AMN - SOUTH AFRICA: JORC resource complete for Goldplat recovery

Goldplat has completed a JORC-compliant resource statement for the Tailings Storage Facility (TSF) at the Goldplat Recovery operations in South Africa (GPL). GPL has been depositing tailings onto this TSF since January 2003 with the intention to eventually reprocess the material as it is known to contain significant quantities of gold and other minerals.

In order to be able to accurately assess the economic viability of reprocessing the TSF it is necessary to know the mineral content and distribution of value within the TSF, and the metallurgy in order to design an appropriate processing facility and production plan.   

The TSF was drilled and sampled to produce the Resource Statement. This work was recently completed and the JORC Resource report states that the TSF contains a total of 81,959 oz of gold, 216,094 oz of silver, and 193,276 lb of uranium oxide. The resource is separated into that contained in the TSF slimes (the ‘slime resource’) and that contained in the soils beneath the TSF as a result of leaching over the years (the ‘Footwall Soil Resource’). The tables below show the detail of the resource estimate.   

The amount of silver and uranium oxide contained within the TSF, in addition to the gold content, is particularly encouraging. Initial test work suggests that conventional processing routes could result in gold recovery in the order of 15-20% through the existing New Tailings Circuit.

More detailed metallurgical test work will now be undertaken, not only to determine the optimal gold extraction process, but also to optimise the extraction of silver and uranium oxide. This test work together with simultaneous processing and plant optimisation will begin immediately to ascertain how best to monetise the value contained in the TSF. At the same time, good progress is being made on finalising a new final tailings deposition site with an estimated life span in excess of 20 years. All studies as well as finalisation of a new tailings deposition site are expected to be complete by end May 2016 after which preparation for treatment of the TSF can begin.   

Goldplat CEO Gerard Kisbey-Green says: “This is a great result for Goldplat. The amount of gold estimated is in the order of what we were hoping for and the silver and uranium is an added bonus! This is a resource ‘sitting on our doorstep’ which has already been mined and processed and should therefore be very cost-effective to process. 82,000 oz of gold on our property with minimal mining costs and relatively simple processing is a great resource to have! Our next step will be to optimise the metallurgical extraction of the gold and silver, and determine how best to monetise the uranium resource.”  

Goldplat is an AIM-listed gold recovery services company with two operations in South Africa and Ghana. Its strategy is focussed on using its cash flow generated from flagship gold recovery operations in Africa to self-fund sustainable growth and expansion of niche gold recovery business model. The company also has a small gold mining and exploration portfolio in Kenya, Burkina Faso and Ghana and is evaluating various opportunities to create value or monetise these assets.  

www.goldplat.com

News courtesy of International Mining