{kanada_flagge}Initial metallurgical testing on drill core from Goliath Resources’ (TSXV: GOT; FRA: B4IF) Surebet discovery shows that the project, first discovered in 2020 and 2021, is also delivering world-class recoveries. The “Surebet Sandwich” is part of the Golddigger Project in British Columbia’s Golden Triangle. Initial gravity and flotation tests show exceptionally high recovery rates for gold, silver, lead and zinc. Gold recovery reached 98.2% and silver recovery reached 86.4% in combined gravity and flotation tests. Gravity recoverable gold alone is an impressive 38.1%, indicating that a significant amount of gold can be produced on site in the form of doré bars.
Flotation tests indicate that a precious metal-rich lead concentrate containing an additional 52.5% gold and 62.6% silver and 75.4% lead can be collected in a low mass product (7.7% or 13:1) after gravity recovery. Such a high-grade concentrate product, containing about 2 ounces per tonne of gold, 55 ounces per tonne of silver, and 12.9% lead in this test case, could likely be sold to a large number of smelters in Canada or elsewhere in the world.
Gravity plus lead flotation results in a high recovery of 90.6% gold and 73.1% silver. Final testing to produce a Zn flotation concentrate recovered an additional 7.6% Au, bringing the total Au recovery to 98.2%. In addition, 13.3% Ag was recovered, bringing the total Ag recovery to 86.4%. These impressive results come from gravity and flotation tests in which the material was ground to 150 microns, a somewhat coarse size that indicates modest power consumption during grinding.
For experts, Bond’s Work Index, a measure of the energy required to grind the rock, is a moderately low 12.25 kilowatt-hours per ton, which is another indication that energy consumption for the project should be relatively low. These results suggest that Goliath may be able to use a non-cyanide (“CN”) method of precious metal extraction at Golddigger, which would be environmentally beneficial.
Dr. Quinton Hennigh, geological advisor to strategic shareholder Crescat Capital commented, “Immediately following the impressive drill results indicating that Surebet is a significant new discovery, the project has delivered very strong metallurgical results. This test work clearly indicates the potential for a low capital, low operating cost milling operation at the Golddigger Project. Importantly, the use of conventional gravity and flotation to recover precious and base metals means that the use of cyanide may not be required here, providing a potentially large environmental benefit. The high proportion of gravity recoverable Au means that the project should be able to produce doré ingots on site. Most of the remaining Au and Ag will be captured in a low-mass, precious-metal-rich Pb concentrate that should be readily marketable. In short, the Surebet project exhibits enviable metallurgical qualities rarely found in precious metals mining.”
CONCLUSION: The exceptionally positive metallurgical results add an important piece of the puzzle to the overall picture of the Surebet discovery. Even at a very early stage, a development scenario is emerging for Goliath with relatively low capital and operating costs for processing at Golddigger.
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