Premier Gold Mines (PG.TO) has updated the market on its ongoing metallurgical test work at the company’s 100% owned Hardrock gold deposit in Ontario. The update is quite positive, as the average head grade of the batches was 1.91g/t, which is roughly in line with the expectations. Cyanide consumption is quite low at just 0.1kg per tonne of ore, and the total gold recovery ranges between 85% and 92%, depending on the grinding size.
The metallurgical test work will be used as basis for the PEA on the Hardrock deposit which contains just over 7 million ounces of gold. We’re already looking forward to see the results of this PEA, which is expected to be published in Q1 2014.
> Click here to read the press release
Disclosure: The author has no position in Premier Gold but might initiate one. Please see our disclaimer for current positions.
