Very solid quarterly report outNext results from Kingsgate due...

Very solid quarterly report out
Next results from Kingsgate due mid-late Feb.
This is an excellent project if you're into the noble metals, a segment of the resources sector more driven by industry players.
The profitablity of Kingsgate will surprise you.

Climate Change
(Yes it does)



Auzex Resources reports progress with moly-bismuth project
LONDON (Metal-Pages) 31-Jan-08. Australia's Auzex Resources has reported progress with its Kingsgate molybdenum-bismuth project at Glen Innes, New South Wales.

The feasibility study into development of the project progressed during the fourth quarter of 2007 with the highlight being the reporting of exceptional drill results as part of the resource drilling program. Best results included 5m at 1.35% molybdenum and 0.69% bismuth from 42m and 7m at 0.70% molybdenum and 0.52% bismuth from 43m.

Drilling has been successful in identifying individual mineralised zones with the results revealing a much large scale of mineralisation than had initially been modelled. The first quartz pipe tested is at least three times larger than first thought and remains open down plunge.

Auzex said that a second RC drill rig commenced in early January and has been secured until at least the end of February. Three additional geologists have also been contracted to speed up the resource drilling program. Due to the holiday period, the next round of assay results for release to the market are expected in the next three to four weeks.

Investigations to improve metal recovery levels have revealed that by using proven hydrometallurgical process technology, a molybdenum recovery of at least 94% can be achieved, Auzex also said.

Results for bismuth using this process are not yet available. Besides improved recoveries, the product is expected to be of very high purity. This adds significant value to the final product and has the potential to dramatically increase the project's profitability, Auzex also said. This is a material improvement on the 85% recovery level used in the scoping study, the company also said.