Virgin Metals Announces Updates for their Los Verdes Project

- December 20th, 2011

Virgin Metals (TSXV:VGM) announced updates for their Los Verdes Project. The Company will also release a new Preliminary Economic Assessment in January 2012.

Virgin Metals (TSXV:VGM) announced updates for their Los Verdes Project. The Company will also release a new Preliminary Economic Assessment in January 2012.

As quoted in the press release:

On January 10, 2012, the Company will release a new Preliminary Economic Assessment for Los Verdes incorporating:
The new Los Verdes resource estimate;
Historic Potreritos resource estimates;
Updated commodity prices;
Recently finalized metallurgical analysis;
Newly developed capital expenditures based on a detailed metallurgical simulation and plant engineering design; and
A sensitivity analysis demonstrating the potential impact of the Potreritos acquisition as well as other identified economic opportunities.

Virgin Metals, President and CEO, Chris Frostad, said:

The material economic improvement resulting from our recent acquisition of the Potreritos project requires an adjustment to our schedule in order to accommodate its additional resources into the pre-feasibility study

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