Cavalier Resources (ASX:CVR) is restarting the Prefeasibility Study (PFS) for its Crawford Gold Project in Western Australia following an internal review of results from recent column leaching testwork.
The testwork, carried out on the mineralised oxide portion of the Crawford gold resource, delivered ‘outstanding’ results, according to Cavalier.
High recoveries were returned, with peak values of 92.5% gold extraction.
Cavalier, which has a market capitalisation of $6 million, reports the testwork also showed ‘extremely’ rapid gold extraction times and low consumption rates.
The company says it will use onsite heap leaching as the processing method for Crawford’s re-booted PFS.
Cavalier Resources Executive Technical Director Daniel Tuffin says the testwork results validate the company’s decision to pause the PFS to review the potential of processing ore on site.
“Processing along the heap leach path not only enables us to evaluate the project as a standalone operation but also reduces our dependence on third-party processing.
With prior work already undertaken, the company should be in a favourable position to complete the study within a relatively short time frame.
Should the outcomes of the PFS yield the anticipated positive result, and given that the project is located on a granted mining lease, the company will be well-prepared to swiftly transition into production.”
“Should the outcomes of the PFS yield the anticipated positive result … the company will be well-prepared to swiftly transition into production“
The company says it’s now comprehensively assessing the evolving situation at Crawford.
The Crawford Gold Project sits centrally within Cavalier’s exploration and development projects, 20km east of Leonora.
Cavalier Resources is focused on its gold and nickel assets in Western Australia. As of 30 June 2023, the company had $1.944 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Cavalier Resources
