Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) (the
"Company" or "Western Exploration") is pleased to
announce the results of 2024 metallurgical testing on composite
samples from the Jarbidge rhyolite hanging wall zone of the Gravel
Creek deposit.
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Figure 1: Location of 2023 PQ Oriented
core holes at Gravel Creek. (Graphic: Business Wire)
Highlights from the work include:
- Locked-cycle flotation tests indicate recoveries of 94.8% for
gold and 89.8% for silver in a combined gravity and flotation
concentrate.
- The combined gravity and flotation concentrate were 10.9% of
the feed weight and averaged 57.1 g/t Au, 1,725 g/t Ag.
- The flotation concentrate averaged 29.1% sulphide sulphur.
- Gravity concentration before rougher flotation concentration
(from the gravity tailings) recovered 22.4% of the Gold and 4.4% of
the silver in 0.16% of the total feed weight with a gold grade of
920 g/t and a silver grade of 5,750 g/t.
Western Exploration CEO, Darcy Marud said, "Preliminary
metallurgical test work on Gravel Creek hanging wall mineralization
has returned very positive results for the recovery of gold and
silver to concentrate. The recoveries are similar to past Gravel
Creek metallurgical test work and demonstrate a potential path to
economic recovery for precious metals."
2024 Flotation Metallurgy Sample Locations
Flotation test work was conducted on a gold and silver bearing
diamond drill composite from core holes WG456 and WG457, drilled in
2023 in the Jarbidge rhyolite. The two oriented core holes were
completed to evaluate resource expansion potential in mineralized
vein/breccia trends northeast of the Gravel Creek resource
(Figure 1).
- Hole WG456, located 250 meters northeast of the Gravel Creek
resource area, reported individual assays up to 34.9 g/t Au and
2800.0 g/t Ag as reported in a Company news release dated November
21, 2023.
- Hole WG457, located 140 meters northeast of the Gravel Creek
resource area, reported individual assays up to 257.0 g/t Au and
1655.0 g/t Ag as reported in a Company news release dated January
8, 2024.
- The composite was comprised of sulphide mineralization
collected from samples ranging in downhole depths of 316 meters to
731 meters in WG456 and WG457.
Flotation Program and Results
All test work was completed by McClelland Laboratories, Inc
(“MLI”) of Sparks, Nevada. Flotation testing was conducted
on a gold and silver bearing Gravel Creek drill core composite,
designated 4991-001, to evaluate response to flotation processing.
The composite comprised sulphidic mineralization ranging from 316
meters to 731 meters downhole depths from two drill holes (WG456
and WG457).
Composite assays showed that it contained 6.14 g/t Au, 206 g/t
Ag and 2.71% sulphide sulphur. Cyanide shake analysis showed that
the sample had cyanide soluble to fire assay ratios (CN/FA) of
53.4% for gold and 36.8% for silver. The composite contained
negligible amounts (<0.1%) carbon. A preg-rob assay showed that
it was not preg-robbing.
Initially, six rougher flotation tests were conducted at feed
sizes ranging from 80%-150 micron to 80%-45 micron. A typical bulk
sulphide flotation collector reagent suite was employed for all
tests. Following grind optimization testing, a bulk rougher
concentrate was produced and used for preliminary cleaner flotation
testing. The objectives for the testing were to maximize gold and
silver recovery and concentrate grades. Sulphide sulphur recoveries
were also tracked during testing. Variability in flotation tail
grade caused significant variability in flotation gold
recoveries.
Flotation testing showed that the Gravel Creek mineralization
responded very well to bulk sulphide flotation treatment. Gold and
silver recoveries of as high as >92% were achieved with rougher
flotation mass pulls of approximately 11%, Table 1 and
Figure 2.
Table 1. - Flotation Concentration Test
Results, Test F-5, Gravel Creek Composite 4991-001, 80%-75-micron
Feed Size
Wt.
Cum. Wt.
