Canadian company St Eugene Mining Corporation Limited saw its shares on the Toronto Venture Exchange rising by ten cents on this Monday as gold and silver recovery results from its Saskatchewan project came in.
There has been more than 90% recovery from its Amisk gold project in north eastern Saskatchewan. The project is a joint venture with Claude Resources.
St Eugene hold 35% of stake in the Amisk project and Claude Resources is the operator of the mine who holds the remaining stake. The metallurgical test work done demonstrated that the recovery of gold would be 90% and silver would be 93% from the property using cyanidation with carbon-in-pulp technology.
CEO and President, Jennifer Boyle said that these positive metallurgical results speak to the quality of the resource at the Amisk Gold Project, but more importantly, they demonstrate that gold and silver recoveries can be successfully achieved with simple conventional leaching processes.
The testing was performed on three composite samples from high grade, average grade and low grade ore. They weighed a total of 217 kilograms and were selected from diamond drill core collected during the 2011, 2010 and historic drill programs. Metallurgical and grinding mill engineering test work was conducted by Inspectorate Metallurgical Division of Richmond, British Columbia.