REG - Condor Gold PLC - Metallurgical Test Results for La India Open Pit
04/08/2022 07:00
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RNS Number : 8391U Condor Gold PLC 04 August 2022
4 August 2022
Condor Gold plc
("Condor", "Condor Gold" or the "Company")
Condor Announces Feasibility Study Level Metallurgical Test Results for La India Open Pit
Condor Gold (AIM: CNR; TSX: COG) is pleased to announce that it has received
the final results of metallurgical tests for a Feasibility Study (FS) being
conducted on the La India Open Pit from Bureau Veritas Laboratories in
Richmond, British Columbia. The most recent iteration of testing was focused
on variability testing and confirmation of recoveries at the lower grades. The
2022 FS Study (the "FS" or "Feasibility Study") will bring the level of
confidence for the Project to the industry-standard of engineering design,
sufficient to support +/- 15% capital and operating cost estimates.
Highlights of Feasibility Study Metallurgical Test Results
· The confirmatory testwork demonstrated that gold recovery is
independent of grade and a fixed gold recovery of 91% assuming a 75 micron
grind size will be used in the project economics of the forthcoming
Feasibility Study.
· Gold extraction from the 11 variability composites averaged 92.6% at
the 75 micron grind size, which is reduced by 2% to allow for gold being
locked up in the processing plant.
· Gold extraction from the four low grade composites averaged 93.8% at
the 75 micron target grind, indicating a gold recovery of 91.8% after a 2%
reduction to allow for gold being locked up in the processing plant.
· At a finer grind size of 53 microns an average gold extraction of
94.7% was achieved, indicating a potential upside gold recovery of about 93%.
· The selection of the composites by both grade and approximate year of
production provides confirmation that the mill recovery will not be materially
affected over the life of the La India Mine.
Mark Child, Chairman and Chief Executive of Condor Gold, commented:
"I am delighted that a net metallurgical recovery of 91% will be used in the
technical economic models for the forthcoming Feasibility Study on the La
India Open pit. Very comprehensive metallurgical test-work has been conducted
to the highest standards as a Feasibility Study level is the technical
document to which project finance is provided to the Project. 91%
metallurgical recovery over the life of mine is a terrific result and
represents a significant de-risking of one of the most important variables in
the development of a new mine at La India Project and provides significant
comfort to investors.
The application of both variability testing and confirmation of low-grade
responses is consistent with best practices in the mining industry, while
confirming the ability of the processing plant to achieve excellent recoveries
down into the lower grade portions of the deposit, in a standard
Carbon-in-Pulp cyanidation plant.
The higher gold recovery at 53 micron-grinds suggests an opportunity to
recover an additional 2% of the contained gold from the La India material".
Background
During August of 2021 in preparation for the FS, Condor assembled eleven
further variability composites from La India Open Pit, testing high grade,
medium grade and low-grade composites as well as composites selected to
represent individual phases and production years. Additional composites were
selected to test responses of the lower grade ores (below 1.5 g/t Au) to
ensure that the recovery parameters previously applied were valid at the lower
grade ranges. This work was conducted by Bureau Veritas Laboratories (BV) in
Richmond, British Columbia.
Discussion - Leaching Studies
The 2022 studies were conducted as a confirmation and check of earlier
leaching test results obtained in December 2021, and to extend Condor's
understanding of the response of the mineralized material at smaller grind
sizes and lower grade ranges.
The variability test results are summarized below in Table 1.
Condor notes that the results of the current BV results are consistent with
the results from the PFS study in 2014, which indicated a fixed gold recovery
of 91%. It is notable that the current design parameters at a 75 micron
grind support a total retention time of 48 hours versus the 30-hour retention
time nominated in the PFS.
