White Mountain Progress Report for the Cerro Blanco Titanium Project
SANTIAGO, Chile, March 1, 2011 /PRNewswire/ -- White Mountain Titanium Corporation ("White Mountain" or the "Company") (OTC Bulletin Board: WMTM) reports that it has received an interim environmental report from Arcadis Geotecnica ("Arcadis"), its environmental consultant, which incorporates data from the spring and summer baseline environmental monitoring field work as well as possible implications for flora, fauna and human habitation resident within or adjacent to the Cerro Blanco project (the "Project") area resulting from development of the Project.
The interim report also includes a detailed list of all future permits which, under the Chilean Mining Code, will be required prior to commencing development of the Project. Arcadis is working with White Mountain management to integrate provision for these permits into the Project development timeline. Arcadis expects to deliver a final environmental report to the Company, incorporating Project monitoring data for the autumn and winter seasons, by the end of June, 2011.
The Company also reports that in-fill drilling at the Las Carolinas prospect is progressing well with over half the projected 7,500 meter drill program completed. The objective this program is to move a sufficient amount of the current resource into the measured and indicated categories in order to sustain a mining and processing operation for 20 years. Drilling, mineral analyses, core logging and preliminary geological modelling at Las Carolinas are expected to be completed by the end of April, 2011.
White Mountain continues to receive requests for all three grades of its proposed rutile concentrates from potential customers, both for pigment and metal applications. Further news relating to customer feedback, letters of intent and definitive off-take agreements will be released in due course.
Unseasonably cold weather has delayed the feldspar process design test work currently underway at SGS Lakefield by approximately 2 – 3 weeks. Fifteen of the planned 100 tests have been completed with the balance expected to be completed by mid-April, 2011. The objective of this test work program is to produce a high grade sodium feldspar concentrate from rutile tailings and the focus of the test work is to increase sodium content to plus 10% and to reduce iron content to less than 0.1%. If this test work is successful, sodium feldspar concentrate from the Project would be marketed to glass and ceramics producers, principally in the Asia Pacific region.
"The pace of work at the Cerro Blanco project continues to gain momentum", said Michael Kurtanjek, the Company's President and CEO. "The baseline environmental monitoring field work carried out by Arcadis so far has been very encouraging and the schedule of permits gives us a clear understanding of the permitting and regulatory requirements to develop the Project. We continue to receive strong interest for all three grades of our proposed rutile concentrates, this interest coming at a time in the market when the supply – demand balance for titanium dioxide feedstock strongly favors suppliers."
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.
White Mountain Titanium Corporation
Michael Kurtanjek, President
(56) 2 657-1800
Brian Flower, Chairman
SOURCE White Mountain Titanium Corporation
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