Magnetic’s preliminary metallurgical testing has proved that gold is readily recovered from ore sourced from Lady Julie project near Laverton, Western Australia.

Just simple gravity recovery is capable of recovering 35.3% and 75.1% of the gold present in the six composite samples taken from the Lady Julie Central and Lady Julie North 4 deposits.

Further highlighting that Magnetic Resources (ASX:MAU) will have a relatively easy time with processing should it proceed with a development at Lady Julie, the recovery rates jump to between 92.2% and 98.7% once leach recovery is added to the mix.

And if that wasn’t good enough, the testing has shown that only low to moderate consumption of cyanide and lime is required, which bodes well for a prospective project having lower reagent costs.

“These preliminary metallurgical results are most encouraging, showing potential for good gold recoveries with low reagent consumption,” managing director George Sakalidis said.

“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.”

Lady Julie potential

The amenability of Lady Julie mineralisation to gravity and leach processing is hugely positive when taken together with the potential for further growth to its current resource of 109,000oz of contained gold.

In December 2022, the company unveiled two intersections – 67m at 1.8 grams per tonne (g/t) gold from a down-hole depth of 101m and 56m at 1.52g/t gold from 92m – that not only end in mineralisation but are located outside the current resource envelope.

Along with their shallow mineralisation – a point shared with HN9 – Lady Julie Central and Lady Julie North 4 have all the hallmarks of an open-cuttable development with palatable costs.




This article was developed in collaboration with Magnetic Resources, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.