$69 postpage LB

PNX Metals Identifies New Pathway To Enhance Gold And Silver Recoveries From Hayes Creek Project

  • April 09, 2019 02:15 PM AEST
  • Team Kalkine
PNX Metals Identifies New Pathway To Enhance Gold And Silver Recoveries From Hayes Creek Project

PNX Metals Limited (ASX: PNX) which was earlier known as Phoenix Copper Limited is a mining and exploration company primarily focused on precious and base metals. The company’s main focus is to progress on the Hayes Creek zinc-gold-silver project. It is also conducting brownfield and greenfield exploration in the Northern Territory with 4 mineral leases and 19 exploration licences from 4 wholly owned tenements

On 9th April 2019, the company announced that it has discovered a new process to materially increase gold and silver recoveries from the Iron Blow volcanogenic massive sulphide (VMS) deposit. Hayes Creek zinc-gold-silver project which is situated in the Pine Creek region of the Northern territory is comprised of Fountain Head gold prospect, Mt Bonnie VMS deposit and Iron Blow.

The definitive feasibility study (DFS) will incorporate the recently completed optimisation test work as a new unit process which is designed to capture additional gold and silver from the Iron Blow float tails. Without this new unit process, this additional gold and silver would remain locked in the mineral lattice and therefore remain unrecoverable.

A newly trialled reagent (a substance used for chemical analysis) which specifically targeted the residual gold and silver in the rougher tails passed its first result of improved recoveries to a scavenger concentrate by 26.6% gold and 19.9% silver. This scavenger concentrate stream was then subjected to three hydrometallurgical processes (A technique involving aqueous chemistry for the recovery of metals from ores) which are intense cyanidation, ferric oxidation and pressure oxidation for extraction of gold and silver.

Out of the above mentioned three processes, intense cyanidation has achieved additional recoveries of precious metals to solution and then to doré of at least 10.7% gold and 17.0% silver. This is approximately equal to 13koz of gold and 1Moz silver over the life of mine at Iron Blow. This could potentially help the company to get a new revenue stream for the project.

Intense cyanidation has also the lowest capital requirement and operating cost. These costs typically only relate to minimal power and reagent usage and still needs to be finalised for incorporation in DFS. In Intense cyanidation process, high cyanide concentrations are applied to continuously leach the sulphides for an extended period of time to drive the gold/silver extraction from the solids into a liquor stream which is then electrowon to produce a gold/silver doré.

Hayes Creek DFS update

A successful Pre-Feasibility Study (PFS) was conducted in July 2017. This PFS confirmed that the Hayes Creek Project is a favourable future high margin and low-cost zinc and precious metal mine that could help the company to create significant value for its shareholders. After this PFS success, DFS has re-commenced on the Hayes Creek Project. DFS is also expected to find opportunities to improve mine life, increase confidence in all aspects of the project and improve project economics.

On the technical front, the stock traded flat on ASX at A$0.006 as of 9th April 2019, (AEST: 1:01 PM). The last six months return of the stock is negative 33.3% while YTD return stands at negative 14.2%.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Gold MTF non-AMP

 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK