• Three PQ sized metallurgical holes have been completed, two in the higher-grade Polymetallic (Ag-Zn-Pb) Domain Type and one in the higher-grade Tin (Sn-Ag-Pb) Domain Type with core shipped to Wardell Armstrong International (WAI) in Cornwall
• The Polymetallic Domain Type metallurgical testwork will focus on the predominant sulphide domain, while confirmatory testwork on the less predominant oxide domain is planned potentially using “sulphidizing” float conditions as required.
• The Tin Domain Type metallurgical testwork will focus on the predominant surface oxide domain only with a view to produce a lead-silver concentrate via the same flowsheet developed for the Polymetallic Domain Type mentioned above. Tin Recovery will not be part of the formal PEA deliverable, but its recovery will be tracked for future reference and use.
• Core will be crushed and sized into -60mm+25mm, -25mm+9.5mm and -9.5mm+0.85mm by WAI the +9.5mm products will be shipped to TOMRA in Germany for cascade “XRT ore-sorting” tests, whilst the -9.5mm+0.85mm will be tested using heavy liquids to further identify the amenability of the ore to Dense Media Separation (“DMS”)  with further PEA metallurgical tests to be completed on the -0.85mm material and pre-concentrated products from the aforementioned test work.
• Definition drill program in progress will focus on expanding the higher-grade Polymetallic Domain mineral resource, which as previously reported contains an inferred mineral resource of 132 million tonnes at 24.3 g Ag/t, 1.11% Zn and 0.50% Pb at an NSR cutoff of $US25/t for a net NSR value of US$34.40 based on a cutoff grade of US$9.20/t.
• This higher-grade resource is included within the much larger inferred mineral resource in the Polymetallic Domain Type (Ag-Zn-Pb) of 541 million tonnes grading 13.6 g Ag/t, 0.69% Zn and0.28% Pb with an NSR value of US$20.32/t at an NSR cut-off of US$9.20/t. It is envisaged that this resource will be bulk mined in an open pit to minimise mining operating costs, with the run-of-mine feed then pre-concentrated to remove waste dilution.
• The Tin Polymetallic Domain Type (Sn-Pb-Ag) which has an inferred mineral resource of 110 million tonnes grading 0.12% Sn, 0.14% Pb and 14.2 g Ag/t with an NSR value of US$12.22/t at an NSR cut-off of US$6.00/t is very under drilled and is a major exploration target going forward.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

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Disclosure

At the time of writing the author holds shares in Eloro Resources.