Email from IRI found Seema's email from 4/20 (copied below) helpful in better understanding the release from earlier the same day. Thought I would share for those of you who may not have seen it.
Expect another release within a couple weeks covering more of the outstanding holes.
Best,
JM
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I trust that you are keeping well in these challenging times!
I’m following up on Probe’s results from the metallurgical test work at the Val-d’Or East project announced this morning (press release attached).
Here are the important highlights from the press release:
- Above 50% Gravity Recoverable Gold and 95% overall gold recovery on most deposits
- All deposits amenable to treatment in a single processing facility
- Presence of coarse gold and negligible amounts of deleterious elements in composite samples from all deposits.
- All deposits responded extremely well to multiple pre-concentration methods, with potential to enhance project value
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- A grade-recovery curve calculated for all deposits to be used for the upcoming PEA
Recapping the key development milestones achieved to date as we advance the project towards the PEA:
· Strong geotechnical results demonstrating good rock stability; favourable environmental characteristics of host rocks
· Confirmation that all of the ores have not only high gravity and overall recoveries, but all can be processed together in one mill
· We have gone from a concept of multiple deposits feeding a central mill to actually demonstrating it with the metallurgical test work results.
· All deposits have the same type of response in Gravity and Leaching.
· Able to model most of the resource with a single grade-recovery curve/equation, with potential for future enhancements.
· Last but not least, an easier to process mineral resource. As our COO puts it “it would be difficult to find a mineral resource that was easier to process than what we have at Val-d’Or East”
What does this mean?
We have already proven the exploration potential of this area and its ability to host ounces and now, as we build confidence in those ounces, the project is looking even better from a development standpoint. Lower strip ratios, less costly waste rock storage, more efficient milling and reduced infrastructure costs are just a few of the benefits we are seeing from the development work. All these characteristics will provide initial cost savings during construction as well as add further value downstream during a production scenario and contribute to a more robust bottom line for the project.
What to expect next?
We are aiming to release an updated resource estimate in Q2, 2021, followed by our first PEA in Q3, 2021.
As always, please don’t hesitate to call/text/email me with your questions.
Have a great week, and stay safe!
Seema
Seema Sindwani, MBA, CFA