Australian gold company Magnetic Resources (ASX:MAU) reports it has received positive metallurgical results from samples tested at the Lady Julie Central, and Lady Julie North 4 gold deposits, located within the Lady Julie Project in Western Australia.
The company says composite samples ranging from 27kg to 37kg were obtained from 1m intervals of reverse circulation (RC) drillholes selected to represent the oxidation type, rock type, and zone of mineralisation.
These samples were then processed by metallurgical testwork company Metallurgy in its Perth laboratory. Testwork conducted here comprised gravity concentration followed by cyanide leach testing at 3 grind sizes of 80% passing 150 micrometres (µm), 106µm, and 75µm.
Magnetic reports the overall gold recoveries range in this testing was 92.2% to 98.7%, with gravity concentration gold recoveries ranging from 35.3% to 75.1%.
Commenting on the results, Magnetic Resources Managing Director George Sakalidis says: “These preliminary metallurgical results are most encouraging, showing potential for good gold recoveries with low reagent consumption.
The high-gravity recoveries of up to 75% indicate the presence of coarse gold which could be expected to report to the gravity circuit and thus reduce overall leaching costs. These results are similar or better than those previously reported for the nearby HN9 gold resource.”
“The high-gravity recoveries of up to 75% indicate the presence of coarse gold which could be expected to report to the gravity circuit and thus reduce overall leaching costs”
The Lady Julie project is located adjacent to the Hawks Nest 9 tenement in the Laverton region of Western Australia covering a landholding of 7.1km-square. The company says the project is ‘strongly’ mineralised with 217 gold intercepts greater than 0.5g/t Au.
Magnetic Resources is an Australian gold company focused on its portfolio of projects covering 261km-square in the Laverton region of Western Australia. These projects include the Lady Julie, Hawks Nest, Homeward Bound South, and Julimar Lookalike projects.
The company says it is focused on discovering the next multi-million ounce deposit in the Laverton district by using ground magnetics, soil geochemistry, and ‘extensive’ shallow drilling.
Images: Magnetic Resources NL
