Moon River Moly Announces Positive Results from Ore-Sorting Study on Endako Mine Complex Mineralized Material
Moon River Moly Announces Positive Results
from Ore-Sorting Study on Endako Mine
Complex Mineralized Material
Toronto, Ontario--(Newsfile Corp. - May 21, 2025) -
Moon River Moly Ltd.
(TSXV: MOO) (OTCQB:
MRIVF)
("
Moon River
" or the "
Company
") is pleased to announce that the initial results from a recently
completed study by ore sorting supplier Ganzhou HPY Technology Co. Ltd. ("
HPY
"), indicated that the
mineralized material at the Endako Mine Complex in central British Columbia may be amenable to ore
particle sorting and the incorporation of ore sorting
could significantly improve the overall feed grade to
the processing plant.
Moon River is the holder of a 25% participating interest in the Endako Mine Complex pursuant to an
exploration, development and mine operating agreement dated as of June 12, 1997 (the "JVA") with
Thompson Creek Metals Company Inc. ("
TCM
"), a subsidiary of Centerra Gold Inc. ("Centerra"). TCM
holds the other 75% participating interest and is the manager of the Endako Mine Complex.
Ore Sorting
Ore sorting is a process that separates economically valuable rock from non-valuable rock. It uses a
mineral pre-concentration technology that employs sensors to identify and separate ore particles based
on their physical or chemical properties, ultimately improving the grade of the ore feed to processing
plants.
The benefits of ore sorting include improved feed grade to the processing plant, reduced
processing costs, increased efficiency and reduced environmental impacts. Sensor-based ore sorting
has been used in the mining industry since the 1970s, but recent technological advances in sorting
technology have greatly improved its effectiveness.
Traditional XRT ore sorting technology uses sensors to analyze the X-ray attenuation characteristics of
minerals, which are associated with their atomic composition and mass density.
Additionally, HPY has
also developed a Photon Series Sensor system which utilizes technology capable of directly detecting
elemental composition within the ore.
This advanced capability enables more precise identification of
target minerals, significantly improving ore enrichment and detection accuracy.
The XRT X-Ray sorting technology results from the HPY study on a 50-kg sample from the Endako Mine
indicate approximately 88.6% metal retention and approximately a 40% rejection rate (waste).
The table
below shows the initial HPY results for the XRT sorting test work.
Ore category
Yield%
Mo Grade%
Mo Metal
Distribution Rate %
Hi grade Ore
60.28
0.04
88.61
Medium-high grade ore
10.28
0.02
7.56
Medium grade ore
1.87
0.01
0.69
Medium-low grade ore
2.8
0.004
0.41
Low grade ore
24.77
0.003
2.73
Raw Ore
100.00
0.027
100.00
HPY's new Photon Series Sensor imaging technology sorting test work indicated approximately 80.7%
metal retention and a rejection rate of approximately 79.4%.
The following table shows the results for this
test work.
Ore category
Yield%
Mo Grade%
Mo Metal
Distribution Rate %
Hi grade Ore
20.62
0.12
80.70
Medium-high grade ore
27.84
0.009
8.17
Medium grade ore
25.26
0.007
5.77
Medium-low grade ore
16.49
0.007
3.76
Low grade ore
9.79
0.005
1.60
Raw Ore
100.00
0.031
100.00
The trials conducted earlier this year were commissioned and funded by Moon River.
"The results from this study by HPY are very encouraging and could be significant for the Endako Mine
Complex," stated Paul Parisotto, President and Chief Executive Officer of Moon River. "We intend to
conduct more detailed studies to further examine the feasibility of ore particle sorting at Endako."
The Endako Mine Complex is an open-pit molybdenum mine, concentrator, and roaster, located
approximately 160 kilometres west of Prince George, British Columbia. The Endako Mine Complex
consists of three open pits which were amalgamated as part of a mine and mill expansion completed in
June 2012. The processing facilities, which were upgraded and augmented, include a 55,000 ton
(50,000 tonnes) per day concentrator, a 35,000 - 40,000 pounds per day capacity molybdenum roaster
(and an additional non-operating roaster), tailings and reclaim water ponds, a crushing plant, waste rock
dumps, an administrative building, a truck shop/warehouse, a change house, a first aid station, a
laboratory, a garage and other shops. The power supply of the site is provided by a nine-kilometre, 69
kV power line owned by B.C. Hydro from a nearby substation. Water for the milling process is re-
circulated from the tailings facility while make-up water is pumped from nearby François Lake.
Operations at the Endako Mine Complex began in 1965 and were suspended in December 2014 as a
result of market conditions and the Endako Mine Complex has been held on a care and maintenance
basis since July 2015.
About HPY
HPY is a China based company that specializes in developing and manufacturing ore sorting machines.
Established in 2015, it has over 400 sorting machines in use at over 70 mining locations. It holds over 70
patents that relate to ore sorting and has an approximately 80% market share in China.
HPY is ISO 9001
and ISO 14001 certified.
Next Steps
Moon River expects to continue ore sorting investigations with a planned 2-5 tonne bulk sample
collected from the Endako Mine Complex for confirmatory analysis this summer. In addition, samples
from the Davidson deposit are also being tested for amenability to ore particle sorting and possible feed
grade improvement.
Qualified Person
The scientific and technical content of this news release was reviewed, verified, and approved by Mr.
Brian LeBlanc, P. Eng., President of A-Z Mining Professionals Ltd., an Independent Consultant to the
Company and a "Qualified Person" ("
QP
") as defined by National Instrument 43-101 - Standards of
Disclosure for Mineral Projects.
Mr. LeBlanc is the QP responsible for the scientific and technical
information contained in this press release.
About Moon River
Moon River is a Canadian-based resource company focused on the acquisition, exploration and
development of mineral projects.
Moon River is focused on the development of the Davidson Property
which hosts a large molybdenum-tungsten deposit and is located near Smithers, British Columbia. The
Company also holds 25% of one of the largest molybdenum mines in North America, the Endako Mine
Complex which is located in British Columbia.
For further information, please contact:
Paul Parisotto, President, Chief Executive Officer and Director, at (416) 800-1753 or
.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements:
This press release contains forward-looking statements and forward-looking information (collectively,
"
forward-looking statements
") within the meaning of applicable securities laws.
Any statements that
are contained in this press release that are not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements are often identified by terms such as "may",
"should", "anticipate", "will", "estimates", "believes", "intends", "expects", "plans" and similar
expressions, which are intended to identify forward-looking statements.
These forward-looking statements reflect the current views of the Company, represent the expectations
of the Company as of the date of this news release, and are based on certain assumptions that the
Company has made in respect thereof as at the date of this press release.
Although the Company believes the expectations and material factors and assumptions reflected in
these forward-looking statements are reasonable as of the date hereof, there can be no assurance that
the further testing on ore sorting will continue to be positive for suitability and possible grade
improvement nor that ore sorting will be incorporated into future plans, nor that the expected benefits of
ore sorting will prove to be correct. The forward-looking statements are not guarantees of future
performance and are subject to a number of known and unknown risks and uncertainties including risks
detailed in the Company's continuous disclosure, which are available on SEDAR+ at
www.sedarplus.ca
.
Accordingly, readers should not place undue reliance on the forward-looking statements contained in this
press release.
These risk factors should not be construed as exhaustive. Readers are cautioned that events or
circumstances could cause results to differ materially from those predicted, forecasted or projected. The
forward-looking statements contained in this document speak only as of the date of this document. The
Company does not undertake any obligation to publicly update or revise any forward-looking statements
or information, except as required by applicable laws. The forward-looking statements contained in this
document are expressly qualified by this cautionary statement.
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