Magnetic Resources Achieves Strong Gold Recoveries at Lady Julie North 4 Project

2 min read | December 05, 2024 12:53 PM AEDT | By Team Kalkine Media

Magnetic Resources Achieves Strong Gold Recoveries at Lady Julie North 4 Project — Image source: Shutterstock

Details of Metallurgical Testing

The metallurgical testing program was conducted on seven composites, five of which underwent conventional gravity and CIL (carbon-in-leach) leaching. The remaining two included additional steps of flotation and fine grinding of the flotation concentrate (float cons), resulting in a 4-8% improvement in gold recovery for Fresh Core and Fresh South samples.

The Fresh Core composite, consisting largely of deeper underground material extending up to one kilometer downdip, showed promising results, although further work is required to optimize recovery from this segment.

This round of tests followed earlier metallurgical work conducted in January 2024, which demonstrated that LJN4's mineralization was suitable for conventional gravity and leach processing methods. Mid-2024 testing expanded the scope with larger samples and deeper material from 46 drill holes.

Additional Insights

In addition to strong gold recoveries, the recent tests revealed no evidence of preg-robbing—a phenomenon where gold is absorbed by carbonaceous material during processing, reducing recovery rates. This finding further validates the project’s potential for efficient gold extraction.

Market Response and Next Steps

As of 11:19 AEDT, Magnetic Resources' shares were trading at AU$1.33, reflecting a 2.31% increase since market opening.

Magnetic Resources plans to conduct additional testing to optimize recovery methods for the Fresh Core material and evaluate its potential for larger-scale production. These steps are expected to solidify the project’s prospects and support future development initiatives.

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