Chesapeake Gold Corp. (TSXV: CKG | OTCQX: CHPGF) has provided a metallurgical and mineralogical update for its Metates gold-silver project located in Durango State, Mexico.
Alan Pangbourne, CEO, commented, “We are very encouraged with the latest results from this phase of metallurgical testwork. A systematic, methodological approach individually testing several parameters under different conditions is being undertaken in 42 columns. The results have identified certain parameters that provide the conditions where the leach technology oxidizes mineralization at a faster rate than our previous testwork. Under these conditions, we believe the targeted oxidation curve will be achieved and provide the foundation for preparing the pre-feasibility study early next year.”
Since the company’s last update in September 2022 (NR04-2022), metallurgical work has continued to investigate various parameters to improve the oxidation rates of its sulphide leach technology. The focus has included investigating several ways to accelerate the oxidation kinetics and to understand how to improve and optimize the oxidation rate.
The parameters tested during this stage of work include: (i) finer crushing sizes from ½” to ⅜” to ¼” and the use of High Pressure Grinding Rolls (“HPGR“) to produce a very fine crush at approximately 3mm; (ii) varying reagent strengths; (iii) targeting different pH’s; (iv) testing on/off irrigation; (v) applying other oxidants; and (vi) varying air injection rates. As illustrated in the lab photo above, over 40 columns are currently under oxidation or cyanide leach.
Chesapeake will continue to advance the metallurgical programme.
As the columns meet the oxidation curve target and switch to cyanide leaching, additional columns will be loaded and tested to confirm the improved oxidation rates. At the completion of this process, the results will be released outlining the oxidative curves and precious metal recoveries through cyanide leaching. Once sufficient metallurgical work is available, management plans to commence a pre-feasibility study to further de-risk Metates and advance the project toward our goal of developing one of America’s largest gold and silver deposits.
In addition, the Company is actively seeking other sulphide gold deposits where the leach technology can be applied to potentially unlock significant economic value.
Presently, Chesapeake remains well funded with almost C$24M in cash and cash equivalents.
To read more about this update please visit www.chesapeakegold.com
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