Landore Resources Ltd (LON:LND) hailed the results of metallurgical testing on samples taken from its BAM East gold prospect at Junior Lake, Ontario.
Drill core material, in the form of two composites of 28 samples weighing a total of 67 kilograms, was submitted for analysis.
Combined gold recovery by gravity concentration followed by cyanidation leach extraction of the gravity tail averaged about 98% for both composites tested, Landore said.
Adding more detail on the potential for gravity recovery, the company said feed gold recovery to the pan concentrate ranged between 58% and 59% for composite 1 and composite 2.
Between 0.02% and 0.03% of the feed mass was recovered to the pan concentrates grading between 3,687 and 6,977 grams per tonne (g/t) gold.
The total weight of composite 1 was around 15 kilograms (kg). There was no recorded visible gold and the highest grade was 6.38 g/t gold.
The total weight of composite 2 was around 52 kilograms. There were six recorded sightings of visible gold and the highest grade was 17.35 g/t over one metre.
The full report with results has been posted on Landore's web site.
Landore said further extensive metallurgical testing for inclusion in the pre-feasibility study is scheduled to be completed by the third quarter of this year.
"These outstanding results, showing 98% recovery of gold using a simple combined gravity/leaching process, further supports our expectations that the exciting BAM East Gold deposit has the strong potential of low capex/opex costs amongst the lowest quartile of gold mining producers,” said Bill Humphries.
Shore Capital said the results from preliminary metallurgical test work at the BAM East Gold prospect in Canada were “very positive”.
“It appears that simple gravity concentration followed by cyanidation leaching of the gravity tails is able to yield combined gold recoveries of c.98%,” noted Shore’s Yuen Low.
“We look forward to further tests to determine whether similar recoveries can be achieved at higher grind sizes,” Low added.
Shares in Landore were up 5.9% at 3.52p towards the end of the day.