7th May 2014 11:26
LONDON (Alliance News) - Alecto Minerals PLC Wednesday said its initial cyanide leach tests at Gourbassi East have shown the potential for low-cost recovery at the Kossanto gold Project in Mali.
The gold mining company said that seven samples from drilling at the Gourbassi East site taken in December 2013 have shown high gold recoveries from 60% to over 90% in both oxidised and primary sulphide-bearing mineralisation after cyanide leaching tests.
Cyanide leaching is a low-cost metallurgical technique in which ore is converted to water soluble metal complexes to separate its low-grade gold content.
The company said the tests were conducted as part of its first phase of testing the mining potential of Gourbassi and further metallurgical testwork will now be undertaken to understand the region's potential for gravity recovery.
In April, the company reported an 80% increase in the resources estimate for its Kossanto gold project in Mali, after drilling at two of the three main target areas at the project.
At the time, the company said that Wardell Armstrong International had updated the independent inferred JORC-compliant resource estimate to 5.04 million tonnes, grading at 1.19 grammes per tonne gold for an aggregate 193,000 ounces of gold with a cut-off grade of 0.5 grammes per tonne.
The company recently completed further drilling at the site, and it expects to increase the resource estimates once these results are released.
Alecto Minerals shares were down 10% to 0.990 pence, putting it among the biggest AIM All-Share fallers Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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