Chaarat Gold Holdings Ltd (AIM:CGH) said a Bio-oxidation (BIOX) metallurgical test programme on its Kyzyltash gold project in the Kyrgyz Republic confirmed that the ore is recoverable through three potential processing routes.
The AIM-quoted gold miner said first-phase recoveries for BIOX averaged 84-96% using flotation, BIOX, and carbon in leaching.
The BIOX results exceeded the previously announced first-stage recoveries from the pressure oxidation (POX) and Albion processing methods which averaged 80-90%, it added.
READ: Chaarat Gold reports strong metallurgical test results on its Kyzyltash gold project
The BIOX process oxidises sulphide minerals and exposes gold to recovery by cyanidation, thereby increasing the achievable gold recovery, the company explained.
Further investigation and variability testing will be performed on all three processing options to confirm the first-stage results before final test results and an economic trade-off study will determine the preferred processing option, it added.
“The economic trade-off study will allow us to understand the economic impact of these strong results and confirm the preferred processing route," said Charaat chief executive Mike Fraser in a statement.
He also noted that the BIOX results were significantly higher than a 2016 study which achieved recoveries of 77%.
Chaarat confirmed yesterday that it was early-stage discussions regarding a possible offer for East Africa-focused gold producer Shanta Gold Limited (AIM:SHG, OTC:SAAGF). Shanta today released further details about the three bid approaches it revealed on Tuesday.