Goldplat PLC Completion of Resource Estimate at Tailings Storage Facility
- Goldplat has built up a resource at its Tailings Storage Facility while treating material containing gold and other minerals since 2003 at its South African gold recovery operations.
- The company have now formally assessed the potential resource held within the Tailings Facility with a view to assessing the viability of reprocessing this material.
- A JORC compliant resource has been established totalling 1.2 Mt with a grade of 1.92 g/t gold and 2.77 g/t silver in the TSF and a further 0.23 Mt at 1.09 g/t gold and 2.66 g/t silver in the tailings footwall.
- This gives a total JORC resource of 1.43 Mt at 1.78 g/t gold containing 81,959 oz and 4.7 g/t silver containing 216,094 oz.
- Uranium oxide is also contained with the resource at a grade of 61.32 g/t containing 193,276 lbs.
- More detailed metallurgical test work will be done but it is estimated that a 15-20% recovery rate for gold can be achieved through a tailings circuit.
SP Angel Conclusion: This is good news for Goldplat giving them additional revenue stream. This is essentially a source of “free” material which can be processed through existing circuits. This will provide a boost to revenues in the South African operations and help at a time when the company is re-building profitability at its operations.
*SP Angel act as Nomad and Broker to Goldplat plc
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