TSX:SBI - Post Discussion
Post by
paco01 on Jan 31, 2024 7:00am
Trial mining license at Coringa renewed for further 3 years
This announcement today is much more than just a 3 year renewal of the existing trial mining license……major news is that it allows for the deployment of crusher/ore sorting facilities at Coringa. This will allow them to significantly enhance the gold grade in the ore before they truck it up to the Palito processing plant. Referring to their previous ore sorter testing results per 22nd June 2022 RNS where they achieved circa 20 gram/ton. https://www.lse.co.uk/rns/coringa-development-update-d5fho6ohq936ui1.html So if they are allowed to transport 50,000 Tons per year and they have got the grade up at circa 20 g/T before the transportation then the contained gold will be: 50,000 x 20 / 31 = 32,258 ounces. Allowing for a 80% recovery rate during the ore processing at the Palito Plant then you are looking at circa 25,000 ounces per year generated from Coringa Ore.
Be the first to comment on this post