This latest round of testing was based on strong results achieved for Stage 1 while further assessing the effects of temperature and time on the gold recovery process.
The Company is investigating the use of Organic Aqua Regia technology as a non-toxic and water-free alternative to cyanidation for the recovery of gold, silver, and other precious metals.
This testing is essential for future economic calculations, which will weigh the reaction speed and overall efficiency against the cost of heating, to determine whether commercial units should operate at ambient temperature or with supplemental heating.
Testing samples of artisanal tailings feedstock, collected at the Newlox Gold artisanal tailings remediation and precious metals recovery project in Costa Rica, indicated that approximately 95% gold dissolution is possible in 8 hours at ambient Costa Rica temperatures.
Recent tests reinforce data from Stage 1 showing that, while increased temperature does expedite reaction speed and overall recovery, levels of over 90% recovery can be achieved at ambient temperature.
This is important since the volume of reagent needed to treat each tonne of feedstock will impact the scale and cost of future processing plants.
With continued good results from the lab, we anticipate the commencement of in-field OAR testing this summer.
The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure.
The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision.