9th Mar 2015 11:28
LONDON (Alliance News) - Armadale Capital PLC Monday said it has received a positive update on the metallurgical testwork on the Mpokoto gold project in the Democratic Republic of Congo which has confirmed the gold recoveries revealed from previous testwork.
The un-milled samples from the oxide zone at Mpokoto were taken from a drilling programme conducted last year, and the results have confirmed recoveries of 84% to 92% from the undersize material arising from the trommel screen, which will be processed in the first stage of the gold plant at the project, it said.
A trommel screen is a unit that separates material based on size, with undersized material smaller than the screen passing through the screen, while oversized material exits at the other end of the drum.
The oversized material from the trommel screen will be stockpiled and treated in the second stage of the gold plant.
Armadale said the testwork confirmed the overall recovery rate for the project remains at 90% of the contained gold at the project.
"The results of this metallurgical testwork confirm the results of previous testwork and significantly increases the management confidence in the design of the processing plant to extract the gold," said Justin Lewis, director of Armadale.
The company is currently finalising a definitive feasibility study on the project whilst holding discussions with potential funding partners to secure the USD20 million of capital required to commence construction of the Mpokoto project.
"The scope and scale of the Mpokoto gold project continues to develop in line with our expectations with a view to being able to deliver a low capital expenditure, low operating expenditure commercial gold mining project in the near future," said Lewis.
The company is aiming to bring the project into production during the first half of 2016.
Armadale shares were down 5.9% to 0.0400 pence per share on Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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