THE BOURSE WHISPERER: Draig Resources (ASX: DRG) reported excellent initial gravity and cyanide leach recovery test work results from the Tribune Lode discovery at the company’s Bellevue gold project in Western Australia.
Draig Resources tested three composite samples during the metallurgical program, all of which were sourced from hard rock samples of primary Lode material for testwork conducted by ALS Metallurgy in Perth.
The work returned total gold extraction results of up to 98.8 per cent through a combination of gravity and 48-hour cyanide leach bottle rolls.
Exceptional gravity recoveries of up to 82.5 per cent of total gold recovered by the Knelson Concentrator prior to cyanide leaching.
Draig Resources said the results of the preliminary program were in line with company expectations based on historical performance at the adjacent Bellevue mine.
The company said the results also indicate that Tribune Lode will be amenable to a conventional gravity and cyanide leach processing circuit.
The company indicated it will be continuing drill testing of deeper extension targets below the Bellevue underground mine over the coming weeks leading to an anticipated Resource estimate for the Bellevue gold project in quarter three this year.
“The confirmation of excellent gold recoveries from the Tribune Lode is in line with our expectations and demonstrates a conventional processing technique can be used to extract gold from the Tribune Lode,” Draig Resources executive director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.
“We are looking forward to updating the market to our activities in quarter three 2018 in regard to the deeper drill targeting, our maiden resource estimate for the Bellevue gold project and the commencement of regional exploration.”