P2 Gold's Metallurgical Advancements: Boosting Gold, Silver, and Copper Recovery
P2 Gold Inc. Reports Increased Metal Recoveries
P2 Gold Inc. (NASDAQ: PGLD and OTCQB: PGLDF) has announced the results of its Phase 3 Metallurgical Program for the gold-copper Gabbs Project, showcasing impressive recoveries in gold, silver, and copper. This development comes as a significant turning point for the company's efforts in refining their recovery techniques.
Outstanding Results from the Gabbs Project
After an extensive leaching process spanning 115 days, the recoveries from the metallurgical program have surpassed those previously reported in the Preliminary Economic Assessment. The Phase 3 results indicate potential for higher profitability for the Gabbs Project. Comparisons reveal that notable increases have been seen in the recovery rates, with gold recoveries reaching 88.1%, silver at 81.6%, and copper at 66.5% after 115 days of testing.
Phase 3 Metallurgical Program Insights
The core focus of the Phase 3 Metallurgical Program was to enhance the leach kinetics and extraction rates. Joe Ovsenek, President & CEO of P2 Gold, shared insights on the program's efficiency, stating that the addition of cyanide during agglomeration has yielded remarkable improvement in metal recoveries. After the initial 58 days of leaching, 98% of gold, 90% of silver, and 85% of copper were recovered, pointing towards a successful strategy for metal extraction.
Expert Test Results
P2 Gold engaged Kappes, Cassiday & Associates (KCA) in Reno to ensure thorough testing and analysis in this program. The metallurgical test results are based on samples analyzed under rigorous conditions, facilitating an accurate reflection of the project's potential. As the company now prepares to update its economic assessments using these favorable recovery rates, the outlook for the Gabbs Project continues to brighten.
Future Prospects for P2 Gold
The upcoming report indicating updated recoveries is highly anticipated. Coupled with existing estimates, the Gabbs Project holds an internal rate of return of 56.5% and a net present value exceeding US$1.6 billion. This promising result aligns with the projected long-term viability of the project, revealing its capacity for successful mining operations over the coming years.
Qualified Person Statement
Ken McNaughton, Chief Exploration Officer at P2 Gold, is overseeing the integrity of this report, ensuring compliance with National Instrument 43-101 standards. His expertise plays a crucial role in projecting the company's goals and advancing the Gabbs Project.
About P2 Gold Inc.
P2 Gold is heavily invested in the development of its assets, focusing on the Gabbs Project within the Walker Lane Trend. With the recent economic assessments portraying positive outcomes, the company is poised for significant advancements in its mining operations. The presence of essential infrastructure, coupled with favorable site conditions, paves the way for continued exploration and resource extraction.
Frequently Asked Questions
What is the main focus of P2 Gold Inc.?
P2 Gold Inc. concentrates on advancing its gold-copper Gabbs Project to enhance metal recovery and economic viability.
What are the recent recoveries reported by P2 Gold?
Recent recoveries reported include 88.1% for gold, 81.6% for silver, and 66.5% for copper after 115 days.
Who conducted the metallurgical testing for P2 Gold?
Kappes, Cassiday & Associates conducted the metallurgical testing for P2 Gold to ensure precise and thorough assessments.
What is the internal rate of return for the Gabbs Project?
The Gabbs Project holds an impressive internal rate of return of 56.5% based on recent assessments.
What future updates can investors expect from P2 Gold?
Investors can anticipate updates regarding further metallurgical results and economic assessments as the Gabbs Project progresses.
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