Assay
Au Distribution
Ag Distribution
S= Distribution
Product
%
%
Au g/t
Ag g/t
% S=
%
Cum. %
%
Cum. %
%
Cum. %
Ro. Conc. Stg. 1 (0-2 min)
4.1
4.1
95.5
3,360
28.07
57.0
57.0
64.0
64.0
42.9
42.9
Ro. Conc. Stg. 1 (2-5 min)
2.3
6.4
54.1
1,480
28.96
18.1
75.1
15.8
79.8
24.8
67.7
Ro. Conc. Stg. 2
2.3
8.7
47.4
1,010
22.17
15.8
90.9
10.8
90.6
19.0
86.7
Ro. Conc. Stg. 3
0.9
9.6
22.2
546
12.73
2.9
93.8
2.3
92.9
4.3
91.0
Ro. Conc. Stg. 4
0.6
10.2
12.4
306
7.42
1.1
94.9
0.9
93.8
1.7
92.7
Ro. Conc. Stg. 5
0.4
10.6
7.0
206
3.81*
0.4
95.3
0.4
94.2
0.6
93.3
Ro. Tail
89.4
100.0
0.36
14
0.20
4.7
100.0
5.8
100.0
6.7
100.0
Composite
100.0
6.87
215
2.68
100.0
100.0
100.0
* Insufficient sample was available for
sulphide assay. The average of the adjacent product grades was
used.
Preliminary cleaner flotation testing showed that it was
possible to significantly increase concentrate grades by cleaning.
Cleaner concentrate grades of as high as >70 g/t Au, >3,900
g/t Ag and 41% sulphide sulphur were achieved.
Regrinding the rougher concentrate for as much as 90 minutes
resulted in production of a cleaner concentrate that was 3.2% of
the ore weight, assayed 72.4 g/t Au, 3,920 g/t Ag and 41.07%
sulphide sulphur and represented recoveries of 35.9% gold, 59.6%
silver and 49.2% sulphide sulphur. The corresponding cleaner tail
was another 7.4% of the feed weight, assayed 40.6 g/t Au, 898 g/t
Ag and 16.04% sulphide sulphur and represented additional
recoveries of 46.5% gold, 31.5% silver and 44.4% sulphide sulphur,
Table 2.
Table 2. - Rougher/Cleaner Flotation
Concentration Test Results, Gravel Creek Composite 4991-001, 4991
F-6 Rougher Concentrate, 90 min Regrind of Ro. Conc.
Wt.
Cum. Wt.
Assay
Au Distribution
Ag Distribution
S= Distribution
Product
%
%
Au g/t
Ag g/t
% S=
%
Cum. %
%
Cum. %
%
Cum. %
Cl. Conc.
3.2
3.2
72.4
3,920
41.07
35.9
35.9
59.6
59.6
49.2
49.2
Cl. Tail
7.4
10.6
40.6
898
16.04
46.5
82.4
31.5
91.1
44.4
93.6
Ro. Tail
89.4
100.0
1.27
21
0.19
17.6
100.0
8.9
100.0
6.4
100.0
Composite
100.0
6.46
211
2.67
100.0
100.0
100.0
A gravity concentration test was conducted on tailings from one
of the flotation tests to evaluate causes for variability in
flotation tail grade. Results showed that most (77%) of the gold
contained in the flotation rougher tail sample was gravity
recoverable. The gravity concentrate produced was 0.07% of the
flotation tail weight, assayed 2,250 g/t Au and represented 77.0%
of the gold contained in the flotation tailing.
Follow up locked-cycle flotation test work was conducted at an
80%-150 micron grind size on gravity tails generated from the
sample composite. Test results showed that the combined gravity and
flotation concentrate was 10.9% of the feed weight, assayed 57.1
g/t Au and 1,725 g/t Ag. Recoveries reporting to this combined
concentrate were 94.8% gold and 89.8% silver of the values
contained in the whole feed. The combined concentrate described
above included a gravity cleaner concentrate and flotation rougher
concentrate (from locked-cycle testing on the gravity tailing). The
gravity concentrate was 0.16% of the feed weight, assayed 920 g/t
Au and 5,750 g/t Ag and represented gold and silver recoveries of
22.4% and 4.4% respectively. The gravity concentrate was not
assayed for sulphide sulphur. The flotation concentrate was 10.74%
of the whole feed weight, assayed 44.3 g/t Au, 1,665 g/t Ag and
21.9% sulphide sulphur and represented gold and silver recoveries
of 72.4% and 85.4% respectively of values contained in the whole
feed weight.
