Bluebird Merchant Ventures Limited Further Metallurgical Test Work at Gubong (0346S)
June 21 2018 - 1:00AM
UK Regulatory
TIDMBMV
RNS Number : 0346S
Bluebird Merchant Ventures Limited
21 June 2018
21 June 2018
Bluebird Merchant Ventures Ltd
(the "Company" or "Bluebird")
Further Metallurgical Test Work on Gubong Ore Sample Yields
Excellent Results
Bluebird Merchant Ventures (EPIC: BMV), the Asian focused
resource development group is pleased to announce results relating
to ongoing metallurgical test work conducted on an ore sample from
Adit 4 at the Gubong mine.
Highlights:
-- Excellent results from vat leach metallurgical test work
-- Recoveries of over 90% of the gold using conventional and alternative lixiviants
-- Vastly improved gravity recovery possible
-- Reduced operating and capital costs of future processing plant
Additional test work carried out on the Gubong oxide sample
using a simple process known as vat leaching yielded recoveries
more than 90% (up to 97%). Vat leaching is a well-known and
cost-effective processing route, whereby crushed or uncrushed ore
is placed in a series of containments known as vats and irrigated
with a solution to recover the desired metal into solution. The
process may be highly mechanised, reducing the cost of labour and
as there is no requirement for milling (reduction of ore in size to
a powder), greatly reducing power consumption.
As the leached and washed ore is of coarse size, it may be
readily used as a back-filling material or sold as aggregate.
Additional test work using enhanced gravity separation have
yielded gold recoveries of around 70% into 3% of the mass. Simply
put, this means that using just a gravity process on 100 tons of
ore, 70% of the gold can be captured in just 3 tons of concentrate.
The remaining 30% of gold in 97 tons can be stockpiled for later
processing. Additional test work will be conducted to further
optimise gravity recovery as a potential processing route.
A sample of Gubong tailings (material that has been processed
during previous operations), has been received and is being
subjected to preliminary diagnostic tests. Results to date indicate
recoveries of over 90% are possible from a head grade of 1.1 g/t
gold. Reprocessing of old tailings albeit at lower grade than mined
ore, is cost effective as there is little cost involved in the
reclamation of such tailings.
Additional samples will be obtained at a later date from other
areas of the mine to verify the results obtained from those
conducted on the oxidised sample obtained from Adit 4.
Colin Patterson, CEO, commented:
"We are very pleased with the rates of gold recovery presented
at Gubong, with conventional and alternative lixiviants providing
recoveries of up to 97%. As mentioned in a previous announcement
released on 9 May 2018, metallurgical test work is a critical
factor in determining the viability and economics of any mining
project as well as for the optimisation of ongoing operations.
"These encouraging results evaluated to date provides us with
great confidence that the ore is not problematic and does not
require complicated or expensive extraction techniques. This will
allow the Company to consider in its feasibility low-cost options
for the design and construction of its processing plant.
"Ore samples from the Kochang mine are currently being selected
for metallurgical test work and we look forward to updating the
market with results from these tests in due course".
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR")
Enquiries:
Bluebird Merchant Ventures Ltd +44 (0) 7797 859986
Jonathan Morley-Kirk, Non-Executive
Chairman
SP Angel Corporate Finance LLP
Ewan Leggat
Smaller Company Capital Ltd + 44 (0) 20 3470 0470
Rupert Williams/Jeremy Woodgate +44 (0) 20 3651 2910
Blytheweigh +44 (0) 20 7138 3204
Tim Blythe / Simon Woods
www.bluebirdmv.com
@BluebirdIR
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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