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Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX: GCY) is pleased to report metallurgical testwork results for the high-grade Never Never Gold Deposit at its 100%-owned Dalgaranga Gold Project in Western Australia.
Key Points:
- Metallurgical recovery testwork conducted on samples from across the Never Never Gold Deposit show that Never Never high-grade material – being mineralised material that could reasonably be expected to be mined– shows:
- Average 92% overall metallurgical recovery in oxide material, with fresh material averaging above 94% through a standard gravity/Carbon-in-Leach (“CIL”) process flowsheet.
- Overall gravity recoveries or Gravity Recoverable Gold (“GRG”) averages 20% in the oxide material and 34% in fresh material through a standard gravity concentration flowsheet.
- Overall leach kinetics illustrates that more than 90% of the gold contained in high- grade material in CIL feed leaches within 48hrs.
- In addition, testwork on the Never Never high-grade material also shows that there are:
- No material or significant recovery issues from any typical “deleterious elements”, such as copper, lead, zinc, nickel or arsenic in the high-grade material.
- No material, or significant recovery issues from any “preg-robbing” material, such as carbonaceous material in graphitic shale.
- Analysis of the 5-year-old 2.5Mtpa Dalgaranga Processing Plant (“DPP”) shows:
- The existing CIL process plant flowsheet is well suited in its current configuration to process the Never Never high-grade material.
- The comminution circuit is suitable for processing the Never Never high-grade material with upgrades as indicated in the original Dalgaranga Gold Project DFS.
- Gravity, leaching, gold recovery, tailings and plant services are fit for purpose and only require minor refurbishment prior to start up.
- The existing CIL circuit capacity is adequate at the anticipated treatment rates for the Never Never high-grade material.
- Next Steps:
- Refresh of the process design to support varying throughput rate options and recovery of the Never Never high-grade material.
- Optimisation studies on the processing flowsheet targeting further improvements in overall metallurgical recoveries.
- Identification of additional test work to reduce operational risk.
- Mining studies and associated blending strategies – aiming to achieve the best outcome using various feed sources.
Figure 1: Three drill rigs (two diamond rigs – #1 & #2 and 1 RC rig – #3) drilling out the high-grade Never Never Gold Deposit with the 2.5Mtpa Dalgaranga Process Plant in the background.
These results further reinforce the significant potential of the rapidly growing Never Never Gold Deposit at Dalgaranga, which comprises a current Mineral Resource Estimate (MRE) of 303koz @ 4.64g/t Au with significant growth potential that is being targeted by ongoing drilling.
Gascoyne Managing Director and Chief Executive Officer, Simon Lawson, said: “The Never Never mineralisation is very simple: silica-rich, fine iron sulphide as pyrite and accessory gold. The outstanding metallurgical testwork results announced today clearly demonstrate the very simple processing flowsheet required to achieve very high recoveries from the extensive high-grade Never Never mineralisation.
“This ticks another important box in our comeback story, demonstrating that we have an excellent development proposition on our hands at Never Never with excellent metallurgical recoveries and processing characteristics.
“From the initial discovery last year, we have been meticulously checking and double-checking our drilling methods, sampling methods and QAQC methods – analysing each drill-hole with hand-held XRF on the drill pads, regularly duplicating our Photon assays with Fire Assay, and seeking external third-party review of our Mineral Resource Estimates.
“We want the ensure that Never Never is as bullet-proof as possible, underpinned by transparent processes and strong technical work that has been independently verified and checked.
“Never Never is a very special gold deposit that is located right in front of our processing plant. This testwork shows that Never Never material is well suited to that processing plant and that the chemistry is very simple. There are no significant deleterious elements in the ore. There are no material preg-robbing characteristics – a finding that can’t be understated as we have a shale footwall, a rock-type that can sometimes be problematic.
“This metallurgical testwork clearly demonstrates that the footwall shale at Never Never is not an issue – a great result!”