Table 3. – Gravity/Flotation Test, Gravel
Creek Composite 4991-001, 80%-212-micron (Gravity Test G-2)/80%-150
micron Regrind (Locked Cycle Flotation Test F-9, average of Cycles
5&6)
Wt.
Cum. Wt.
Assay
Au Distribution
Ag Distribution
S= Distribution
Product
%
%
Au g/t
Ag g/t
% S=
%
Cum. %
%
Cum. %
%
Cum. %
Grav. Cl. Conc.
0.16
0.16
920
5750
N/A*
22.4
22.4
4.4
4.4
N/A
N/A
Flotation Ro. Conc.
10.74
10.90
44.3
1665
21.9
72.4
94.8
85.4
89.8
95.3
95.3
Flotation Ro. Tail
89.10
100.00
0.38
24
0.13
5.2
100.0
10.2
100.0
4.7
100.0
Composite
100.00
6.56
209
2.46
100.0
100.0
100.0
*N/A denotes Not Available
About the Aura Project
The 6,000-hectare Aura Project has established mineral resource
estimates in three different deposits (Doby George, Gravel Creek
and Wood Gulch), as reported in the "2021 Updated Resource
Estimates and Technical Report for the Aura Gold-Silver Project,
Elko County, Nevada" dated October 20, 2021 (with an effective date
of October 14, 2021) that was prepared for the Company by Mine
Development Associates (the "Technical Report"; see Table
4 below). The mineral resource estimates in the Technical
Report were established in accordance with National Instrument
43-101 – Standards of Disclosure for Mineral Projects ("NI
43-101").
In addition, the Aura Project has well established
infrastructure including year-round accessibility by highway and
county-maintained road and nearby access to water and electricity.
Western Exploration has exploration, development, and mining rights
on 930 hectares of privately owned land through a mineral lease
agreement with a local landowner and may purchase those fee lands
at any time for the development of Doby George.
Table 4. Mineral resource estimates for
the Aura Project as reported in the 2021 Technical Report.
MINERAL RESOURCE(1)
Indicated
Inferred
Tonnes
Au (g/t)
Au (ozs)
Ag (g/t)
Ag (ozs)
AuEq (g/t)
AuEq (oz.)
Tonnes
Au (g/t)
Au (ozs)
Ag (g/t)
Ag (ozs)
AuEq (g/t)
AuEq (oz.)
Doby George(2)
12,922,000
0.98
407,000
-
-
0.98
407,000
4,999,000
0.73
118,000
-
-
0.73
118,000
Wood Gulch(3)
-
-
-
-
-
-
-
4,359,000
0.66
93,000
5.80
808,000
0.74
104,543
Gravel Creek(4)
1,315,000
4.73
200,000
75.0
3,169,000
5.81
245,271
2,744,000
4.16
367,000
60.20
5,307,000
5.02
442,814
TOTAL
14,237,000
1.33
607,000
75.0
3,169,000
1.43
652,271
12,102,000
1.48
578,000
15.74
6,115,000
1.71
665,357
Notes:
(1)
Au equivalent oz assumes US$1,800
per oz Au and 70:1 ratio of Ag:Au.
(2)
Pit constrained 0.2 g/t AuEq
cutoff for oxide, 0.4 g/t Au cutoff for mixed and 1.4 g/t Au cutoff
for unoxidized.
(3)
Pit constrained 0.2 g/t AuEq
cutoff.
(4)
3.0 g/t Au cutoff.
