More prosperous news emerged from Canada’s West Coast Tuesday morning, as Vancouver-based First Mining Gold Corp. (TSX:FF) announced positive interim metallurgical test results for its Springpole Gold Project in northwestern Ontario. The results indicated the potential for significant increases in the ultimate recovery of both gold and silver from the project.
Flotation test work revealed total recoveries of 90.6% for gold and 95.1% for silver through flotation followed by separate cyanide leaching of both concentrate and flotation tails. This represents a 13.2% increase in gold recovery and an 11.9% increase in silver recovery.
First Mining CEO Dan Wilton said, "The increased recoveries demonstrated by these test results are very exciting and could add significantly to the robustness of Springpole, while at the same time improving our ability to engineer the project to minimize its environmental impact.”
Further, "Springpole is one of the largest undeveloped gold projects in Ontario and this potential increase in recoveries points to a strong potential for increased annual production, further moving Springpole into ''Tier I'' project status."
Shares vaulted four cents, or 11.8%, early Tuesday afternoon to 38 cents, on volume of more than 357,000 shares.
