Moon River tables ore sorting study for Endako, B.C., molybdenum mine
Moon River Moly Ltd. [MOO-TSXV] says its initial results from a recently completed study by ore sorting supplier Ganzhou HPV Technology Co. Ltd. have indicated that the mineralized material at the Endako mine complex in central British Columbia may be amenable to ore particle sorting and the incorporation of ore sorting could significantly improve the overall feed grade to the processing plant.
The Endako Mine is a primary (non-by-product) molybdenum mine located near Fraser Lake, 161 kilometres northeast of Prince George, B.C. Thompson Creek Metals Co. Ltd., a subsidiary of Centerra Gold Inc. [CG-TSX, CGAU-NYSE] holds a 75% interest in the mine with Moon River Capital holding a 25% interest. The mine was placed on care and maintenance in July, 2015.
Moon River holds its interest in the mine complex pursuant to an exploration and development and mine operating agreement dated June 12, 1997, with Thomson Creek Metals.
Ore sorting is a process that separates economically valuable rock from non-valuable rock. It uses a mineral preconcentration technology that employs sensors to identify and separate ore particles based on their physics or chemical properties, ultimately improving the grade of the ore feed to processing plants. The benefits of ore sorting include improve feed grade to the processing plant, reduced processing costs, increased efficiency and reduced environmental impacts.
The XRT X-ray sorting technology results from the HPY study on a 50-kilogram sample from the Endako mine indicate approximately 88.6% metal retention and approximately a 40% rejection rate (waste).
“The results of this study by HPY are very encouraging and could be significant for the Endako mine complex,” said Moon River President and CEO Paul Parisotto. “We intend to conduct more detailed studies to further examine the feasibility of ore particle sorting at Enadako,” he said.
Moon River shares were unchanged Thursday at 38 cents and trade in a 52-week range of 82 cents and 28 cents.
Moon River expects to continue ore sorting investigations with a planned two to five tonne bulk sample collected from the Endako mine complex for confirmatory analysis this summer. Samples from the Davidson deposit will be tested to determine their amenability to ore sorting.
The Endako mine complex consists of three open pits which were amalgamated as part of a mine and mill expansion completed in June, 2012. The processing facilities, which were upgraded and augmented, include a 50,000-tonnes per day concentrator, a 35,000 to 40,000 pound per day capacity molybdenum roaster (and an additional non-operating roaster), tailings and reclaim water ponds, a crushing plant, waste rock dumps, an administrative building, a truck shop/warehouse, a change house, a first aid station, a laboratory, a garage and other shops. The power supply of the site is provided by a nihe-kilometre, 69 kilovolt power line owned by BC Hydro from a nearby substation.
Operations at the Endako mine complex began in 1965 and were suspended in December, 2014, as a result of the market conditions. It has been on care and maintenance ever since.