See "Cautionary Statements Regarding Estimates of Mineral
Resources" below.
About Western Exploration
Western Exploration is focused on advancing the 100% owned
gold-silver Aura project, located approximately 120 kilometers/75
miles north of the city of Elko, Nevada. The project includes three
unique gold and silver deposits: Doby George, Gravel Creek, and
Wood Gulch.
Western Exploration is comprised of an experienced team of
precious metals experts that aim to lead the company to becoming
North America's premier gold and silver development company.
Additional information regarding Western Exploration and the
Aura Project can be found on the Company's website and on SEDAR+
(www.sedarplus.ca) under the Company's issuer profile.
Qualified Person Approval
The scientific and technical information in this news release
has been reviewed and approved by Mark Hawksworth, General Manager
of the Aura Project, and Jack McPartland of MLI, each of whom is a
"qualified person" within the meaning of NI 43-101.
Quality Assurance / Quality Control
Exploration program design, Quality Assurance/Quality Control
("QA/QC") and the interpretation of results is performed by
qualified persons employing a QA/QC program consistent with NI
43-101 and industry best practices. For Western Exploration legacy
samples, standards and blanks and duplicates were generally
included approximately every 20th sample for QA/QC purposes by the
Company as well as the lab. Approximately 5% of sample pulps are
sent to secondary laboratories for check assay. QA/QC controls are
not fully documented for legacy assays from the 1980s and 1990s but
Mine Development Associates conducted rigorous evaluation of
adjacent assay intervals as part of the Technical Report resource
calculations. Please see below under the heading "Cautionary Note
Regarding Forward-Looking Information" for further details
regarding the risks facing Western Exploration.
Metallurgical Test Work
Interval Preparation and Assay: A total of 28 drill interval
samples, from the Gravel Creek deposit were received on January 18,
2024. Select samples from drill holes WG456 (ranging from 1,792.7'
to 2,397') and WG457 (ranging from 1,036.5' to 2,319.2') were used
for testing. The interval samples were previously crushed to a
nominal 2mm and weighed 0.3 to 7.3 kg each. Select samples (19)
were combined in entirety to produce Gravel Creek composite
4991-001.
The entire composite was stage crushed to just passing 1.7mm in
size. The -1.7mm composite was thoroughly blended and split to
obtain multiple 1.0 kg samples for testing and triplicate 0.25 kg
samples for head assay.
The composite was assayed directly in triplicate, using
conventional fire assay fusion procedures, to determine gold and
silver content. A single cyanide shake analysis was conducted, with
and without a “gold spike” leach solution (preg-rob test series).
Carbon and sulphur speciation analyses were conducted using
Leco/pyrolysis methods. A single multi-element ICP scan was
conducted.
Flotation Testing
A total of six rougher flotation tests were conducted on
composite 4991-001, at feed sizes ranging from 80%-150µm to
80%-45µm, to evaluate response to flotation and to optimize
flotation feed size. The tests were conducted using a bulk sulphide
flotation reagent scheme, designed to maximize recoveries of
sulphide minerals, gold and silver.
Initially, a scouter rougher flotation test was conducted on a 1
kg sample at an 80%-75µm feed size, to obtain preliminary
information concerning response of the ore to flotation treatment.
Based on those results, a series of three additional rougher
flotation tests (1 kg each) were conducted at feed sizes of
80%-150µm, 80%-106µm and 80%-45µm to optimize feed size. Based on
those test results, the 75µm feed size was selected for further
testing. A kinetic rougher flotation test was conducted at the 75µm
feed size, to establish the relationships between flotation time,
mass pull, rougher concentrate grade and recovery. A bulk flotation
test (16 kg) was conducted at the 75µm feed size to generate
rougher concentrate for cleaner flotation testing. Cleaner
flotation tests (3) were conducted on the resulting bulk rougher
concentrate to evaluate the potential for increasing concentrate
grade by regrinding and cleaner flotation.
The same reagent suite was used for all rougher flotation tests.