Table 1: Summary of Leach Test Results for 2022 Bureau Veritas - 11
Variability Composites
100 Micron Summary - 11 Variability Composites
Sample ID Actual P80 Size Measured Head* Calculated Head 48h Extraction
mm Au (g/t) Ag (g/t) Au (g/t) Ag (g/t) Au (%) Ag (%)
High Grade Var Comp 103 5.16 12.67 5.43 14.20 88.74 64.79
Medium Grade Var Comp 99 1.76 9.00 2.29 9.33 87.65 57.11
Low Grade Var Comp 99 0.89 4.00 1.18 3.89 91.72 48.65
Starter Pit North Var Comp 98 1.84 10.33 2.77 10.01 90.32 60.03
Starter Pit South Var Comp 101 2.95 12.67 3.92 13.63 87.30 63.32
Phase 2 - Year 4 Var Comp 98 3.44 10.33 4.85 11.23 92.00 64.38
Phase 2 - Year 5 Var Comp 101 4.32 7.67 4.93 8.29 91.25 63.82
Phase 2 - Year 6 Var Comp 105 5.25 7.00 6.10 7.13 90.58 57.95
Phase 3 - Year 6 Var Comp 102 1.92 5.00 2.25 6.03 90.58 50.22
Phase 3 - Year 7 Var Comp 98 1.90 4.00 2.48 4.27 91.21 53.16
Phase 3 - Year 8 Var Comp 99 2.65 6.00 3.58 5.49 91.73 63.59
Average 100 2.92 8.06 3.62 8.50 90.28 58.82
75 Micron Summary - 11 Variability Composites
Sample ID Actual P80 Size Measured Head* Calculated Head 48h Extraction
mm Au (g/t) Ag (g/t) Au (g/t) Ag (g/t) Au (%) Ag (%)
High Grade Var Comp 75 5.16 12.67 5.35 13.43 92.64 70.21
Medium Grade Var Comp 73 1.76 9.00 2.32 12.87 90.42 45.61
Low Grade Var Comp 74 0.89 4.00 1.11 3.99 93.79 49.82
Starter Pit North Var Comp 73 1.84 10.33 2.84 11.51 94.03 65.25
Starter Pit South Var Comp 73 2.95 12.67 3.83 14.07 89.93 64.47
Phase 2 - Year 4 Var Comp 73 3.44 10.33 4.16 10.79 94.10 62.93
Phase 2 - Year 5 Var Comp 72 4.32 7.67 4.86 8.21 92.37 63.46
Phase 2 - Year 6 Var Comp 72 5.25 7.00 6.13 7.55 92.46 60.26
Phase 3 - Year 6 Var Comp 78 1.92 5.00 2.17 5.30 93.01 62.27
Phase 3 - Year 7 Var Comp 78 1.90 4.00 2.54 4.29 93.07 53.34
Phase 3 - Year 8 Var Comp 77 2.65 6.00 3.70 5.76 93.54 65.29
Average 74 2.94 8.27 3.53 9.20 92.58 59.76
53 Micron Summary - 11 Variability Composites
Sample ID Actual P80 Size Measured Head* Calculated Head 48h Extraction
mm Au (g/t) Ag (g/t) Au (g/t) Ag (g/t) Au (%) Ag (%)
High Grade Var Comp 54 5.16 12.67 5.61 13.11 94.57 77.11
Medium Grade Var Comp 68 1.76 9.00 2.28 7.90 91.63 74.67
Low Grade Var Comp 55 0.89 4.00 1.15 4.13 95.96 51.58
Starter Pit North Var Comp 52 1.84 10.33 3.04 10.99 95.37 72.70
Starter Pit South Var Comp 52 2.95 12.67 3.87 13.82 93.55 71.07
Phase 2 - Year 4 Var Comp 54 3.44 10.33 4.22 10.32 95.62 70.94
Phase 2 - Year 5 Var Comp 54 4.32 7.67 4.60 7.57 95.53 73.60
Phase 2 - Year 6 Var Comp 52 5.25 7.00 6.02 7.61 95.12 60.56
Phase 3 - Year 6 Var Comp 55 1.92 5.00 2.15 5.38 94.83 62.85
Phase 3 - Year 7 Var Comp 54 1.90 4.00 2.64 4.49 95.64 55.43
Phase 3 - Year 8 Var Comp 56 2.65 6.00 3.59 5.84 95.19 65.77
Average 55 3.06 8.74 3.66 8.98 94.69 68.34
* Measured Head is determined prior to the leach testing as determined from a
split of the initial sample. Calculated head is based on the sum of the
assays of both the leach solutions and of the residue. Calculated head is
considered the more reliable measure of the contained gold and recovery.
Condor and its consultants also recognized the lack of metallurgical testing
at the lower grade ranges, particularly at the break-even and marginal cutoff
ranges. While not a significant contributor to overall project economics,
the stockpiling of low and even sub-grade material offers the opportunity for
capturing additional ounces at the end of mine- life. This recognition
initiated the secondary investigation on the low-grade material.
