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Maximising value from critical minerals, battery metals and black mass: Metso’s Duncan Wyatt
‘We aim to create solutions to accelerate sustainability in the industries we operate in’
Duncan Wyatt is an internationally respected voice in the mineral process engineering and technology arena. Currently critical minerals and hydrometallurgical solutions director at Metso, he will bring valuable insights to discussions about sustainable processing of critical minerals and battery metals to this month’s IMARC in Sydney.
Richard Roberts, Mining Beacon editor, caught up with him ahead of the event.
Richard Roberts: You’ve been around the mineral processing industry for more than 30 years, starting in Tasmania (Renison tin), then South Australia (Geologics) before plus-20 years with Outotec in Australia and Canada. Now Metso for the past four years in Perth. Have you seen enough of the world, or do you still enjoy the travel part of working in mining?
Duncan Wyatt: When I first left Tasmania the travel aspect was certainly very appealing. I have been fortunate to have visited too many countries to count and every continent except Antarctica, although I did consider a one-year break to work on an Antarctic research project aligned with Tasmanian University before I moved to South Australia.
More than the travel it has been the people I have met at various mine sites and companies that have been the highlight. The Australian mining sector is very large but within it there are many connected communities and talented people.
Richard Roberts: Speaking of change, Australia has become the global supply hub for lithium minerals in recent years. What have been the most significant, or impactful, changes you’ve seen in the lithium and related processing arenas?
Duncan Wyatt: Yes, it has been a profound and rapid change. I was involved with mineral processing projects at both Greenbushes and Wodgina in the mid-90s but at that time tin and tantalum were the target minerals and spodumene was either rejected or less commercially viable.
However, the surge in personal electronic devices which oddly enough drove the demand for tin and tantalum also created the impetus for lithium usage to become widespread. Starting in 1985 with the development by Akira Yoshino, a Japanese chemist, of the first lithium battery technology, Sony began commercialisation for its range of products.
By the 1990s Greenbushes had begun supplying lithium to China for the production of lithium hydroxide for batteries. It is the latest surge in consumer demand that has driven the recent developments, with EV cars requiring an order of magnitude larger lithium battery than the personal electronic devices that started the industry.
Now battery-grade lithium hydroxide is produced here in Western Australia using local spodumene as a lithium source. Metso has been at the forefront of optimising the downstream processing of spodumene to lithium hydroxide. The Metso leach process is environmentally sustainable: acid and sulphate free, without undesired crystallised salts or by-products, producing inert and neutral mineral residue for re-use or disposal.
Richard Roberts: On the very topical battery materials/black mass recycling – or urban mining – front, what has most caught your attention, in terms of technology development, market trends, etc, in the past 2-3 years, and why?
Duncan Wyatt: Recycling of lithium batteries is an emerging field which has struggled for a commercial basis due to a number of factors. Feedstock quality and variability, as well as future trends for different lithium battery chemistries that would require alternative recycling process routes, have made this process challenging.
In the Asia Pacific region several companies in South Korea and China are utilising manufacturing scrap, which is material that has not made it through the rigorous EV lithium battery manufacturing process, as their main source of feed. These companies are typically EV manufacturers or strategically linked, with facilities local to their partner.
Metso technologies for solvent extraction, which play a key role in the recycling of black mass, are beginning to penetrate the processing space due to their highly efficient unit processes and based off our know-how in the field, which is centred around our R&D team in Pori, Finland. Our recent work with battery-grade nickel, cobalt and manganese producers has reduced recycling, MHP, or nickel matte processing stages from over 100 to between 20-30 using Metso technologies and know-how.
This trend away from traditional local processing designs and basic equipment is driven by commercial realities, focusing on total cost of ownership, including plant footprint, power and services requirements as well as operational costs. Complex processing facilities with too many processing stages also require expensive solvent extraction chemicals.
Richard Roberts: Battery black mass recycling is quickly emerging as a vital process for the future. “This is such a fast-moving field that it’s hard to predict the future,” says Metso’s Madeleine Scheidema. What sort of challenges/opportunities does this rate of change present?
Duncan Wyatt: The rapidly changing landscape of battery chemistry means we must be agile to meet the market needs and in particular those of our clients both new and existing. The challenge is to tackle the issues at hand while constantly looking to future trends to ensure our know-how and capabilities lead the sector.
