Metallurgical testing of a bulk sample from Audrey Resources’ Mobrun property near Rouyn, Que., shows improved results in November compared with October.
In October, 27,072 tonnes were milled with 62% zinc recovery and 36% gold recovery for a net smelter return value of $26.65 per tonne. In November 25,808 tonnes were milled with 66% zinc recovery and 41% gold recovery for a net smelter return of $32.57 per tonne.
Tests on the bulk sample continue in December to maximize recovery of four metals, copper and silver as well as zinc and gold. Milling tests will be suspended in January to permit underground exploration. Underground ore will be available in April, 1987.
Net smelter return of the underground ore is estimated at $52 per tonne and operating costs at $32 per tonne. Operating cost for the test of the open pit is estimated at $21 per tonne.
Following the underground exploration results, if a positive commercial production decision is taken in June, 1987, Audrey forecasts net cash flow of over $1 per share.
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