Flotation was conducted using a Denver laboratory scale flotation
unit at 1,200 rpm. Each ground pulp was slurried with grind water
to achieve 33% solids (wt/wt) and was conditioned for 5 minutes
with 0.25 kg/mt CuSO4∙5H2O.
Flotation was conducted in 5 stages with incremental additions
of 0.005 kg/mt ore of PAX (potassium amyl xanthate) and 0.010 kg/mt
AERO 208 (dithiophosphate) collectors at each stage. Respective
total addition of each reagent was 0.025 and 0.050 kg/mt ore.
AEROFROTH 65 was used as frother. The pulp was floated at natural
pH. For all rougher flotation tests, except for the kinetic test,
the 5 stages of concentrate were combined into a rougher
concentrate. Those rougher concentrates were dried, weighed and
assayed directly to determine gold, silver and sulphide sulphur
content.
The five staged rougher concentrate samples generated from the
kinetic flotation test (F-5) were each dried, weighed and assayed
separately for the same constituents.
In the case of the bulk (16 kg) rougher flotation test (F-6),
rougher flotation was conducted in two 8 kg lots, using a larger
flotation machine. The rougher concentrates produced from those two
tests were combined, dried, weighed and split to obtain three 0.5
kg samples for cleaner flotation testing and 0.2 kg for assay. The
combined rougher concentrate was assayed directly to determine
gold, silver and sulphide sulphur content. The rougher tails from
each 8 kg lot were dried, weighed and assayed separately, in
triplicate to determine gold silver and sulphide sulphur content
(one sulphide sulphur assay per 8 kg lot). Results presented for
rougher flotation test F-6 are based on the average of assay
results from the two 8 kg lots (designated F-6A and F-6B).
Cleaner flotation tests (3) were conducted on the rougher
concentrate generated from the bulk flotation test (F-6). The tests
were conducted on 0.5 kg splits of rougher concentrate after
regrinds of 1 minute (polish grind), 45 minutes and 90 minutes.
Cleaner flotation was conducted without additional collector or
promoter. Frother was added as required. The resulting cleaner
concentrates and cleaner tails were dried, weighed and assayed to
determine gold, silver and sulphide sulphur content.
For additional information on the Aura Project, please see the
Technical Report, which has been prepared in accordance with the
requirements of NI 43-101, a copy of which is available on SEDAR+
(www.sedarplus.ca) under Western Exploration's issuer profile and
on Western Exploration's corporate website
(www.westernexploration.com).
Cautionary Statements Regarding Estimates of Mineral
Resources
This news release uses the terms measured mineral resources,
indicated mineral resources, and inferred mineral resources as a
relative measure of the level of confidence in the resource
estimate. Readers are cautioned that mineral resources are not
mineral reserves and that the economic viability of mineral
resources that are not mineral reserves has not been demonstrated.
The mineral resource estimate disclosed in this news release may be
materially affected by geology, environmental, permitting, legal,
title, socio-political, marketing, or other relevant issues. It
cannot be assumed that all or any part of the inferred mineral
resources will ever be upgraded to the category of indicated
mineral resource or measured mineral resource. The mineral resource
estimate is classified in accordance with the Canadian Institute of
Mining, Metallurgy and Petroleum's "CIM Definition Standards on
Mineral Resources and Mineral Reserves" (CIM) incorporated by
reference into NI 43-101. Under NI 43-101, estimates of inferred
mineral resources may not form the basis of feasibility or
pre-feasibility studies or economic studies except for preliminary
economic assessments. Readers are cautioned not to assume that
further work on the stated resources will lead to mineral reserves
that can be mined economically.
Inferred mineral resources have a great amount of uncertainty as
to their existence and as to whether they can be mined legally or
economically. On October 31, 2018, the U.S. Securities and Exchange
Commission adopted new mining disclosure rules ("S-K 1300")
that are more closely aligned with current industry and global
regulatory practices and standards, including NI 43-101, although
there are some differences in the two standards. Accordingly,
information concerning mineral deposits contained in this release
may not be comparable with information made public by U.S.
companies that report in accordance with S-K 1300.
