SolGold shares rise on latest data from Alpala project

(Sharecast News) - SolGold updated the market on recent results from the ongoing comprehensive comminution - crushing and grinding - and metallurgical test work programme for the Alpala project on Monday, saying it yielded high-grade copper and gold content.
The London-listed firm included updates to the recovery parameters for copper, gold and silver, and a "comprehensive analysis" of concentrate specifications from locked cycle test work - a repetitive batch used to simulate a continuous circuit - completed and published in the ALS Metallurgical Testing Cascabel Copper-Gold Project Phase 1 report.

It said the flotation locked cycle test was critical to simulating plant operation with regard to recirculating loads, water quality and reagents, and had been the industry standard for developing circuit design for several decades.

SolGold said it was now "actively engaged" with concentrate market participants, adding that it expected to confirm alignment on the "high quality and marketability" of the Alpala concentrate in the pre-feasibility study.

The company reported an "extremely low" content of deleterious elements in concentrate; measured at only trace levels.

It also confirmed the appointment of Gregory Harbort as general manager of process and metallurgy, and of Bluequest Resources to consult SolGold on commercial and logistical matters for concentrate marketing.

"SolGold is heartened by the progress we have made to better understand the metallurgical aspects of Alpala," said chief executive officer Nicholas Mather/

"The high copper and gold content in the concentrate - than evident in the preliminary economic assessment - markedly enhances our ability to attract financing for this outstanding asset.

"In combination with the very low content of deleterious elements, we expect the concentrate to be in high demand from all of the major global copper smelters, at a time when the market has gravitated towards developing more complex ore bodies to satisfy the surging demand for copper."

As at 1105 GMT, shares in SolGold were up 4.29% at 21.9p.