Initial metallurgy results very encouraging
SGQ has undertaken initial metallurgical test work on mineralisation from the Cathedrals
Prospect with excellent recoveries greater than 99% in a bulk concentrate. Results for split
nickel and copper concentrates returned recoveries of 89.4% and 85.8% respectively.
These tests highlighted the potential to produce a nickel concentrate grading 18% and a
copper concentrate grading 32%. Cobalt in the nickel concentrate graded 0.55% and
PGEs+Au in the nickel concentrate graded 13.5g/t.
For context, Independence Group’s (IGO) Nova project is expected to produce a nickel
concentrate of 13.5% and a copper concentrate of 29%. Western Areas (WSA) produces a
~15% nickel concentrate from Forrestania, Sandfire Resources (SFR) produces a 24-25%
copper concentrate from DeGrussa and Panoramic Resource (PAN) produces a 7-8% nickel
concentrate from Savanah. Test work at Mt Alexander revealed no “red-flags” with
respect to impurities or deleterious elements which would inhibit concentrate
marketability. Argonaut believes that under a mining scenario, Mt Alexander could
produce a highly marketable product with considerable by-product credits.
SGQ Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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