Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Bullboard - Stock Discussion Forum Maritime Resources Corp V.MAE

Alternate Symbol(s):  MRTMF

Maritime Resources Corp. is a Canada-based gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador. The Company holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property which includes the former Hammerdown gold mine and the Orion gold... see more

TSXV:MAE - Post Discussion

Maritime Resources Corp > Gold Concentrate From Aggregates Wash plant
View:
Post by nozzpack on Oct 19, 2024 8:35am

Gold Concentrate From Aggregates Wash plant

Gravity circuits fall into two categories, the first being closed circuit (regrind) and the second being open circuit applications (tailings, cyclone overflow, flotation concentrates etc.).

Each application must have its own operating strategy with corresponding equipment selection and configuration based on target GRG characteristics.

I am sure that the Open gravity circuit which will soon be installed to recover gold fines from crushed aggregates from Shorelines wash plant has been efficiently configured because of the gravity circuit installed at the Pine Cove mill.

I assume that the fines recovery from the wash plant will be a single pass.
This should be sufficient as the aggregates being washed have been ground to a very small size .

Gold recovery from a gold concentrator of mined ore is in the form of a gold concentrate grading about 80-85% gold ...see NFG mettalurgical results.

However gold concentrate should have a higher grade when from a wash plant as the fines are already separated and with a weight 6 times that of granite, gravity fallout should result in a gold concentrate of 90% or more gold.

This can be immediately milled at little cost as a gold dore....see picture of gold dore on MAE web site.

I can only guesstimate the amount of gold that will be recovered from Shorelines wash plant until we see the initial output results.

Previously, I asssumed 500,000 tons of crushed aggregate per year ...just 50% of the 1 million ton output.
I also assumed an average grade of just 0.5 grams per ton which computes to 250,000 grams per year which is about 8000 ounces per year, split 50/50 with Shoreline .

So, about 4000 ounces in gold dores net to Maritime.

This is almost all free cash as the system is a passive collector requiring minimal operating costs.

So, a very coarse estimate at current POG of about $6-7$ million CAD per year net to Maritime.

Longer term, should Dundee fund the develoment of Deer Coves Talc aggregate project which has gold as a by product credit, the gravity circuit will be doing double duty.

And, if Shoreline arranges with Firefly to secure its waste ore as aggregates containing signifucant amounts of gold at  high volumes,  than you begin to see just how shrewd this gravity circuit is as a passive gold producer for Maritime.

Given the above info, it's just a matter of time, given Shorelines multiple operating advantages , that Shoreline is fully integrated into Maritime .
Be the first to comment on this post