Richard Roberts: Metso obviously inherited some technologies and process know-how through its merger with Outotec. Is it fair to say some of this tech/know-how has increased in value – given the range/weight of applications – and continues to grow in value?
Duncan Wyatt: Certainly, as an alternative to smelting, hydrometallurgical processing can be an option. Metso’s hydrometallurgical know-how in pressure leaching using proprietary autoclave designs as well as BIOX based leaching processes are leading the way in processing of both complex gold and copper deposits as well as historical tailings deposits.
Downstream, our solvent extraction technologies and processing design capabilities are driving our entry into the businesses that are central to the energy transition and EV manufacturing, as well as base metals applications for copper, nickel, cobalt and zinc. We hope our existing clients can benefit from these advancements and that our new clients, aiming to stay competitive in the circular energy transition economy, also benefit. With our purpose to enable sustainable modern life, we aim to create solutions to accelerate sustainability in the industries we operate in.
Richard Roberts: What has happened to pilot and other testing levels at Pori and other Metso facilities – specifically in these alkaline leach process, lithium hydroxide process and mineral/metal recycling areas – over the past, say, five years?
Duncan Wyatt: As I said, our know-how in Pori is paramount to both our ability to develop novel processes for these many new downstream processing routes key to battery manufacturing and recycling, as well as utilisation of more complex base and precious metal ore bodies. Our bench-scale and piloting facilities give us an great competitive advantage. One area where this is illustrated is in the new demonstration scale pilot plant to support Metso’s new pCAM Reactor and associated plant. The production of NCM [nickel, cobalt and manganese) based cathodes for lithium-based EV batteries make up about 50% of the world’s lithium battery requirements.
Metso has developed a proprietary reactor and associated process that we believe provides a more sustainable route to produce these key pre-cursor materials for the cathode manufacturing process.
Our demonstration scale plant at Pori enables clients developing plants worldwide to trial chemistries and pCAM product specifications to support commercialisation, knowing that Metso will remain their processing partner through concept demonstration, financial investment decision and project execution.
Richard Roberts: How much activity are you seeing in the next few years?
Duncan Wyatt: Activity in copper and gold is forecast to be high, with battery material lifting by the end of 2028. At Metso our activity level is always high. The project cycle is significant for many of these new process routes and associated projects - a lot of work is ongoing with testing, studies and plant designs.
Richard Roberts: Where, geographically, are you seeing high, or increasing, levels of activity? Are the drivers the same or different?
Duncan Wyatt: The adoption of EV cars in the Asia Pacific region is leading the world, with countries like Thailand seeing extraordinary acceleration in take-up rates. We know that this rate of adoption will fuel local interest in battery materials and recycling, and we are committed to offer our services in these regions where demand presents.
Richard Roberts: Obviously upfront cost/lifecycle costs are going to affect adoption rates, but what is separating the leading technologies in the market today from a design/performance point of view?
Duncan Wyatt: Whilst many are keen to enter the market, we have seen some companies make missteps either in underestimating the demanding requirements to produce battery grade end-products, or in the costs to execute projects and ramp them up to produce end-products compliant with the demanding specifications of the industry.
Looking solely at the upfront or “equipment costs” in isolation undervalues the presence of a major partner during the process development, implementation and optimisation stages of any project. Metso’s global footprint, resources and know-how hopefully provide the value proposition that will see us partner with many in this significant market sector in the near term and for many years to come.
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Wadi Al Junah VMS-Style Copper-Zinc-Gold-Silver Project in Saudi Arabia
Metal Bank Limited (ASX: MBK) (‘Metal Bank’, ‘MBK’ or the ‘Company’) is pleased to announce further details regarding the Wadi al Junah Copper-Zinc-Gold-Silver Project (‘Wadi al Junah’ or ‘the Project’), which has been awarded to Consolidated Mining Company (CMC) following a highly competitive Saudi government exploration licensing Round 6.
