Source: Spanish Mountain Gold Ltd.
  • Spanish Mountain Gold Ltd. (SPA) has provided an update on the fall field program for its flagship gold project in British Columbia
  • The work programs underway are helping complete the project’s pre-feasibility study
  • An exercise has successfully assessed the metallurgical performance of samples
  • A modified power line route has been outlined, and BC Hydro is helping with electrification
  • Surface water quality, hydrology, and aquatic habitat studies are ongoing for an environmental assessment
  • Spanish Mountain Gold Ltd. (SPA) is unchanged, trading at $0.13 per share as of 2:04 p.m. ET

Spanish Mountain Gold (SPA) has provided an update on the fall field program for its flagship gold project in British Columbia.

The work programs underway are helping complete the project’s pre-feasibility study, where a multimillion-ounce mineral reserve was outlined along with strong economics and a 14-year mine plan.

After the stud is complete, Spanish Gold’s technical team continued to advance the metallurgical test to improve the gold recovery process and to develop detailed parameters for the flowsheet.

So far, the exercise has successfully assessed the metallurgical performance of samples using conventional gravity, flotation, and leaching processes. The current field program will extract samples to complete variability sample testing and confirm the metallurgical performance with the optimized flowsheet. Once testing is complete, the optimized flowsheet and the detailed processing configuration will form the basis for ore processing and the recovery of gold in the definitive feasibility study.

Spanish Mountain has set up a modified route for a power line to the proposed mine to help reduce risks and is progressing well. The company is also working alongside BC Hydro to set up electrification for the mine that can help reduce costs and emissions.

Environmental field studies from this year focused on completing baseline studies for the preparation of the site-wide water balance and water quality model to support the preparation of the environmental assessment application later in 2023. Surface water quality, hydrology, and aquatic habitat studies are ongoing.

In other news, the company’s Board of Directors has authorized granting of incentive stock options to acquire 300,000 common shares to a director. The options have an exercise price of $0.15 per share and will expire on September 13th, 2027.

Spanish Mountain Gold Ltd. (SPA) is unchanged, trading at $0.13 per share as of 2:04 p.m. ET.


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