Tembo Gold Corp. (TSX V:TEM, Stock Forum)said the results of its gold deportment and preliminary metallurgical testing indicate the Tembo project in Tanzania will yield gold recovery in the order of 90 to 95%.
The testing was conducted on 32 samples collected during an artisanal mining face sampling program conducted at the wholly-owned Tembo project in the Lake Victoria goldfield in Tanzania.
According to the press release, Gold (Au) and sulfur (S) assays were conducted on each sample. Based on the gold results, the samples were grouped into three composite samples: low grade 0 to 3 grams per tonne Au, medium grade 3 to 6 grams per tonne Au, and high grade 6 to 60 grams per tonne Au.
The average grades of the three composites, low grade, medium grade and high grade were 1.83 grams per tonne, 6.22 grams per tonne, and 18.26 grams per tonne for gold and 0.7 grams per tonne, 1.5 grams per tonne and 1.8 grams per tonne for silver respectively.
The study finds that gold in all three composites is well liberated and exposed. Gravity recovery plus direct cyanidation would be an effective method to recover the gold, but retention time may need to be increased to fully leach coarse gold particles.
Tembo Gold is a Canadian publicly listed mineral exploration company focused on the exploration and development of gold projects in Tanzania and the rest of Africa.
On Tuesday, Tembo Gold was trading for $0.53 a share. The company has a market cap of $21.4 million, based on $40.4 million shares outstanding. The 52-week high and low was $2.29 and $0.45 respectively.