Highlights
- As announced on 6 November, MBK’s Saudi Arabian JV company, has been awarded the Wadi Al Junah Project as part of the Saudi Government’s Exploration Licensing Round 6
- Wadi Al Junah is prospective for volcanogenic massive sulphide (VMS) copper-zinc- gold-silver mineralisation and for shear zone gold-silver, with several untested priority targets
- The Project is 35km east of the Al Hajar Au-Ag-(Cu-Zn) deposit previously mined by Ma’aden and is proximal to the regional centre of Bisha, and close to major access routes, local towns and workforce
- Saudi exploration strategy is supported by a well capitalised in-country JV Company in CMC and significant Saudi government incentives to de-risk and fast-track exploration
- Metal Bank continues to assess new potential project areas in Saudi Arabia prospective for copper, gold and other critical minerals – several tenement applications in progress
CMC is a Saudi Arabian limited liability company owned by MBK (60%) and Central Mining Holding Company (‘CMH’, 40%). CMH is a member of the Al Qahtani Holdings group, and was the JV partner of Citadel Resources which, under the leadership of Inés Scotland as Managing Director, was responsible for the exploration and development of the Jabal Sayid copper project in Saudi Arabia (prior to its acquisition by Equinox). CMC will be responsible for managing and implementing the work program for the Wadi Al Junah project utilising the technical expertise of MBK, as the exploration JV partner, in combination with the KSA expertise of the Al Qahtani Group. CMC has a current capitalisation of SAR5m (~AUD2.1m).
Wadi al Junah with an area of 427km2 was the largest of the projects offered in Round 6 and is proximal to the major regional centre and airport of Bisha, with major access routes passing through the license area and local towns and workforce close by. The Project is located in the prospective Wadi Shwas Gold Belt, a region under-explored for shear zone gold, VMS copper-zinc-gold-silver and intrusion-related gold and base metal deposits. It is supported by several mineral occurrences with encouraging geological observations, and gold, silver and copper grades in historic regional- scale reconnaissance mapping, which have not been followed up by modern work.
MBK’s technical team has prepared a comprehensive two-year work program, with an initial focus on following up the previous limited and surface based exploration for mineral occurrences of copper, gold and silver. MBK is aiming to be drill-ready within the next six months.
Commenting on this acquisition, Metal Bank’s Chair, Inés Scotland said:
“The successful tender for the Wadi al Junah project in Saudi Arabia by our JV company CMC via a tightly contested and highly competitive exploration round speaks to our commitment, capability and technical expertise in achieving our strategy of acquiring prospective tenure within Saudi Arabia, which we believe remains underexplored and highly prospective.
Wadi al Junah represents our first project back in Saudi Arabia, a region in which MBK’s management team has extensive experience and a proven track record of success, having previously developed the Jabal Sayid project. We are well-supported by both our JV partner and the significant government incentives provided by the Kingdom of Saudi Arabia in search for the next Jabal Sayid. The Arabian Shield has so much underexplored potential, and we are ready to get our initial phase of exploration underway as quickly as possible.”
Wadi al Junah Copper-Zinc-Gold-Silver Summary
The Wadi al Junah project area covers an area of 427sq km within the Asir province of the Arabian Shield, southwest Saudi Arabia (Figures 1 and 2). It is approximately 375km south-east of Jeddah, 150km east-northeast of the port of Al Quinfidhad and around 35km east of the Al Hajar Au-Ag-(Cu- Zn) deposit previously mined by Ma’aden. It is proximal to the major regional centre and airport of Bisha, with major access routes passing through the license area and local towns and workforce close by. The majority of the project area is accessed by local tracks and wadi valleys in moderate topography.
Figure 1: MBK MENA projects showing Wadi al Junah (Saudi Arabia) and Malaqa, Area 47 and Area 65 (Jordan).
Figure 2: Wadi al Junah location map within the Arabian Shield showing major geological provinces and major Au and Cu mines (modified from KSA Ministry of Industry and Minerals publication after Nehlig et al, 2002)
Geology
Wadi al Junah is situated within the central Asir terrane of the Archaean Arabian Shield (Figure 2) within the ~80km long north-trending Wadi Shwas Gold Belt. The Shwas VMS belt on the western margin of the Wadi Shwas Gold Belt is host to the Al Hajar Au-Ag-Cu-Zn deposit, and numerous other VMS base metal and Au mineral occurrences of Proterozoic age are present in the region (Figure 3).
Three known mineral occurrences occur in the tenement area – Haniyat (Ag-Cu-+/-Au+/-Zn), Wadi al Maytha (Ag-Cu) and Wadi Umm Rahka (Ag-Cu). Very limited rock chip sampling as part of regional scale mapping work in the 1960’s and 1970’s includes results up to 1.53% Cu, 0.44g/t Au and 160g/t Ag from these prospects, which were never followed up1.
