Medallion Metals will review optimum metal extraction methods following excellent gold and copper recoveries at the company’s flagship Ravensthorpe Gold project, located southeast of Ravensthorpe in southern Western Australia.
As gold and copper remain relatively strong compared with many other commodities, the company has confirmed conventional process route recoveries of more than 92 per cent for gold and copper, with that later averaging almost 96pc.
An independent contractor will now assess the optimum recovery methods with estimates of reagent consumptions, recoveries and concentrate grades expected under normal operating conditions. The study will also investigate the ability to bypass the flotation step for low copper ore.
Additionally, a gap analysis will identify the support required to complete a definitive feasibility study level of assessment of the technical and commercial viability of the project.
“The metallurgy review is an important step for Medallion to both consolidate the significant amount of historical work done and plan for the future,” managing director Paul Bennett said.
“Our intention is that the next round of metallurgical test work is definitive and final such that it supports a definitive level of assessment of RGP.
“The historical results suggest high gold and copper recoveries can be consistently achieved using industry-standard processes.
“This work will increase the certainty that those results are repeatable across the lithologies and deposits and can be scaled up to commercial rates.
“We’re pleased to have an industry leader in GR Engineering assists us in this regard.”
MM8’s Australian Stock Exchange-listed share price has risen 2.5pc, trading at 20c today (10:13 am GMT+ 8 hours).