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Cavalier moves ahead with onsite processing at Crawford, reboots PFS
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With Cavalier having now determined it can generate very high gold recoveries, more quickly and at lower-than-expected costs than the industry standard, the company will restart the pre-feasibility study at its Crawford project.
Cavalier Resources (ASX:CVR) has paved the way for the restart of the pre-feasibility study at its Crawford gold project, having cemented onsite heap leaching as the ideal processing option for the emerging mining operation.
Earlier this week, the company revealed extremely high gold recoveries of up to 92.5% with rapid extraction rates and shorter field leach cycles than is norm for the industry, and at lower than usual costs for heap leaching.
The results have provided Cavalier with further confidence in the mine-ability of the Crawford gold resource and the decision to consider onsite ore processing.
Executive Technical Director Daniel Tuffin told Stockhead this means Cavalier does not have to rely on other mills in the broader Leonora region to treat the Crawford ore.
“This enables us to independently seek a mining contractor and then independently process material ourselves. It makes us self-reliant,” he said.
“We paused the pre-feasibility study to assess what was going on in the greater area and have a look at other options, and we determined onsite heap leaching is the best way forward.
“While our near-resource exploration efforts will continue, these exceptional column leach results provide us with the opportunity to examine what we hope will be the first stage of mining gold at Crawford.”
Importantly, Cavalier expects the PFS to be completed quickly, given the substantial amount of work already done prior to the company making the decision to pause it.
“With prior work already undertaken, the company should be in a favourable position to complete the study within a relatively short timeframe,” Tuffin said.
“We expect the PFS to be completed early in the first quarter of 2024.
“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.
“Our ultimate goal remains to become a self-funded explorer, aligning with our company’s corporate plan since listing just 15 months ago.”
This story was developed in collaboration with Cavalier Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