Click here for the full ASX Release
This article includes content from Gascoyne Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Exclusivity for Las Alteras Acquisition
- Norfolk signs exclusivity agreement with Green Shift Commodities Ltd (TSXV GCOM) to acquire Las Alteras uranium project located in Argentina
- Las Alteras uranium project surrounded by non-JORC foreign estimates* at URAmerica’s Meseta Central deposit (19.1Mlbs eU308¹), CNEA’s Cerro Solo deposit (11.49Mlbs U308²), ISO Energy’s Laguna Salada deposit (10.1Mlbs U308³) along with the Cerro Condor and Los Adobes historical uranium mines
- Norfolk receives firm commitments for a strategic placement of A$415,746 via ASX Listing Rule 7.1 capacity
- Additional funding to assist in expediting due-diligence on Las Alteras and exploration planning on the Company’s projects
- Strong cash position of A$3.49m as at 31 December 2023
- Norfolk continues to review complementary projects as the Company looks to expand uranium project suite
- Norfolk to conduct executive search for additional Key Management Personal to progress Australia and Argentina uranium exploration projects
Figure 1: Location map of Las Alteras uranium project
Commenting on Norfolk Metals, Executive Chairman, Ben Phillips, states:
“Norfolk has secured an exceptional opportunity in Argentina where we expect to see strong increase in positive sentiment from government, uranium explorers and investors throughout 2024. Las Alteras is surrounded by multiple uranium deposits to the east, west and south with historical mines located to the north and south. We are currently reviewing the historical drill information boarding the eastern block of Las Alteras where uranium has been delineated in the same structures as the flagship Cerro Solo deposit. This uranium trend is increasing as the holes approach Las Alteras ground making this area one of several priorities of our focus.”
Las Alteras Exclusivity
Las Alteras uranium project is surrounded by non-JORC foreign estimates* at URAmerica’s Meseta Central deposit (19.1Mlbs eU308¹), CNEA’s Cerro Solo deposit (11.49Mlbs U308²), ISO Energy’s Laguna Salada deposit (10.1Mlbs U308³) along with the Cerro Condor and Los Adobes historical uranium mines. AlterasAs the uranium market continues to evolve globally it is Norfolk’s view that the Chubut region of the San Jorge Basin hosting the renowned government owned Cerro Solo deposit presents an exceptional opportunity to diversify and grow the Company. The addition of the Las Alteras project suite will allow Norfolk to progress the appointment of Key Management Personnel and advisors.
Please see the Company presentation regarding the Las Alteras uranium project released today on the ASX on the 18th of April 2024.
Click here for the full ASX Release
This article includes content from Norfolk Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Underway at Trafalgar High-Grade Gold Prospect
Highlights
- Phase 3 drilling has commenced at Trafalgar high-grade gold prospect
- Previously reported drilling included multiple intersections grading >100g/t Au, including:
- TFD001:
- 5.0m @ 12.56g/t Au, incl. 0.4m @ 150.0g/t Au from 202.0m
- TFDD003:
- 1.2m @ 65.9g/t Au, incl. 0.5m @ 143.0g/t Au from 57.5m
- TFDD005:
- 12.3m @ 16.8g/t Au, incl. 0.7m @ 152.5g/t Au from 120.3m
- TFDD013:
- 4.0m @ 23.7g/t Au, incl. 0.5m @ 169.8g/t Au from 25.9m
- TFD001:
- New geological vein model for Trafalgar indicates multiple sub- parallel high-grade veins
- An initial 1,500m drill program is planned that will comprise infill and extension drilling targeting down-dip and along-strike extensions to previous high-grade gold intercepts
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/DP4MXy
Geological modelling of the multiple high-grade veins intersected in drilling at the Trafalgar Prospect in 2022/23 has been completed. The next phase of diamond drilling (Phase 3) has commenced to test in-fill and extensional drilling targets generated from the new geological model.
Managing Director and CEO, Neil Marston commented,
“Since the completion of drilling at the Trafalgar prospect at Golden Ridge in 2023, Flynn Gold has been undertaking geological modelling of the high-grade gold intersected in multiple vein sets.
“This modelling work, in combination with our recent soil sampling activities, demonstrates the potential for extensive gold mineralisation at Golden Ridge.
“Based on the latest information we have designed a program of drill holes with the goal being to target down-dip and along-strike extensions to previous high-grade gold intercepts.
“As gold prices hit record highs, it’s an exciting time for our team to be drilling this new Tasmanian gold discovery.”
Figure 1 - Location of Flynn Gold tenements in NE Tasmania.
Trafalgar Prospect – Geological Vein Model
A 3D geological vein model was recently completed for the Trafalgar prospect. The model interprets 3 main gold mineralised veins, accompanied by a network of subsidiary mineralised splay veins and sheeted vein swarms bifurcating off the main veins (see Figure 2).
All of the main mineralised veins transect the granodiorite – hornfelsed metasediments contact, with gold mineralisation hosted in both the granodiorite and metasediment host rocks.
Click here for the full ASX Release
This article includes content from Flynn Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.