The results of the low-grade investigations are presented in Table 2 below:
Table 2: Low Grade Recovery at 75 micron
Low Grade Composites - 75 micron target grind
Sample ID Actual P80 Size Measured Head* Calculated Head 48h Extraction
mm Au (g/t) Ag (g/t) Au (g/t) Ag (g/t) Au (%) Ag (%)
Condor 0.5 78 0.48 3.00 0.59 3.10 93.49 35.53
Condor 0.75 82 0.74 3.00 0.86 3.75 94.96 46.66
Condor 1.5 78 1.23 4.67 1.55 4.97 93.08 59.79
Condor 2.0 70 1.81 6.00 2.32 5.65 93.48 64.58
Average response 77 1.06 4.17 1.33 4.37 93.75 51.64
- Ends -
For further information please visit www.condorgold.com
(http://www.condorgold.com/) or contact:
Condor Gold plc Mark Child, Chairman and CEO
+44 (0) 20 7493 2784
Beaumont Cornish Limited Roland Cornish and James Biddle
+44 (0) 20 7628 3396
H&P Advisory Limited Andrew Chubb and Nilesh Patel
+44 (0) 20 7907 8500
BlytheRay Tim Blythe, and Megan Ray
+44 (0) 20 7138 3204
About Condor Gold plc:
Condor Gold plc was admitted to AIM in May 2006 and dual listed on the TSX in
January 2018. The Company is a gold exploration and development company with a
focus on Nicaragua.
On 25 October 2021 Condor announced the filing of a Preliminary Economic
Assessment Technical Report ("PEA") for its La India Project, Nicaragua on
SEDAR https://www.sedar.com (https://www.sedar.com) . The highlight of the
technical study is a post-tax, post upfront capital expenditure NPV of US$418
million, with an IRR of 54% and 12 month pay-back period, assuming a US$1,700
per oz gold price, with average annual production of 150,000 oz gold per annum
for the initial 9 years of gold production. The open pit mine schedules have
been optimised from designed pits, bringing higher grade gold forward
resulting in average annual production of 157,000 oz gold in the first 2 years
from open pit material and underground mining funded out of cashflow.
In August 2018, the Company announced that the Ministry of the Environment in
Nicaragua had granted the Environmental Permit ("EP") for the development,
construction and operation of a processing plant with capacity to process up
to 2,800 tonnes per day at its wholly-owned La India gold Project ("La India
Project"). The EP is considered the master permit for mining operations in
Nicaragua. Condor has purchased a new SAG Mill, which has mainly arrived in
Nicaragua. Site clearance and preparation is at an advanced stage.
Environmental Permits were granted in April and May 2020 for the Mestiza and
America open pits respectively, both located close to La India. The Mestiza
open pit hosts 92 Kt at a grade of 12.1 g/t gold (36,000 oz contained gold) in
the Indicated Mineral Resource category and 341 Kt at a grade of 7.7 g/t gold
(85,000 oz contained gold) in the Inferred Mineral Resource category. The
America open pit hosts 114 Kt at a grade of 8.1 g/t gold (30,000 oz) in the
Indicated Mineral Resource category and 677 Kt at a grade of 3.1 g/t gold
(67,000 oz) in the Inferred Mineral Resource category. Following the
permitting of the Mestiza and America open pits, together with the La India
Open Pit Condor has 1.12 M oz gold open pit Mineral Resources permitted for
extraction.
Disclaimer
Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.
Qualified Persons
The technical review of the SGS metallurgical results has been conducted by
Eric Olin, a principal consultant with SRK Consulting (U.S. Inc., who is a
registered member of SME and a "qualified person" as defined by NI 43-101. Mr.
Olin has over 40 years' experience in extractive metallurgy including
extensive experience with CIP and CIL gold extraction plants. Eric Olin is a
full time employee of SRK Consulting (U.S.) Inc., an independent consultancy,
and has sufficient experience which is relevant to the style of mineralization
and type of deposit under consideration. Eric Olin consents to the inclusion
in the announcement of the matters based on their information in the form and
context in which is appears and confirms that this information is accurate and
not false or misleading.
The technical and scientific information in this press release has been
reviewed, verified and approved by Gerald D. Crawford, P.E. who is a
"qualified person" as defined by NI 43-101.
