The Preliminary Economic Assessment (PEA) level test-work was performed on the following three metallurgically significant mineralization types identified on the Property:
Based on the Company’s review of the historic work performed on the project by previous operators, and an analysis of the drill core produced during the Company’s recently concluded Phase I and Phase II drill programs, it is estimated that the QTZ, SRM and OXC mineralization types represent approximately 40%, 50% and 10% of the mineralized zone at the Pine Tree-Josephine deposit by estimated tonnage, respectively. Highlights from the batch metallurgical testing are as follows:
Locked cycle tests using a combination of gravity and flotation techniques are expected to further improve grades and/or recoveries on the SRM and QTZ composites.
The Company’s Interim President & CEO, Mr.
Further results from the metallurgical testing shall be released when they are received. As announced on
Summary Results of the Metallurgical Test Program
This PEA-level metallurgical test program was designed by the Company’s
Head Sample Analysis
Representative head samples of the three composites were analyzed and
the analysis for the elements of prime interest is listed below:
Samples from the SRM and QTZ composites were tested for hardness using the Bond Ball Mill Work Index test. The results at 12.3 kWh/tonne and 14.3 kWh/tonne for the SRM and QTZ samples, respectively indicate that the two mineralization types are medium-soft to medium in hardness.
Coarse Bottle Roll Cyanide Leach Tests
A 10-day bottle roll cyanide leach test on a 50kg minus 25mm (~1 inch) OXC composite sample was conducted. Results indicated that a gold recovery of 93%, and a silver recovery of 75%, was achieved. The leach kinetics plot indicated that higher recoveries may be achieved for residence times longer than 10 days. The results indicate that there is good heap leach potential for the OXC composite materials and in order to further investigate the heap leach characteristics, further testing such as a column heap leach, will be considered.
Batch rougher kinetics flotation tests using conventional flotation conditions and reagents were conducted on the SRM and QTZ composite samples at grind sizes of 80% passing 150 and 75 microns. The variation in grind size appeared to have minimal effect on the metallurgy or concentrate grade and recovery.
Batch rougher-cleaner flotation tests conducted on the two composite samples at a primary grind size of 80% passing 150 microns and a target regrind size of 35 microns indicated that overall third cleaner concentrate recovery for the SRM composite sample was 69% at a concentrate grade of 71 g/t gold, while the QTZ composite sample showed an overall third cleaner recovery of 80% for a cleaner concentrate grade of 214 g/t gold.
Gravity concentration tests were conducted on both SRM and QTZ composites using a laboratory centrifugal gravity separator at a grind size of 80% passing 150 microns. The results for the QTZ sample showed that a gravity cleaner concentrate recovery of 36% was achieved at a cleaner concentrate grade of 786 g/t (>25 oz/t) while a projected 50% of the gold was potentially recoverable into a cleaner gravity concentrate assaying ~310 g/t (~10 oz/t). The SRM sample showed a 13% gold recovery at a cleaner concentrate grade of 225 g/t (>7 oz/t) while a projected 30% of the gold was potentially recoverable into a cleaner gravity concentrate assaying 150 g/t (~5 oz/t).
Combination of Gravity & Flotation Tests
The SRM and QTZ composite samples were each ground to 80% passing 150 microns and subjected to a rougher-cleaner flotation preceded by a scalping centrifugal gravity separation stage where a cleaner gravity concentrate and a gravity tailings product were produced. A rougher-cleaner flotation test was subsequently conducted on gravity tailings using a target regrind size of 80% passing 30 microns.
The SRM composite sample achieved a combined gold recovery of 85.6% between the cleaner gravity concentrate and third cleaner flotation concentrate at a weighted average gold grade of 58 g/t (1.9 oz/t). The corresponding silver recovery for the combined concentrate was 69% at a grade of 30 g/t (1 oz/t). The gravity concentrate gold recovery was 7% at 230 g/t (>7.4 oz/t).
The QTZ composite sample achieved a combined gold recovery of 93.6% between the cleaner gravity concentrate and cleaner flotation concentrate at a weighted average gold grade of 139 g/t (4.5 oz/t). The corresponding silver recovery for the combined concentrate was 76% at a grade of 71 g/t (2.3 oz/t). The gravity concentrate gold recovery was 39% at 1,636 g/t (52.6 oz/t).
Qualified Persons (QPs), as defined under National Instrument 43-101 regulations, who are responsible for the technical content of this press release are as follows:
Metallurgical Content: Mr.
Geology and Other Content: Mr.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of California Gold contains statements that constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause California Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding planned exploration work on the Company’s Fremont Property, and the timing of the receipt of metallurgical test results by the Company as well as whether results can be released. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward looking statements. Any factor could cause actual results to differ materially from California Gold's expectations. California Gold undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, unless otherwise required by law.
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Chief Operating Officer
Chief Operating Officer