Conventional processing technologies are all that Matador requires to enjoy high gold recoveries from its Cape Ray project in Canada.

The expanded metallurgical test work program on samples from the Central Zone and Window Glass Hill deposits achieved average gold and silver recoveries of 96 per cent and 68 per cent respectively using combined gravity and cyanide leach extraction.

Central Zone and Window Glass Hill account for about 90 per cent of the project’s resource of 840,000oz of gold at an average head grade of 2.6 grams per tonne (g/t).

Adding interest, cyanide consumption was lower than estimated in Matador Mining’s (ASX:MZZ) Scoping Study, indicating that there is potential for processing cost assumptions to be lowered in future, more detailed studies.

“These metallurgical results confirm that the material mineral resources so far defined at the Cape Ray Gold Project are amenable to conventional processing technologies and have the potential to deliver high gold recoveries under relatively modest conditions,” executive chairman Ian Murray said.

“In addition to the positive gold recovery results, optimisation work around the leaching process also indicates a further opportunity to reduce plant operating costs compared to those assumed previously.

“We plan to continue to build on this program of work so that a detailed geometallurgical/domain model can be developed and used in our ongoing study work, providing further confidence in the reported results.”

Future work programs

Matador notes that future metallurgical test work will use material from Isle aux Morts, the new Angus discovery and any other new discoveries identified in ongoing exploration programs.

These samples will be tested under the same optimal conditions for gravity recovery and cyanide leaching to confirm the preferred conditions for all material types.

Combined data from all the samples, supported by additional samples from Central Zone and Window Glass Hill, will be used to generate a geometallurgical/domaining model.




This article was developed in collaboration with Matador Mining, 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.