Technical Information
Certain disclosure contained in this news release of a scientific or technical
nature has been summarised or extracted from the technical report entitled
"Technical Report on the La India Gold Project, Nicaragua, October 2021",
dated October 22, 2021 with an effective date of September 9, 2021 (the
"Technical Report"), prepared in accordance with NI 43-101. The Qualified
Persons responsible for the Technical Report are Dr Tim Lucks of SRK
Consulting (UK) Limited, and Mr Fernando Rodrigues, Mr Stephen Taylor and Mr
Ben Parsons of SRK Consulting (U.S.) Inc. Mr Parsons assumes responsibility
for the MRE, Mr Rodrigues the open pit mining aspects, Mr Taylor the
underground mining aspects and Dr Lucks for the oversight of the remaining
technical disciplines and compilation of the report.
Forward Looking Statements
All statements in this press release, other than statements of historical
fact, are 'forward- looking information' with respect to the Company within
the meaning of applicable securities laws, including statements with respect
to: the Mineral Resources, Mineral Reserves and future production rates and
plans at the La India Project. Forward-looking information is often, but not
always, identified by the use of words such as: "seek", "anticipate", "plan",
"continue", "strategies", "estimate", "expect", "project", "predict",
"potential", "targeting", "intends", "believe", "potential", "could", "might",
"will" and similar expressions. Forward-looking information is not a guarantee
of future performance and is based upon a number of estimates and assumptions
of management at the date the statements are made including, among others,
assumptions regarding: future commodity prices and royalty regimes;
availability of skilled labour; timing and amount of capital expenditures;
future currency exchange and interest rates; the impact of increasing
competition; general conditions in economic and financial markets;
availability of drilling and related equipment; effects of regulation by
governmental agencies; the receipt of required permits; royalty rates; future
tax rates; future operating costs; availability of future sources of funding;
ability to obtain financing and assumptions underlying estimates related to
adjusted funds from operations. Many assumptions are based on factors and
events that are not within the control of the Company and there is no
assurance they will prove to be correct.
Such forward-looking information involves known and unknown risks, which may
cause the actual results to be materially different from any future results
expressed or implied by such forward-looking information, including, risks
related to: mineral exploration, development and operating risks; estimation
of mineralisation, resources and reserves; environmental, health and safety
regulations of the resource industry; competitive conditions; operational
risks; liquidity and financing risks; funding risk; exploration costs;
uninsurable risks; conflicts of interest; risks of operating in Nicaragua;
government policy changes; ownership risks; permitting and licensing risks;
artisanal miners and community relations; difficulty in enforcement of
judgments; market conditions; stress in the global economy; current global
financial condition; exchange rate and currency risks; commodity prices;
reliance on key personnel; dilution risk; payment of dividends; as well as
those factors discussed under the heading "Risk Factors" in the Company's
annual information form for the fiscal year ended December 31, 2018 dated
March 22, 2019, available under the Company's SEDAR profile at www.sedar.com
(http://www.sedar.com/) .
Although the Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking information, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such information will prove to be
accurate as actual results and future events could differ materially from
those anticipated in such statements. The Company disclaims any intention or
obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise unless required by law.
Technical Glossary
Abrasion Index
The Bond Abrasion Test determines the Abrasion Index, which is used to
determine steel media and liner wear in crushers, rod mills, and ball mills.
Bond developed correlations based on the wear rate in pounds of metal wear/kWh
of energy used in the comminution process. Higher values indicate more
abrasive rock.
Calculated Head
Calculated Head is an assay determined following the metallurgical leach
testing and is based on the sum of the assays of both the leach solutions and
of the residue, and is considered the more reliable measure of the contained
gold and recovery (as compared to the Measured Head).
Carbon-in-Pulp (CIP) or Carbon in Leach (CIL)
A metallurgical process for extracting gold by leaching gold from the
pulverized host rock with a cyanide solution. Gold is subsequently adsorbed
onto activated charcoal for later recovery.
Measured Head
Measured Head is an assay determined prior to the metallurgical leach testing
as determined from a split of the initial sample to be subjected to a leach
test. It may vary from the calculated head. Calculated head is based on
the sum of the assays of both the leach solutions and of the residue, and is
considered the more reliable measure of the contained gold and recovery.
Mineral Resource
Mineral Resources are sub-divided, in order of increasing geological
confidence, into Inferred, Indicated and Measured categories. An Inferred
Mineral Resource has a lower level of confidence than that applied to an
Indicated Mineral Resource. An Indicated Mineral Resource has a higher level
of confidence than an Inferred Mineral Resource but has a lower level of
confidence than a Measured Mineral Resource.
