Wellgreen Platinum Ltd. (TSXV:WG,OTCQX:WGPLF) announced results from metallurgical testwork at its Wellgreen project located in Canada’s Yukon. The results are a second major milestone for Wellgreen and the completion of an updated preliminary economic assessment (PEA) for the project.
The company is fully funded for its PEA and for the initiation of pre-feasibility level studies.
As quoted in the press release:
- Metallurgical testwork using conventional flotation shows improved recoveries for all major metals versus the 2012 Preliminary Economic Assessment, including increases of 35% for platinum and 13% for nickel
- Results indicate potential production of a high-value bulk nickel-copper-PGM concentrate with grades of 6-10% nickel and 8-12% copper with 11-14 g/t 3E (platinum, palladium and gold) plus an additional 1-4 g/t of rare PGMs (rhodium, iridium, osmium and ruthenium)
Wellgreen president and CEO, Greg Johnson, said:
These new results clearly show that a high quality, smelter grade bulk concentrate can be produced from the Wellgreen mineralized material at high levels of recovery using conventional sulphide flotation. In addition, the high levels of platinum group metals and gold in these concentrates have potential to add substantially to their commercial value along with the nickel and copper. Based on our review of other commercial bulk nickel concentrates and smelting contracts, the Company and its concentrate marketing consultants believe that such a bulk concentrate is likely to have strong interest from multiple existing smelters.