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NQ Minerals hails latest Hellyer production data

The base and precious metals project is located in Tasmania

NQ Minerals PLC -
The update was made ahead of the company’s presentation at the annual London Mines & Money gathering

NQ Minerals PLC (LON:NQMI) chairman David Lenigas said he “sees room for significant improvements through 2020” at the Hellyer base and precious metals project in Tasmania as the company reported that record lead and zinc concentrate production “continued”.

In all 55,422 tonnes of ore were unearthed in from November 1 to 23, with grades averaging 2.9% lead, 2.02% zinc, 2.29 grams per tonne (g/t) of gold and 88 g/t of silver.

Just over 2,000 tonnes of lead concentrate was produced at a 46.2% recovery, which contained a 4.6 g/t gold credit and 781 g/t silver.

Zinc concentrate weighed in at 2,006 tonnes at a recovery rate of just shy of 43% containing a silver credit of 193 g/t.

“Recoveries of Hellyer's two key outputs of lead and xinc concentrates continue to steadily improve and it is pleasing to see the plant operating at record concentrate production levels month to date,” said NQ chairman Lenigas.

“The company still sees room for significant improvements through 2020 as the project expands further."

The update was made ahead of the company’s presentation at the annual London Mines & Money gathering later Monday.

NQ’s Hellyer operation, which opened in the final quarter of last year, has a JORC-compliant mineral resource of 9.25mln tonnes at 2.57 g/t gold for 764,300 ounces of the yellow metal, 27.4mln ounces of silver, 276,600 tonnes of lead and 217,400 tonnes of zinc.

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Price: 6.75 GBX

Market: AQSE
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