Click here for the full ASX Release
This article includes content from Metal Bank 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.
Octava to Commence Drilling at Yallalong High-Grade Antimony Project
Octava Minerals Limited (ASX:OCT) (“Octava” or the “Company”), a Western Australia focused explorer of the new energy metals antimony, REE’s, Lithium and gold, is pleased to report that the drill rig is relocating to site at the Yallalong antimony project and will commence drilling this weekend. Drilling will focus on two antimony targets, Discovery and Central, with No.4 and North targets to be drilled in the new year.
Highlights
- Drill rig relocating to site with drilling to commence this weekend.
- The 3000m reverse circulation (RC) drill program is targeting further high-grade antimony at the Discovery prospect.
- Historic drilling at Discovery recorded high-grade antimony intercepts over a strike length of ~300m and remains open. Results include:
- YRC16: 7m @ 3.27% Sb from 12m including 1m @ 11.5% from 18m
- YRC06: 3m @ 6.83% Sb from 21m including 1m @ 13.6% Sb from 22m
- After drilling at Discovery, the drill rig will relocate to the Central antimony target, 2km north along strike. There has been no previous drilling at Central.
- A detailed geophysical survey over the antimony corridor at Yallalong is now complete, with the data being processed. This is expected to generate further targets within the antimony corridor.
Octava’s Managing Director Bevan Wakelam stated, "It’s great to have the rig heading to site and earlier than we had planned. The drilling will start on Discovery, then move to the Central target and should take about 2 weeks to complete. High-grade antimony has already been intersected at Discovery over a significant strike length and this drilling will further test the size. We will also twin some of the previously drilled holes."
Figure 1. Planned drill hole locations at the Discovery antimony target - Yallalong Antimony Project.
The antimony (Sb) mineralisation identified at Yallalong appears within a 10km north-south striking mineralised corridor that is interpreted to be related to a structural belt between the regional scale Darling and Woodrarung faults. Previous exploration identified four principal antimony targets where antimony mineralisation was exposed at surface. Only the Discovery Prospect has any drilling and remains open. Antimony ingot prices at that time were ~$8000/tonne compared to over $30,000/tonne now1.
Figure 2. Antimony targets at Yallalong antimony project with underlying geology.
Drilling at Discovery target recorded some of the highest-grade antimony drill intersections in Australia, at shallow depth, over a strike of ~300m including:
- YRC16: 7m @ 3.27% Sb from 12m including 1m @ 11.5% from 18m
- YRC06: 3m @ 6.83% Sb from 21m including 1m @ 13.6% Sb from 22m
- YRC27: 6m @ 1.35% Sb from 13m
After drilling at the Discovery target is complete, the rig will then move to the Central target, which is located 2 kilometres north along strike. There has been no previous drilling at the Central target.
Click here for the full ASX Release
This article includes content from Octava Minerals 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.
Targeted Exploration Focus Delivers an Additional 471koz or 99% Increase in Ounces, and a Higher Grade for Ricciardo
Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to report on an updated MRE for its flagship Ricciardo Gold Deposit, part of the broader Golden Range Project located in the Murchison region of Western Australia.
HIGHLIGHTS:
- Updated Mineral Resource Estimate (MRE) for the Ricciardo Deposit (part of the broader Golden Range Project) of 16.44 Mt @ 1.8 g/t Au for 947.5 koz gold.
- Represents a 99% increase in Ricciardo MRE contained gold ounces.
- Proven high-returning exploration with the increased Ricciardo MRE ounces delivered at an attractive all-in discovery cost of only approx. A$16/oz.
- High-quality resource additions given drilling focus on high-grade growth ounces with strong commercial potential.
- The updated Ricciardo MRE comprises:
- 467.5 koz @ 1.6 g/t Au open-pit gold Resource (75% M&I) (optimised pit shell constrained at A$3,300/oz)
- 480.0 koz @ 2.0 g/t Au underground gold Resource
- Critically, the Ricciardo system remains wide open at depth and along strike.
- Total Golden Range Project Mineral Resources now stand at over 1.28 Moz gold, a 58% increase from the previous level.
- This initial outcome validates the excellent potential for further growth within the broader 25km ‘Golden Corridor’ via the ongoing, simple strategy of targeting fresh rock extensions under shallow existing pits.
