MONTREAL, Jan. 18, 2017 /CNW Telbec/ - ALGOLD
RESOURCES LTD. (TSXV: ALG) (the "Corporation") today announced
results of preliminary metallurgical tests from drill core samples
at its Tijirit project ("Tijirit") in Mauritania, the results of which continue to
attest to the property's geological potential. Metallurgical work
conducted consisted of grindability, heap leach amenability and
gravity separation, and cyanidation and acid generation
testing.
Preliminary metallurgical testing was carried out at SGS Canada
in Lakefield on four composites
using HQ core samples collected from the Eleonore, Sophie I and
Sophie II, and Lily zones. The Eleonore composite was characterized
by quartz veins associated with metasediments, the Sophie I
composite was made up of quartz veins within banded iron formation
("BIF"). The Sophie II composite was made up of weathered BIF and
the Lily composite was made up of metasediments. Each composite
weighted between 70 kg and 130 kg.
Utilizing fire assay analysis, the head grades for each of the
composites were as follow.
Zone
|
Composite
No
|
Rock
Type
|
Samples
Weight (kg)
|
Head Grade
(g/t Au)
|
Eleonore
|
1
|
Quartz vein with
metasediments
|
130.10
|
22.80
|
Sophie I
|
4
|
Quartz veins and
BIF
|
90.20
|
5.36
|
Sophie II
|
3
|
Weathered
BIF
|
70.55
|
1.53
|
Lily
|
2
|
Metasediments
|
131.5
|
0.67
|
As expected, the results demonstrate that the various
mineralized zones at Tijirit have a wide range of crushing and rock
strength characteristics with unconfined compression strength
(UCS), with average values for each composite ranging from 29 to
102 MPa. The preliminary SMC grinding tests are inconclusive,
however seem to be situated within range categories from soft
(Sophie II), medium (Eleonore) to hard (Sophie II and Lily).
Recovery of gold amenable to gravity separation followed by
cyanidation of the gravity tailings was conducted with the
following results.
Sample
|
Zone
|
Feed Size
P80, µm
|
Au Extraction /
Recovery
|
Gravity
|
Cyanidation
|
Gravity +
Cyanidation
|
Composite
1
|
Eleonore
|
144
|
57.9%
|
37.8%
|
95.7%
|
|
100
|
57.9%
|
38.3%
|
96.2%
|
|
79
|
57.9%
|
39.4%
|
97.3%
|
|
49
|
57.9%
|
37.8%
|
95.7%
|
Composite
2
|
Lily
|
77
|
71.4%
|
25.7%
|
97.1%
|
Composite
3
|
Sophie II
|
73
|
33.3%
|
63.7%
|
97.0%
|
Composite
4
|
Sophie I
|
74
|
43.6%
|
49.5%
|
93.1%
|
Heap leach amenability was also conducted using a 28-day program
on Composites 1, 2 and 3 for three crush sizes each (¾, ½ and ¼
inches). The percentages of gold extraction for each composite, at
the end of a 28-day cycle, are indicated below.
Composite
|
Size
|
Au
Extraction
|
|
|
Day
28
|
1
|
¾"
|
22.3%
|
Eleonore
|
½"
|
12.3%
|
|
¼"
|
38.9%
|
2
|
¾"
|
58.9%
|
Lily
|
½"
|
62.4%
|
|
¼"
|
82.5%
|
3
|
¾"
|
66.9%
|
Sophie
II
|
½"
|
70.1%
|
|
¼"
|
61.9%
|
The Heap Leach Amenability indicates that the Lily ore would
respond very well to heap leach at a crush size (¼") with a gold
recovery of 82.5%. At this point in time, the results are
inconclusive for the higher-grade Eleonore composite sample.
Preliminary acid generation tests were also conducted on the
four composites. Results demonstrate that Composite 3 is classified
as not-potentially acid generating (NPAG), and Algold is awaiting
results for the 3 other composites.
"This first run of tests and the preliminary results are very
encouraging," said François Auclair, Algold's President and Chief
Executive Officer, "These results, along with the ongoing program,
will help Algold to determine further metallurgical studies to be
conducted on larger bulk samples at the promising Tijirit project
in the future."
Quality Assurance / Quality Control (QA/QC)
Analytical
work was carried out at SGS Lakefield, an ISO/IEC 17025 Certified
Laboratory.
This press release has been reviewed for accuracy and compliance
under National Instrument 43-101 by Tyler
Crary, P.Eng., Senior Metallurgist at SGS Lakefield
Canada Inc., and Guy Saucier, P.Eng,
Algold Resources consultant, Qualified Persons ("QP") as defined by
NI 43−101 Standards of Disclosure for Mineral Projects.
They have approved the scientific and technical disclosure in the
news release. André Ciesielski, a QP, has further approved the
scientific and technical disclosure in the news release.
ABOUT ALGOLD
Algold Resources Ltd is focused on the
exploration and development of gold deposits in West Africa. The board of directors and
management team are seasoned resource industry professionals with
extensive experience in the exploration and development of
world-class gold projects in Africa.
Algold is the operator of all of its exploration licenses in
Mauritania. Algold owns 100% of
Tijirit, which represents an area of more than
1,000 km2, situated approximately 25 kilometers
southeast of the Tasiast gold mine as well as the Akjout
properties, which were acquired from Gryphon Minerals (Australia) through a transaction completed
earlier in 2016. Exploration is being carried out on the Eleonore,
Sophie I, Sophie II-III and Lily zones. The Kneivissat
property is 90% owned by Algold and the Legouessi property is being
managed through a 51% earn-in interest agreement with Caracal Gold
LLC. Algold can earn up to a 90% interest in the Legouessi
exploration permit (reference Algold's press release dated
October 10, 2013 for more details), however, Caracal has the
right to participate in the joint venture at either 51% or 75% by
funding its share of expenditures.
CAUTIONARY LANGUAGE REGARDING FORWARD-LOOKING
INFORMATION
This press release contains and refers to forward-looking
information based on current expectations. All other statements
other than statements of historical fact included in this release
are forward-looking statements (or forward-looking information).
The Corporation's plans involve various estimates and assumptions
and its business is subject to various risks and uncertainties. For
more details on these estimates, assumptions, risks and
uncertainties, see the Corporation's most recent Annual Information
Form and most recent Management Discussion and Analysis on file
with the Canadian provincial securities regulatory authorities on
SEDAR at www.sedar.com. These forward-looking statements are made
as of the date hereof and there can be no assurance that such
statements will prove to be accurate. Forward-looking statements
are subject to significant risks and uncertainties, and actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements that are
included herein, except in accordance with applicable securities
laws.
SOURCE Algold Resources Ltd.