29 Oct SolGold boosted by metallurgical results at flagship copper mine in Ecuador
Australian miner SolGold has revealed that ‘significant improvements’ have been made at its Alpala copper project in Ecuador following the successful completion of metallurgical test work.
The London and Toronto-listed firm reported an estimated 3.8% copper recovery increase, giving a life of mine (LOM) average of 93% recovery at the mine. Gold recoveries also improved by 22% for a LOM average of 87%, while silver recoveries have increased by 28% for an 88% LOM average.
These improved recoveries provide ‘a major value uplift for Alpala’, according to SolGold, and will see the firm deliver an additional 354,000 tonnes of copper, 4.4 million ounces (Moz) of gold and 24Moz of silver from the mine.
“The updated metallurgical recoveries for copper, gold and silver are very impressive indeed,” said SolGold CEO Nicholas Mather.
“In comparison to declining global concentrate grades and quality, SolGold is looking at some substantial competitive advantages at the Alpala project in comparison to other undeveloped copper-gold resources around the world.”
The Alpala deposit is the main target in the Cascabel concession, located in the Ecuadorian section of the Andean Copper Belt, which hosts nearly half of the world’s copper production.