- RC drilling at the southern end of the ‘Golden Corridor’ targeting high-grade Resource growth is progressing well; 9 holes completed for 1,472 metres to date, assays pending.
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“This is the result we have been working towards all year. With less than 15,000m of targeted, efficient drilling we have added over 470 koz to the Ricciardo deposit, doubling the Resource.
We are excited by both the outcome itself, and the outlook that it delivers us for the wider corridor of gold deposits. The simple strategy of drilling below shallow open pits to find mineable ounces worked exceptionally well for our producing neighbours. The validity of this strategy is now beyond doubt, for us.
Not only is the Ricciardo system still wide open down-plunge, but the entire 25km long ‘Golden Corridor’ offers similar potential upside from such a relatively simple drilling focus.
In the middle of the infrastructure-rich southern Murchison, and located on existing Mining Leases, the opportunity in front of us is utterly irresistible.”
The Ricciardo Deposit
The Ricciardo Gold Deposit is located on existing mining leases 100% owned by WA8, in the Murchison Region, approximately 300 km east of Geraldton, and 420 km by road north-northeast of Perth. Sitting approximately 8km South of the Golden Range Mill on M59/421, and M59/458, within the Golden Range group of historic open pit mines and deposits.
Discovered in the 1990’s, open pit mining of the oxide resources commenced in 2001, and the plant entered Care & Maintenance twice (between July 2004 and 2009, and May 2010 to mid- 2013). Production was over 300 Koz before finally going into ongoing Care and Maintenance in August 2019.
The Ricciardo deposit is located 90km north of Capricorn Metals’ Mt Gibson Gold Project, 8kms south of the Company’s plant, 26km from the neighbouring Golden Grove processing facility and 40 km northeast of Vault Minerals’ high grade Rothsay gold mine (Figure 1).
Figure 1: The location of the Ricciardo gold deposit within the Golden Range Project; within the broader Southern Murchison region.
The Ricciardo gold system spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth prior to Warriedar drilling. Historical mining operations at Ricciardo were primarily focused on oxide material, with the transition and primary sulphides mineralisation not systematically explored.
Warriedar’s drilling of Ricciardo during CY2024 achieved excellent results, demonstrating high- grade extensions to the resource. The results demonstrated that the previously quantified resource is part of a much larger system.
Warriedar engaged independent mining consultants, Measured Group to update the Ricciardo MRE, previously reported 476Koz gold.1
The Ricciardo Gold Deposit consists of six semi-continuous historical open pit mines along the 2.3 km arcuate stretch of the Mougooderra Shear Zone, running north to south. These mines are named (from north to south) Silverstone North, Ardmore, Copse, Silverstone, Silverstone South, and Eastern Creek (Figure 2).
Figure 2: Drilling carried out by the Company during 2023 & 2024, which was used to update the MRE.
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This article includes content from Warriedar 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.
Octava Selects Drilling Contractor for its Yallalong Antimony Project in Western Australia
Australian mineral exploration company Octava Minerals (ASX:OCT) has selected the drilling contractor for the exploration work commencing at its 100-percent-owned Yallalong antimony project, according to an article by Business News - Australia. The deal will kick off the company’s 3,000-metre program focused on the Discovery target.
“Antimony is on an absolute price tear, up almost 300 percent in the past four years and more recently exacerbated by a Chinese export ban. Given its prospects, Octava would seem to be perfectly positioned to take advantage,” the article said.
The exploration campaign will target the Discovery and Central zones and will begin in the next two weeks. The Central prospect has been drilled before with rock chips reported to contain up to 60 percent antinomy.
Western Australia Allocates AU$14 Million to Improving Environmental Approval Process
Western Australia's governmentsaid on Monday (November 11) that it is allotting AU$14 million to support the employment of additional staff at the Environmental Protection Authority (EPA) and the Office of the Appeals.
The boost comes in response to the Vogel-McFerran Review commissioned by the government in 2023. It recommended various steps to speed up the state's environmental approval system and secure major projects.
According to the government, employing additional staff will help address existing backlogs and provide faster decisions “without impacting the high standard for protecting WA's unique environment.”
"We've overhauled WA's environmental approvals system to fast-track approvals while maintaining the highest environmental standards in the world,” said Premier Roger Cook. "This resourcing boost will help our approvals agencies to clear the backlog of approvals and deliver faster outcomes for project proponents across the state."
