Conquest Mining (ASX: CQT) has received encouraging metallurgical results from recent flotation testwork at its Silver Hill project in northern Queensland.
The aim of the testwork was to determine whether a single “mixed” concentrate could be produced rather than the previously envisaged two-stream approach of producing a high-grade concentrate for sale and a lower-grade concentrate stored on site for potential, but not yet determined, later-stage processing.
Highlights of these results include recovery of 90% for gold, 91% for silver and 96% for copper. These results compare to the Definitive Feasibility Study (NYSE:DFS) estimates of 70% for gold, 64% for silver and 91% for copper.
The recoveries translated into a concentrate grade of 46 g/t Au, 346 g/t Ag, 6.2% Cu and 2.16% As. These grades are not materially different to the high-grade concentrate produced in the DFS. The mass pull ratio was approximately 9%.
The testwork was completed on a composite sample of 400kg made up from drill core samples across the V2 ore body that were considered representative of the average expected mining grades for V2.
The company's immediate priorities are now focused on completing variability testwork to determine whether the bulk sample result is representative of the entire ore body and to understand variability across the ore body and Determining whether a reliable, long-term off-take party can be identified for this concentrate.
To facilitate this, the company has appointed Charles Wang as the Marketing Manager. Wang previously had a senior role at the Sino Gold Mining Limited “Biogold” plant in Shandong Province in China, a plant that purchased and processed concentrate from both domestic and international customers.
Conquest Mining's shares rose 9% to 36 cents in trading this morning.
Disclosure: The author holds no positions in the company