{kanada_flagge}Shares of advanced gold explorer Goldshore Resources (WKN A3CRU9 / TSXV GSHR) rose sharply yesterday in Canada on heavy volume, continuing the strong rally of recent weeks. The company of CEO Brett Richards published preliminary results on the metallurgy of the ore from its Moss gold project, which look positive.
{kanada_flagge}Shares of advanced gold explorer Goldshore Resources (WKN A3CRU9 / TSXV GSHR) rose sharply yesterday in Canada on heavy volume, continuing the strong rally of recent weeks. The company of CEO Brett Richards published preliminary results on the metallurgy of the ore from its Moss gold project, which look positive.
Goldshore conducted the metallurgical tests to evaluate potential gold recovery and process flows for the Moss project, which includes the Moss and East Coldstream gold deposits. Testing began earlier this year on composite and variability samples from the Moss Main, QES and SW zones and East Coldstream. The program included comminution testing, grind optimization for leaching and flotation, gravity concentration and leaching testing. Cyanide destruction and solid-liquid separation testing are ongoing and will be completed in the second quarter of 2023.
And the initial results of the test work showed that the process of flotation, regrinding and leaching resulted in a significant increase in recovery rates, which are now 93% for the Moss deposit and as high as 98% for East Coldstream! This represents an increase of 8 to 13% in recovery rates over previously conducted standard leach tests.
No wonder that Goldshore CEO Brett Richards is “very pleased” with these strong, albeit preliminary, results. For, as he emphasizes, this should not only increase the economic viability of the new resource estimate, which is to be presented shortly. The new results should also have a positive impact on the project’s Preliminary Economic Assessment (PEA). In addition, the CEO continues, this indicates that the lower grade material could be processed in a heap leaching process. This – comparatively low-cost – process could also “positively change the dynamics of an economic analysis,” Richards said.
Conclusion: The significant improvement in gold recovery rates – according to the preliminary results – is an important positive step for Goldshore Resources and was also appreciated by the market. We are pleased about this, as this important factor is often underestimated. Now, we are curious to see what the new resource estimate for the Moss gold project will bring, which the company has announced for this month.
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