The investment also follows recently legislated amendments to the Environmental Protection Act, including the allowance of government regulators to process and issue parallel approvals while EPA assessments are underway.
Aside from that, it grants Western Australia's environment minister the power to supply the EPA with a statement of expectation, and allows an overall membership expansion of the EPA’s board.
The government said the investment means investors will receive greater certainty and quicker decisions.
As part of its commitment to improving the resource industry, 22 out of 34 of the Vogel-McFerran Review’s recommendations have recently been fully or partly actioned by the Western Australian government.
Recently, 50 companies received grants worth AU$7.28 million under Round 30 of Western Australia's Exploration Initiative Scheme. The funds are for the drilling of projects between December 2024 and November 2025.
“We're delivering on our clean energy plan, securing major, job-creating projects to position WA as a global renewable energy powerhouse," Cook added in this week's press release.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Drilling Preparations at Abercromby Gold Project
BMG Resources Limited (ASX: BMG) (BMG or the Company) is pleased to announce that preparations to resume drilling at its 100%-owned Abercromby Gold Project are well advanced with the start of drilling scheduled for this month.
- Diamond drill programme focused on resource growth is scheduled to commence this month at the Abercromby Gold Project
- Extensional drilling of high-grade zones is planned with potential to add significantly to BMG's maiden resource of 518,000 oz Au at 1.45 g/t Au
- Infill drilling planned to convert inferred resources to the indicated category to support development studies
- Programme of Work approval in place
- Programme of Work approval in place
John Prineas, BMG's Non-Executive Chairman, said:
"Following the support shown by investors in the recent capital raising, the team at BMG have moved quickly to finalise arrangements to resume drilling at the Abercromby Gold Project.
"The drill programme will focus on expanding high-grade gold zones beyond the existing resource shell, as well as increasing resource confidence by upgrading inferred resources to indicated status.
"The results of the drilling have potential to contribute significantly to resource growth at Abercromby, and to ..iaterially boost the potential project economics."
Drilling for growth in gold resources:
BMG delivered the large maiden Mineral Resource at Abercromby after completion of only three drill campaigns and at a discovery cost of just $8.35 per ounce. This achievement highlights the extensive gold endowment at Abercromby, as well as the efficient exploration planning by our technical team.
This excellent track record of results at Abercromby provides confidence in the potential for continued drilling success at Abercromby that could increase the size of the gold resource.
The Abercromby Gold Project is owned 100% by BMG and comprised within two granted Mining Leases. The Project is located in an established mining region with access to infrastructure (roads, power) and proximal to a number pf producing gold mines.
The favourable metallurgical properties of the Abercromby ore were confirmed by metallurgical testwork completed by Extreme Metallurgy and reviewed by GR Engineering Services. That testwork concluded that the Abercromby gold mineralisation was free milling in nature and amenable to traditional carbon-in-leach processing. High gold recoveries were achieved in the range 93% to 95%.
Maiden Resource is just the beginning:
The maiden MRE for Abercromby is comprised in the Capital Deposit and is defined as 11.12Mt @ 1.45 g/t Au for 518,000 oz Au. This resource is a subset of a global resource estimate containing about 670,000 oz Au at a Og/t Au lower cut-off.
The Capital Deposit remains open at depth and along strike — both to the north and south. A diamond drilling program is planned to commence this month to test for extensions of the mineralisation as well as to convert inferred resources to the indicated category.
The prospective stratigraphy at Abercromby extends for more than 6km with only a strike of 1.2km systematically drilled to date. This provides potential for substantial discovery opportunities with further exploration drilling.
Drilling is also planned for early next year to test regional targets to the south of the Capital Deposit.
Reconnaissance aircore drilling at the Capital South, Archer and Barrack Prospects — located along a 1km corridor of prospective stratigraphy to the south of the Capital Deposit — has confirmed the presence of a large high-grade gold system and supports the potential for a repetition of significant mineralisation like the Capital Deposit.
Table 1: JORC-compliant Mineral Resource for Abercromby.
A further announcement will be issued by BMG once drilling commences at Abercromby.
For further information on the Abercromby resource, see our ASX announcement dated 6 February 2023 'High Gold Recoveries — Abercromby Met Testwork' and 17 April 2023 '518,000oz Au Maiden Mineral Resource for Abercromby Gold Project'.
Click here for the full ASX Release
This article includes content from BMG Resources Limited (ASX: BMG), 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.
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