Cadence Minerals plc said it needed further information before assessing recent results from ore sorting test work outside its own rare earths interests at Yangibana in the Gascoyne, Western Australia.
MINE LIFE
The company is a 30% joint venture partner on three mining leases and six exploration licences.
Hastings Technology Metals Ltd holds 70% on the assets and owns 100% of the remaining portion of the Yangibana project.
The Australian miner said that the ore sorting test results confirmed its suitability to deliver a significant improvement of rare earths material.
The total rare earth oxide (TREO) recovery through the ore sorter is a linear function where the lower the head grade, the higher the mass rejection.
Hastings forecast that 24% of the proposed crusher feed will be rejected by the ore sorters as waste at the expense of only 4% TREO volumes across the life of mine schedule.
Results include a 26% upgrade to the life of mine TREO grade with 96% overall TREO recoveries after ore sorting.
Hastings added that engineering development is progressing to incorporate the ore sorting circuit into the beneficiation process flowsheet.
“The effect of the results of the ore sorting test work is forecast to have a positive effect on the LoM,” said Cadence.
“It is important to note, however, that currently a definitive feasibility study in November 2017, does not include Cadence’s joint venture interests and, in addition, Hastings’ current economic model does not include any costs or revenue ascribed to the 30% interest in the deposits held by Cadence.
“Therefore, to assess the effect of the improvements announced by Hastings, we will have to await further updates which are specific to our joint venture areas.”