The initial results from phase one of the tailing sampling at the Tech Hughes site revealed a gold grade 16.9% higher than historically reported.
The sampling involved six different sites to get an average weighted result of 0.717 grams per ton, which is notably higher than previously expected.
Phase one is not yet complete; it includes checking and verifying the gold grade and conducting leech tests to extract gold from the tailings. Results from these tests are expected shortly. The first batch is due any day back from the lab.
The company has a close working relationship with Extrakt. This technology has shown promise in other contexts, suggesting recovery rates might significantly improve compared to traditional methods.
More detailed cost analysis and profitability projections will be part of phase two. The company aims to optimize the leeching process and increase recovery rates, potentially leading to better financial outcomes for the company and its stakeholders.
By Mark Fairbairn Recorded 7/5/2024
