins per tonne.
The Company is pleased to announce that Mr. Candelario Ramirez washired as Plant Manager, replacing Mr. Jose Luis Vigil who resigned inDecember. The Company thanks Mr. Vigil for his contributions during2013. The Company has reduced its corporate and investor relationsexpenditures and moved its head office in order to reduce overhead asmuch as possible in the current environment. The remaining 3.8million warrants outstanding exercisable at 0.20 are due to expireon February 24, 2014.
Excalibur Resources Ltd. is a junior exploration mining companyfocused on the discovery, development and mining of economicallyviable precious metal mineral resources.
On behalf of the Board of Directors:
Tim Gallagher, Chairman & CEO
Neither the Canadian Securities Exchange nor its Regulation ServicesProvider accepts responsibility for the adequacy or accuracy of thisrelease.
SOURCE: Excalibur Resources Ltd.