The feed grade for bulk processing was 7.9 grams per tonne of gold and 39 grams of silver with a relatively coarse material fed into the plant.
Even so, 90% of sulphides contained in the ore were have been recovered using simple spiral and shaking table circuits.
Scotgold reckons around 75% of the gold can be turned into a sulphide concentrate, while the remainder will require retreatment in the final plant.
The trial has also shown the company is able to produce a by-product lead sulphide that is “potentially saleable”.
The company wants to produce enough gold to assess the “marketability and profitability “of a hallmarked Scottish gold production from Cononish.
It has appointed a firm of consultants it has used before called The Dragonfly Initiative to manage this process.
CEO Gray told investors: "We are extremely pleased with the way the bulk processing trial circuit is performing metallurgically as well as in terms of reliability and ease of operation.
“The results achieved indicate we may be able to enhance the design of the final full scale (phase II) plant, both in terms of recovery and operating cost.
“Work has now commenced on the feasibility of a phased development approach, which will benefit from the experience gained in conducting the bulk processing trial.”