Contact Gold (C.V) isn’t just drilling, it’s also working on other aspects of the Pony Creek project to advance it towards development. In our initial report, we argued that although there was no historic data available on the metallurgical perspective of the historic resource, but that there was no reason to assume the recovery rates would be materially different from the recoveries reported at Gold Standard Ventures (GSV, GSV.TO).
The initial results of Contact’s own met work are indicating the Bowl zone rock could be amenable to normal cyanide-based processing as the recovery rates using a bottle roll metallurgical test are indicating recovery rates between 85 and 90% (apparently the press release contains a typo, and the 0.55 g/t from the fire assay should be just 0.5 g/t. We provided the corrected fire assay grade in the table here below). These results are still very preliminary (as they were completed on just two samples: a conglomerate oxide composite and a rhyolite oxide composite) and additional fine-tuning could result in even higher recovery rates and/or a lower cyanide consumption.
The main takeaway from this metallurgical update is the fact the Bowl zone appears to be amenable to be heap leached, which would have a very positive impact on the future development plans. But first things first, and Contact’s main focus will be on the ongoing drill program where 16,000 meters will be drilled to confirm and upgrade the historical resource to today’s standards.