Cangold has declared that metallurgical testwork has progressed to a pre-feasibility level for Ixhuatan Gold-Silver Project located in Chiapas, Mexico.
At SGS Lakefield, Canada, Phase 1 of the metallurgical testing is composed of a scoping level gold recovery test program in order to outline the process flowsheet. Recoveries at a range of 82%-93% were indicated by testwork results. The average grade collected from the SGS Lakefield for four drill samples was 2.77g/t gold.
Robert Archer, Cangold's President and CEO, stated that this is a positive development for the Ixhuatan Project. The recoveries were higher compared to the previous testwork, and the prospect of getting more than 90% of recoveries augers well for the project.
Utilizing a composite sample of material, Phase 2 metallurgical testing has been started to equate gold recoveries for three alternative gold recovery flowsheets. In addition, the operations include testwork for abrasion and grindability of all the four samples. The Phase 2 program is likely to be completed in 8 to 10 weeks.
Plant and tailings design work will be guided at the pre-feasibility level. A formal pre-feasibility study with National Instrument 43-101 report is scheduled to begin in September 2012 when appropriate professional engineers are in place. Both timeframe and expenditure of the pre-feasibility work will be calculated.
At the Ixhuatan Project, the Campamento Deposit includes National Instrument 43-101 compliant mineral resource consisting of 17.6 million tonnes at average grades of 7.79g/t silver and 1.84 g/t gold in the Indicated and Measured categories and 21.8 million tonnes at average grades of 3.23 g/t silver and 1.01 g/t gold in the Inferred category. The company is receiving 75% interest in the Ixhuatan project.
Source: http://www.cangold.ca/s/Home.asp
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