Mega Precious Metals Provides Positive Initial Results from Its Metallurgical Test Program for Gold & Tungsten Process Develo...
24 Marzo 2014 - 3:57PM
Marketwired
Mega Precious Metals Provides Positive Initial Results from Its
Metallurgical Test Program for Gold and Tungsten Process
Development
THUNDER BAY, ONTARIO--(Marketwired - Mar 24, 2014) - Mega
Precious Metals Inc. (TSX:MGP) ("Mega" or the "Company") is pleased
to announce that bench scale metallurgical testing has been
initiated on representative core samples from the Twin Lakes
deposit. A metallurgical process has been identified for the
production of gold and the co-production of tungsten and is
currently being optimized for a preliminary economic
assessment.
The deposit has been classified into two discrete zones for
metallurgical testing purposes with definition of "gold zones" and
"gold-tungsten zones". Representative sampling of core has
indicated that gold is present as free gold and is also associated
with sulfide and non-sulfide mineralization. Tungsten occurs
predominately as free scheelite grains in quartz carbonate veins
that are within a broad brecciated gold-tungsten zone (see press
releases February 20, 2014, January 16, 2014). Composite samples of
drill core for the metallurgical test program contained 2.27
g/tonne gold with 0.021% w/w tungsten (as WO3) in the gold zone and
1.32 g/tonne gold with 0.42% w/w tungsten (as WO3) in the
gold-tungsten zone. Highlights of the initial metallurgical results
include:
- Bench scale testing indicates that 95% of the gold is recovered
by bulk sulfide - gold flotation for the gold zone, to achieve a
concentrate containing 40 to 50 g/tonne gold. Work remains ongoing
on subsequent oxidative and cyanide leach stages to recover gold
from the float concentrate.
- For the gold-tungsten zone, gold is expected to be first
floated with the bulk sulfide float, followed by subsequent
treatment of the tails to recover tungsten.
- Work remains ongoing on both gravity separation and flotation
for recovery of tungsten from the gold-tungsten zone. Initial
gravity separation test work has been completed on six discrete
tungsten feed size ranges. This showed a peak recovery for tungsten
of 87%, based on a concentrate grade of 2.0% WO3 in the particle
size range of 20-250 microns through gravity separation. This
result is not a proxy for whole ore gravity separation but shows
significant gravity recovery potential for tungsten. Tungsten
flotation will be utilized to optimize overall tungsten
recoveries.
Glen Kuntz, P. Geo, President and CEO of Mega stated that
"We are very pleased to have a complete preliminary
characterization of the gold zone mineralization and preliminary
metallurgical tests to define a technically viable process which
will produce a gold dore bar and co-produce tungsten concentrates
from both ore zones at the Twin Lakes deposit. Relative to other
tungsten ore types, the Twin Lakes deposit has a unique ore
composition and metal separation characteristics for competitive
processing, relative to processing cost and product purity. We are
now in a position to continue with metallurgical process
development test programs to define the process design for
industrial scale gold and tungsten recoveries and related
gold-equivalencies for the upcoming preliminary economic
assessment."
Since October of 2013, Thibault & Associates
Inc.("Thibault") of Fredericton, New Brunswick have been working
under contract with Mega to develop a metallurgical process
tailored to the Twin Lakes deposit. In addition to development test
programs and design of processing systems for gold metallurgical
and hydrometallurgical processing, Thibault has developed process
systems for various tungsten ore deposits in Canada, South America,
Europe and Vietnam for the production of tungsten (both scheelite
and wolframite concentrates), ammonium paratungstate (for tungsten
carbide production) and tungsten chemicals.
The preliminary process flow sheet is as follows:
http://media3.marketwire.com/docs/935104a.pdf
Various conventional process technologies for the development of
the Twin Lakes processing facility has been identified by Thibault.
The current bench scale metallurgical test program is focused on i)
bulk sulfide - gold flotation for primary separation of tungsten
and gold, ii) processing of the bulk sulfide - gold concentrate by
hydrometallurgical process technology for the production of a gold
dore bar and iii) co-production of tungsten concentrate by a
gravity-flotation process technology.
