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Feb. 10, 2015 03:25PM PST
Completed by SGS Canada, testing was done on a 2-kilogram surface sample from an exposed vein with a head grade of 55.8 percent graphitic carbon.
Caribou King Resources‘ (TSXV:CKR) share price ended Tuesday up 27.78 percent, at $0.115, after the company released the results of the first beneficiation test on graphite from its Quebec-based Buckingham property.
Completed by SGS Canada, testing was done on a 2-kilogram surface sample from an exposed vein with a head grade of 55.8 percent graphitic carbon (Cg). It was concentrated via grinding and flotation and split up into +48, +100 and -100 mesh size categories, with the +48 material returning the highest Cg percentage.
Specifically, the +48 category came back at 99.3 percent Cg, while the +100 and -100 portions came in at 98.8 percent and 95.3 percent, respectively.
Michael England, Caribou King’s CEO and director, is definitely pleased with those results, and said in Tuesday’s release, “[a]fter just an initial traditional flotation test, Buckingham has yielded a concentrate that assayed 99.3% Cg which is extremely encouraging, especially when considering that they were obtained in a single set of tests without any process optimization.”
The release notes that a full process development study — including grinding and flotation optimization — should “return higher flotation concentrate recoveries and grades, thus reducing the operating cost of a downstream purification process.”
No word yet on a timeline for that study, but Caribou King does state that because of Tuesday’s results it’s now planning a follow-up program.
Moving forward, investors can also expect to see the company do some work at its TAC and Montpellier/MGD properties, also located in Quebec. It said in a December 2014 press release that it was set to launch “detailed reconnaissance program[s]” on all three in order to determine which might be a good flagship project.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Caribou King Resources is a client of the Investing News Network. This article is not paid-for content.