A Mineral Resource is a concentration or occurrence of solid material of
economic interest in or on the Earth's crust in such form, grade or quality
and quantity that there are reasonable prospects for eventual economic
extraction.
The location, quantity, grade or quality, continuity and other geological
characteristics of a Mineral Resource are known, estimated or interpreted from
specific geological evidence and knowledge, including sampling.
Material of economic interest refers to diamonds, natural solid inorganic
material, or natural solid fossilized organic material including base and
precious metals, coal, and industrial minerals.
The term Mineral Resource covers mineralization and natural material of
intrinsic economic interest which has been identified and estimated through
exploration and sampling and within which Mineral Reserves may subsequently be
defined by the consideration and application of Modifying Factors. The phrase
'reasonable prospects for eventual economic extraction' implies a judgment by
the Qualified Person in respect of the technical and economic factors likely
to influence the prospect of economic extraction. The Qualified Person should
consider and clearly state the basis for determining that the material has
reasonable prospects for eventual economic extraction. Assumptions should
include estimates of cutoff grade and geological continuity at the selected
cut-off, metallurgical recovery, smelter payments, commodity price or product
value, mining and processing method and mining, processing and general and
administrative costs. The Qualified Person should state if the assessment is
based on any direct evidence and testing.
Interpretation of the word 'eventual' in this context may vary depending on
the commodity or mineral involved. For example, for some coal, iron, potash
deposits and other bulk minerals or commodities, it may be reasonable to
envisage 'eventual economic extraction' as covering time periods in excess of
50 years. However, for many gold deposits, application of the concept would
normally be restricted to perhaps 10 to 15 years, and frequently to much
shorter periods of time.
Inferred Mineral Resource
An Inferred Mineral Resource is that part of a Mineral Resource for which
quantity and grade or quality are estimated on the basis of limited geological
evidence and sampling. Geological evidence is sufficient to imply but not
verify geological and grade or quality continuity.
An Inferred Mineral Resource has a lower level of confidence than that
applying to an Indicated Mineral Resource and must not be converted to a
Mineral Reserve. It is reasonably expected that the majority of Inferred
Mineral Resources could be upgraded to Indicated Mineral Resources with
continued exploration.
An Inferred Mineral Resource is based on limited information and sampling
gathered through appropriate sampling techniques from locations such as
outcrops, trenches, pits, workings and drill holes. Inferred Mineral Resources
must not be included in the economic analysis, production schedules, or
estimated mine life in publicly disclosed Pre- Feasibility or Feasibility
Studies, or in the Life of Mine plans and cash flow models of developed mines.
Inferred Mineral Resources can only be used in economic studies as provided
under NI 43-101.
There may be circumstances, where appropriate sampling, testing, and other
measurements are sufficient to demonstrate data integrity, geological and
grade/quality continuity of a Measured or Indicated Mineral Resource, however,
quality assurance and quality control, or other information may not meet all
industry norms for the disclosure of an Indicated or Measured Mineral
Resource. Under these circumstances, it may be reasonable for the Qualified
Person to report an Inferred Mineral Resource if the Qualified Person has
taken steps to verify the information meets the requirements of an Inferred
Mineral Resource.
Indicated Mineral Resource
An Indicated Mineral Resource is that part of a Mineral Resource for which
quantity, grade or quality, densities, shape and physical characteristics are
estimated with sufficient confidence to allow the application of Modifying
Factors in sufficient detail to support mine planning and evaluation of the
economic viability of the deposit.
Geological evidence is derived from adequately detailed and reliable
exploration, sampling and testing and is sufficient to assume geological and
grade or quality continuity between points of observation.
An Indicated Mineral Resource has a lower level of confidence than that
applying to a Measured Mineral Resource and may only be converted to a
Probable Mineral Reserve. Mineralization may be classified as an Indicated
Mineral Resource by the Qualified Person when the nature, quality, quantity
and distribution of data are such as to allow confident interpretation of the
geological framework and to reasonably assume the continuity of
mineralization. The Qualified Person must recognize the importance of the
Indicated Mineral Resource category to the advancement of the feasibility of
the project. An Indicated Mineral Resource estimate is of sufficient quality
to support a Pre-Feasibility Study which can serve as the basis for major
development decisions.