Processing technology has been identified for processing
run-of-mine ore from the gold ore zone and the gold-tungsten zone
as independent feed to a processing facility. Bulk sulfide - gold
flotation is used to recover gold from either ore zone and a fully
integrated gold - cyanide hydrometallurgical process is used to
process the bulk sulfide - gold concentrate which is recovered from
both ore zones. Bench scale testing that 95% of the gold is
recovered by bulk sulfide - gold flotation from the gold zone, to
achieve a concentrate containing 40 to 50 g/ tonne gold. Direct
leaching of the bulk sulfide - gold concentrate with cyanide has
indicted that a fine grind and pre-oxidation (prior to a cyanide
leach) of the bulk sulfide concentrate is required to maximize gold
extraction and recoveries. Bench scale tests are in progress to
optimize leach recovery with results expected to be released in Q2
2014.
The separation of gold in the gold-tungsten zone sample has been
achieved by bulk sulfide - gold flotation. Low levels of tungsten
report to the gold sulfide float leaving the tails as feed for
tungsten concentration steps.
Preliminary tests have identified that the upgrading of tungsten
in the bulk sulfide - gold flotation tails can be achieved with
gravity separation and/or tungsten flotation. Tungsten concentrate
produced from the gravity release test is illustrated for each size
fraction as shown in Figure 1 to 3. As a follow up to the bulk
sulfide - gold flotation and the gravity release tests, gravity and
tungsten flotation tests are in progress to optimize tungsten
recoveries. The flow sheet has been designed with a target to
produce a commercially saleable tungsten concentrate with a grade
of 65% WO3.
Based on the tungsten liberation characteristics of the Twin
Lakes deposit, tungsten flotation has been identified as the
primary unit operation for the production of tungsten concentrates.
Treatment of the ore prior to tungsten flotation using gravity
separation is under review to improve on the production costs -
relative to a reduction in tungsten flotation reagent consumption.
Bench scale tests are also in progress to optimize on tungsten
(scheelite) flotation operating parameters, relative to the Twin
Lakes deposit.
Preliminary bench scale metallurgical tests completed to date
have identified a clear process development strategy for the
Monument Bay Gold - Tungsten project. Further work is in progress
with results expected late Q2 2014.
To view Figure 1-3, please visit the following link:
http://file.marketwire.com/release/935104b.pdf
Qualified person:
J. Dean Thibault, P.Eng., Senior Process Chemical Engineer and
Principal of Thibault & Associates Inc., located in
Fredericton, New Brunswick, is acting as a Qualified Persons in
compliance with National Instrument 43-101 with respect to the
metallurgical bench scale process development test program and
process flowsheet design information contained in this release and
has reviewed the contents for accuracy.
Mega Precious Metals Inc. is a leading Canadian-based
exploration company with a high quality pipeline of projects
located in the mining friendly jurisdictions of Manitoba,
Northwestern Ontario and Nunavut. The Company's significant
portfolio includes the flagship Monument Bay Gold Tungsten Project
in NE Manitoba as well as the N. Madsen Gold Project in the
prolific gold mining district of Red Lake, Ontario. Mega has
established a record of delivering rapid growth through their
focused and low cost approach to exploration and resource
development. The Company's common shares trade on the TSX Venture
Exchange under the symbol MGP.
Forward-looking Statements
Certain statements in this press release relating to the
Company's exploration activities, project expenditures and business
plans are "forward-looking statements" within the meaning of
securities legislation. The Company does not intend, and does not
assume any obligation, to update these forward-looking statements.
These forward-looking statements represent management's best
judgment based on current facts and assumptions that management
considers reasonable. The Company makes no representation that
reasonable business people in possession of the same information
would reach the same conclusions. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. In particular, fluctuations in the
price of gold or in currency markets could prevent the Company from
achieving its targets. Readers should not place undue reliance on
forward-looking statements. More information about risks and
uncertainties affecting the Company and its business is available
in Mega Precious Metal's filings which are posted on sedar at
www.sedar.com.
There is no guarantee that drill results reported in this
news release will lead to the identification of a deposit that can
be mined economically, and further work is required to identify a
reserve or resource.
Neither 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 release.
Mega Precious Metals Inc.Glen Kuntz, P.Geo.President, Chief
Executive Officer & DirectorO: 807-766-3380 or TF:
877-592-3380info@megapmi.comwww.megapmi.com
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