Carlyle Commodities Corp (CSE:CCC, OTCQB:CCCFF) told investors it has commenced a baseline metallurgical test work program on its Newton gold project in British Columbia.
The company said in a statement that it has sent five individual higher-grade samples from mineralized intercepts from the 2023 core to Base Metallurgical Labs for testing. The samples were taken from drill holes N23-89, N23-090 and N23-091 and individual samples may be tested as well as a composite bulk sample created from the five intercepts, it added.
Among the intercepts, drill hole N23-089 revealed 1.2 grams per tonne (g/t) gold and 2.56 g/t silver over 63 meters (m), while N23-091 showed 1 g/t gold and 3.47 g/t silver over 57m.
Carlyle said each sample will be coarse crushed, and a portion split for construction of the master composite. Base Metallurgical Labs will use a minimum of approximately 40 kilograms of the Master composite to complete the testing and the remaining material will be stored for possible future variability testing.
Test products will be assayed for gold and silver to indicate the amenability of gravity concentration. It has budgeted five whole ore leach tests to determine the gold extraction by leaching.
The company also announced that it intends to conduct a private placement financing to fund general working capital and its exploration efforts, with details of the financing to follow.
Carlyle Commodities is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Newton Project in the Clinton Mining Division of British Columbia.
Contact the author at stephen.gunnion@proactiveinvestors.com