logo-loader

Aphrodite Gold delivers pre-feasibility study for gold project

Published: 15:30 27 Jun 2017 AEST

WA-Map-3---757
Aphrodite’s mineral resource is open at depth

Aphrodite Gold’s (ASX:AQQ) pre-feasibility study has enhanced the mining potential of its Aphrodite Gold Project, located 65 kilometres north of Kalgoorlie in the Eastern Goldfields of Western Australia.

The underground mineral resource estimate is now 2.9 million tonnes at 7 g/t gold for 663,000 ounces, an increase in grade and ounces from 4.6 g/t and 485,000 ounces respectively.

Aphrodite’s mineral resource is open at depth with strong mineralisation evident below 440 metres to a depth of at least 600 metres.

The company’s metallurgical testwork has established that oxide, transition and primary mineralisation can all be effectively processed for an overall metallurgical recovery of 86%.

Processing operating costs are estimated at $38 per tonne for conventional gravity + carbon in leach (CIL) and $53 per tonne incorporating pressure oxidation followed by CIL.

Aphrodite’s final pre-feasibility documentation of all technical, environmental, infrastructure and regulatory components are nearing completion.

The next stage of the company’s project evaluation is to carry out a definitive feasibility study (DFS) commencing in July.

The DFS is likely to take 6 to 9 months to complete at an estimated cost of circa $10 million.

Aphrodite’s key activities will include further drilling for metallurgical purposes and enhanced resource definition, environmental studies, legal and regulatory reviews.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

5 hours, 25 minutes ago