TSX: ME
Highlights:
Metallurgical gold recovery test work showed increased gold recoveries from drill core from the South West deposit included in the
- Gold recoveries (gravity and leach) increased to 93.9% at a standard grind size
- Gold recoveries (gravity and leach) increased to 95.5% at a finer grind size
- Gravity recovery of gold averaged 50.6%
- Whole ore leach gold recoveries increased to 93.4% recovery
- Combination of higher head grade and gravity recovery increased recoveries by 1.4% for standard grind and 2.0% for finer grind size
- Optimal recoveries at low CN concentrations (0.5 g/L) with low reagent consumptions
The metallurgical gold recovery test-work was conducted to assess the potential gold recoveries and optimum process flow sheet required to develop the project at a head grade reflective of the latest mineral resource estimate on the South West Deposit (Press release issued
Table 1: Total (Gravity and Leach) Gold Recoveries
Sample | Grind Size | Gravity Rec-y | CN Conc | Leach Tail | Leach Rec-y | Head Grade | Recovery* |
(#) | (P80, µm) | (%) | (g/L) | (g/t Au) | (%) | (g/t Au) | (%) |
CN-1 | 79 | 50.6% | 0.50 | 0.26 | 88.8 | 4.58 | 94.3 |
CN-2 | 79 | 50.6% | 0.50 | 0.26 | 88.0 | 4.27 | 93.9 |
CN-2R | 79 | 50.6% | 0.50 | 0.28 | 89.0 | 4.33 | 93.5 |
Average | 79 | 50.6% | 0.50 | 0.27 | 88.6 | 4.39 | 93.9 |
* Normalized Overall Au Recovery = Normalized Overall Au Extraction/100 * (100 - gravity recovery) + gravity recovery |
Discussion of South West Gold Metallurgical Test Work Recovery Results
The metallurgical test-work showed that total gold recovery averaging 93.9% was achievable at a 79 micron grind size, with 50.6% of the gold recovered by gravity at a head grade reflective of the updated mineral resource (Table 1). Finer grinding to 59 micron resulted in an average total gold recovery of 95.5% with 50.6% recovered by gravity (Table 2). Whole ore leaching returned recoveries of 93.4%, (Table 3). Optimum recoveries were achieved after 24 hours leaching after gravity recovery, at a CN concentration of 0.5 g/L, with average laboratory test-work consumption of 1.1 kg/t CN and 1.1 kg/t lime. Lower CN concentration levels and oxygen addition indicated lower overall recoveries (Table 4).
The test work also confirmed that the composite and process tails contained no elevated levels of deleterious elements. Previous test work, also conducted by SGS Canada on composite samples with an average head grade of 0.86 g/t Au without gravity recovery, showed an average total recovery of 92.5% at the standard grind size and 93.5% on the finer grind under similar laboratory conditions. The combination of a higher head grade and use of gravity recovery has resulted in higher gold recoveries. Finer grinding also increases the overall gold recovery.
Table 2: Total (Gravity and Leach) Gold Recoveries: Fine Grind
Sample | Grind Size | Gravity Rec-y | CN Conc. | Leach Tail | Leach Rec-y | Head Grade | Recovery* |
(#) | (P80, µm) | (%) | (g/L) | (g/t Au) | (%) | (g/t Au) | (%) |
CN-3 | 59 | 50.6% | 0.50 | 0.21 | 91.0 | 4.49 | 95.6 |
CN-3R | 59 | 50.6% | 0.50 | 0.21 | 91.0 | 4.37 | 95.4 |
Average | 59 | 50.6% | 0.50 | 0.14 | 91.0 | 4.43 | 95.5 |
* Normalized Overall Au Recovery = Normalized Overall Au Extraction/100 * (100 - gravity recovery) + gravity recovery |
Table 3: Whole Ore Leach Gold Recoveries
Sample | Grind Size | Gravity Rec-y | CN Conc | Leach Tail | Leach Rec-y | Head Grade | Recovery* |
(#) | (P80, µm) | (%) | (g/L) | (g/t Au) | (%) | (g/t Au) | (%) |
CN-7 | 77 | NA | 0.50 | 0.30 | 93.4 | 4.40 | 93.4 |
Table 4: Total (Gravity and Leach) Gold Recoveries; Various Grind Sizes
Sample | Grind Size | Gravity Rec-y | CN Conc. | Leach Tail | Leach Rec-y | Head Grade | Recovery* |
(#) | (P80, µm) | (%) | (g/L) | (g/t Au) | (%) | (g/t Au) | (%) |
CN-5 | 79 | 50.6% | 0.35 | 0.31 | 88.9 | 4.66 | 93.3 |
CN-6 | 79 | 50.6% | 0.25 | 0.38 | 87.6 | 4.66 | 91.8 |
CN-7 | 79 | 50.6% | 0.50** | 0.36 | 85.1 | 4.70 | 92.2 |
* Normalized Overall Au Recovery = Normalized Overall Au Extraction/100 * (100 - gravity recovery) + gravity recovery |
** Oxygen addition |
QA/QC Procedures
All core drilling conducted by Moneta was oriented. Drill core is cut with half sent to
About Moneta
The Company holds a 100% interest in 6 core gold projects strategically located along the
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
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