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UPDATE ON ACTIVITIES AND ISSUE OF CONSIDERATION SHARES
UPDATE ON ACTIVITIES AND ISSUE OF CONSIDERATION SHARES.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n UPDATE ON ACTIVITIES AND ISSUE OF CONSIDERATION SHARES\n \n \n\n \n ECR Minerals plc\n \n \n\n \n \n \n AIM: ECR\n \n \n US OTC: MTGDY\n \n \n ECR MINERALS plc\n \n \n (“ECR Minerals”, “ECR”, the “Company” or the “Group”)\n \n \n UPDATE ON ACTIVITIES AND\n \n \n ISSUE OF CONSIDERATION SHARES\n \n \n LONDON: 23 AUGUST 2016 - The directors of ECR Minerals plc (the \n “Board” or the “Directors”) provide the following update on the \n Company’s activities in Australia.\n \n \n AVOCA GOLD PROJECT, VICTORIA, AUSTRALIA\n \n \n Metallurgical Testwork Results\n \n \n The results of metallurgical testwork on a composite sample obtained \n from the Golden Lake, Working Miners and Working Miners United dumps \n have been received from Consep Pty Ltd, an independent laboratory and \n engineering firm based in Sydney, Australia.\n \n \n Cyanide leach testwork on the -25um fraction of the sample achieved very \n high gold recoveries of 80% after 4 hours and 98% after 24 hours. The \n Gravity Recoverable Gold (GRG), as that term is used by Consep, of the \n whole sample was reported as 32%. This is the recovery obtained from two \n passes through a Knelson gravity concentrator based on certain operating \n parameters recommended by Consep as appropriate for an initial testwork \n phase. Cyanide leaching of the Knelson tailings achieved a high gold \n recovery of 84% after 4 hours and 90% after 24 hours.\n \n \n The initial concept for reprocessing of the waste dumps was to use \n gravity techniques only to extract gold from the fine fractions of the \n waste dump material, however the metallurgical testwork results indicate \n that other methods (such as cyanidation), or a combination of methods, \n may be more suitable given the fine nature of the gold sampled. It is \n conceivable that further gravity testwork based on different parameters \n might yield higher recoveries. The detailed metallurgical testwork \n results will be reviewed by the Board and appropriate consultants, and \n will inform completion of the conceptual economic study regarding the \n Avoca dumps. A second source of potential revenue, in addition to gold, \n is construction materials (sand and gravel) sourced from the dumps. The \n Company notes that several sand and gravel operations exist in the Avoca \n area, and the possibility of cooperation with an exi...