Faced with substantial quantities of lower-grade oxidized ore on its Costa Rican gold properties, Ariel Resources (TSE) has decided to construct a 150-ton-per-day pilot plant.
A patented flow vat-leaching technique will provide an economic alternative to heap leaching, which is not practical as a result of the heavy rainfall experienced at the mine site. The plant will be built near the San Martin primary crusher.
In other news, revenue for Ariel increased to more than US$4.2 million for the year ended Sept. 30, 1994, a 20% rise from the previous year. The company had a net profit of about US$180,000, or US19 cents per share.
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