Mineral Reserve
Mineral Reserves are sub-divided in order of increasing confidence into
Probable Mineral Reserves and Proven Mineral Reserves. A Probable Mineral
Reserve has a lower level of confidence than a Proven Mineral Reserve.
A Mineral Reserve is the economically mineable part of a Measured and/or
Indicated Mineral Resource. It includes diluting materials and allowances for
losses, which may occur when the material is mined or extracted and is defined
by studies at Pre-Feasibility or Feasibility level as appropriate that include
application of Modifying Factors. Such studies demonstrate that, at the time
of reporting, extraction could reasonably be justified. The reference point at
which Mineral Reserves are defined, usually the point where the ore is
delivered to the processing plant, must be stated. It is important that, in
all situations where the reference point is different, such as for a saleable
product, a clarifying statement is included to ensure that the reader is fully
informed as to what is being reported.
The public disclosure of a Mineral Reserve must be demonstrated by a
Pre-Feasibility Study or Feasibility Study.
Mineral Reserves are those parts of Mineral Resources which, after the
application of all mining factors, result in an estimated tonnage and grade
which, in the opinion of the Qualified Person(s) making the estimates, is the
basis of an economically viable project after taking account of all relevant
Modifying Factors. Mineral Reserves are inclusive of diluting material that
will be mined in conjunction with the Mineral Reserves and delivered to the
treatment plant or equivalent facility. The term 'Mineral Reserve' need not
necessarily signify that extraction facilities are in place or operative or
that all governmental approvals have been received. It does signify that there
are reasonable expectations of such approvals.
'Reference point' refers to the mining or process point at which the Qualified
Person prepares a Mineral Reserve. For example, most metal deposits disclose
mineral reserves with a "mill feed" reference point. In these cases, reserves
are reported as mined ore delivered to the plant and do not include reductions
attributed to anticipated plant losses. In contrast, coal reserves have
traditionally been reported as tonnes of "clean coal". In this coal example,
reserves are reported as a "saleable product" reference point and include
reductions for plant yield (recovery). The Qualified Person must clearly state
the 'reference point' used in the Mineral Reserve estimate.
Master Composite
A testing sample comprised of multiple sub-samples taken from multiple
locations within an area of a deposit. This is a common practice when
individual samples are of insufficient size for a minimum sample requirement
for metallurgical tests. Source sub-samples are selected to represent specific
mineralization types or specific areas within a deposit.
Probable Mineral Reserve
A Probable Mineral Reserve is the economically mineable part of an Indicated,
and in some circumstances, a Measured Mineral Resource. The confidence in the
Modifying Factors applying to a Probable Mineral Reserve is lower than that
applying to a Proven Mineral Reserve.
The Qualified Person(s) may elect, to convert Measured Mineral Resources to
Probable Mineral Reserves if the confidence in the Modifying Factors is lower
than that applied to a Proven Mineral Reserve. Probable Mineral Reserve
estimates must be demonstrated to be economic, at the time of reporting, by at
least a Pre-Feasibility Study.
Pre-Feasibility Study (Preliminary Feasibility Study)
The CIM Definition Standards requires the completion of a Pre-Feasibility
Study as the minimum prerequisite for the conversion of Mineral Resources to
Mineral Reserves.
A Pre-Feasibility Study is a comprehensive study of a range of options for the
technical and economic viability of a mineral project that has advanced to a
stage where a preferred mining method, in the case of underground mining, or
the pit configuration, in the case of an open pit, is established and an
effective method of mineral processing is determined. It includes a financial
analysis based on reasonable assumptions on the Modifying Factors and the
evaluation of any other relevant factors which are sufficient for a Qualified
Person, acting reasonably, to determine if all or part of the Mineral Resource
may be converted to a Mineral Reserve at the time of reporting. A
Pre-Feasibility Study is at a lower confidence level than a Feasibility Study.
Relative Density / Specific Gravity
The weight of a given volume of material expressed as a ratio of the density
of water. A specific gravity of 2.50 would indicate that a cubic meter of the
material would weigh 2.5 metric tonnes.
SAG Mill Work Index - Short for Semi-Autogenous Grinding - (A x b) - The SAG
Mill Work Index is a measure of the resistance of material to grinding in a
SAG mill.
It can be used to determine the grinding power required for a given throughput
of material under SAG mill grinding conditions.. The index has no units.
Higher values indicate better performance through a SAG mill.
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