Scotgold Resources Ltd Cononish Bulk Processing Trial ("BPT") Update (2033B)
June 15 2016 - 2:00AM
UK Regulatory
TIDMSGZ
RNS Number : 2033B
Scotgold Resources Ltd
14 June 2016
SCOTGOLD RESOURCES LIMITED ("Scotgold" or "the Company")
Cononish Bulk Processing Trial ("BPT") Update
All production circuits now fully commissioned.
Currently ramping up throughput rates.
Concentrate consisting of sulphides and free gold being
generated.
Consultants appointed to manage marketing and sale of Scottish
gold from BPT.
Initial Observations:
The Bulk Processing Trial ("BPT") is now underway. Whilst there
is currently insufficient data available to draw definitive
conclusions, some early observations can be reported.
-- Product assays suggest the feed grade is in line with the
expected 7.9g/t Au and 39g/t Ag estimated average for the
stockpile.
-- As expected, the impact crusher circuit results in a
relatively coarse product, with approximately 80% less than
400micron ("p80 400um"), compared with the final plant comminution
circuit which will be designed to achieve p80 150um.
-- At this Particle Size Distribution ("PSD"), the impact
crusher is proving very effective at liberating the contained
sulphides (which in turn are associated with the majority of the
gold content) and approximately 90% of the sulphides are
recoverable via the spiral and shaking table circuits.
-- It is estimated that approximately 75% of the contained gold
(including free gold) reports to the sulphide concentrate, with the
balance reporting to the quartz "tail" for future retreatment as
part of the final plant design.
-- The trial has also shown a separate galena (lead sulphide)
rich concentrate is achievable from the shaking table circuit,
which positively impacts on future treatment routes for the balance
of the sulphides and potentially could form a saleable
by-product.
-- Further treatment of the concentrate will be undertaken
during the BPT and this will ensure sufficient free gold is
available to demonstrate the marketability and profitability of
hall marked Scottish gold production from Cononish. To this end the
Company has appointed The Dragonfly Initiative (a firm of
consultants specialising in this area and who have previously
assisted Scotgold) to manage this process.
Richard Gray, CEO of Scotgold, commented:
"We are extremely pleased with the way the BPT circuit is
performing metallurgically as well as in terms of reliability and
ease of operation. The results achieved indicate we may be able to
enhance the design of the final full scale (phase II) plant, both
in terms of recovery and operating cost. Work has now commenced on
the feasibility of a phased development approach, which will
benefit from the experience gained in conducting the BPT."
For further information please contact:
Scotgold Resources Stockdale Securities Capital Markets Vicarage Capital
Limited Limited Consultants Limited
------------------- --------------------- ----------------- -----------------
Richard Gray Robert Finlay/ Simon Rothschild Rupert Williams
- CEO Edward Thomas
------------------- --------------------- ----------------- -----------------
Tel: +44 (0)7905 Tel: +44 (0)20 Tel +44 (0)7703 Tel: +44 (0)20
884 021 7601 6100 167 065 3651 2911
------------------- --------------------- ----------------- -----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSFUFALFMSEFM
(END) Dow Jones Newswires
June 15, 2016 02:00 ET (06:00 GMT)
Scotgold Resources (LSE:SGZ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Scotgold Resources (LSE:SGZ)
Historical Stock Chart
From Apr 2023 to Apr 2024