Cautionary Note Regarding Forward-Looking Information
This news release may contain "forward-looking information" and
"forward-looking statements" within the meaning of the applicable
Canadian and United States securities legislation (collectively,
"forward-looking statements"). These forward-looking statements, by
their nature, require the Company to make certain assumptions and
involve known and unknown risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in such forward-looking statements. Any statement that involves
predictions, expectations, interpretations, beliefs, plans,
projections, objectives, assumptions, future events or performance
(often, but not always, using phrases such as "expects", or "does
not expect", "is expected", "interpreted", "management's view",
"anticipates" or "does not anticipate", "plans", "budget",
"scheduled", "forecasts", "estimates", "potential", "feasibility",
"believes" or "intends" or variations of such words and phrases or
stating that certain actions, events or results "may" or "could",
"would", "might" or "will" be taken to occur or be achieved) are
not statements of historical fact and may be forward-looking
information and are intended to identify forward-looking
information. This news release contains the forward-looking
information pertaining to, among other things: the focus and
results of the surface exploration program; the accuracy of results
from prior exploration activities conducted at the Aura Project;
the key assumptions, parameters and methods used to estimate the
mineral resource estimate disclosed in this news release; the
prospects, if any, of the Doby George, Wood Gulch and Gravel Creek
mineral deposits; future drilling at the Aura Project; the
significance of historic exploration activities, results and data;
and the ability to expand the existing mineral resources at the
Aura Project. Such factors include, among others, risks relating to
the ability of exploration activities (including drill results) to
accurately predict mineralization; errors in management's
geological modelling; management's perceptions of historical
trends, current conditions and expected future developments; the
ability to realize upon geological modelling; the ability of
Western Exploration to complete further exploration activities,
including drilling; property and royalty interests in respect of
the Aura Project; the ability of the Company to complete and
publish a pre-feasibility study on the Aura Project and the timing
thereof (if at all); the ability to expand mineral resources beyond
current mineral resource estimates; the ability to identify mineral
reserves on the Aura Project (if at all); the ability of the
Company to obtain required approvals; the results of exploration
activities; risks relating to mining activities; the global
economic climate; metal prices; dilution; environmental risks; and
community and non-governmental actions. Although the
forward-looking information contained in this news release is based
upon what management believes, or believed at the time, to be
reasonable assumptions, Western Exploration cannot assure
shareholders and prospective purchasers of securities of the
Company that actual results will be consistent with such
forward-looking information, as there may be other factors that
cause results not to be as anticipated, estimated or intended, and
neither Western Exploration nor any other person assumes
responsibility for the accuracy and completeness of any such
forward-looking information. Western Exploration does not
undertake, and assumes no obligation, to update or revise any such
forward-looking statements or forward-looking information contained
herein to reflect new events or circumstances, except as may be
required by law.
For additional information with respect to these and other
factors and assumptions underlying the forward-looking statements
and forward-looking information made in this news release
concerning Western Exploration, please refer to the public
disclosure record of Western Exploration, including the management
information circular dated November 12, 2021 and the Company's most
recent annual and interim financial statements and related
management's discussion and analysis, which are available on SEDAR+
(www.sedarplus.ca) under Western Exploration's issuer profile. The
forward-looking statements set forth herein concerning Western
Exploration reflect management's expectations as at the date of
this news release and are subject to change after such date.
Western Exploration disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, other than as required
by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240920466506/en/
Darcy Marud Chief Executive Officer Telephone: (775) 329-8119
Email: dmarud@westernexploration.com Nichole Cowles Investor
Relations Telephone: (775) 240-4172 Email:
nicholecowles@westernexploration.com
Grafico Azioni WEX (NYSE:WEX)
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Da Nov 2024 a Dic 2024
Grafico Azioni WEX (NYSE:WEX)
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Da Dic 2023 a Dic 2024
