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Cerrado Gold Provides an Update on its Mont Sorcier High Purity 67%+ Iron Grade Project in Quebec
Detailed Metallurgical test work is ongoing and reaffirms production of DRI grade, 67%+ or better...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Provides an Update on its Mont Sorcier High Purity 67%+ Iron Grade Project in QuebecDetailed Metallurgical test work is ongoing and reaffirms production of DRI grade, 67%+ or better iron concentrate with combined Silica and Alumina below 2.5%Work Programs initiated and DRA Global appointed to deliver NI 43-101 Bankable Feasibility Study by end of Q1 20262022 PEA on Mont Sorcier provided an NPV8% of US$1.6 Billion for a 21-year mine life producing 5MT of Iron Concentrate per year (300,000 oz/Au equiv.) generating US$348M per annum in cash flow based upon initial capex of US$574MUKEF and TD Bank have agreed to sponsor 70% of project capital required subject to customary conditions of Export Credit Agency funding(All numbers reported in US dollars)TORONTO, ON / ACCESSWIRE / December 4, 2024 / (TSXV:CERT)(OTCQX:CRDOF) (\"Cerrado\" or the \"Company\") is pleased to provide an update on its ongoing work programs to complete a NI 43-101 Bankable Feasibility Study(\"BFS\") by end of Q1 2026 on its High Purity, DRI Grade, +67% iron Mont Sorcier magnetite iron ore project located near Chibougamau, Quebec.Metallurgical Program Focused on Delivering Premium ProductDetailed metallurgical testwork programs are currently being undertaken by Soutex Inc, to build on the previous metallurgical test results announced in March 2024. Previous testing has confirmed the ability to produce High Purity, DRI Grade, iron concentrates grading over 67%+ iron and less than 2.5% silica and alumina combined. Current testwork is focused on flotation testing, more detailed variability tests, grind size and reagent optimization programs and equipment sizing. Current testwork and overall process design are to be at the core of the NI 43-101 Bankable Feasibility Study (\"BFS\") which is targeted to be completed by end Q1 2026. While ongoing, results to date are encouraging and indicate the potential for further improvement in iron grade, purity and potentially grind size.The design and analysis of the metallurgical test work program is being completed by Soutex Inc., a consultancy firm specializing in ore processing and metallurgical processes based in Quebec City, Quebec, with testwork completed by SGS Canada, one of the world's leading testing, inspection and certification companies based in Quebec City.Bankable Feasibility ProgramIn addition to the ...