- Heavy Minerals (HVY) receives “favourable” metallurgical results from IHC Mining for its Port Gregory Garnet Project in WA
- The results confirm that the project’s mineral sands can be processed readily using typical processing methodologies and equipment
- A follow-up QEMSCAN analysis to determine garnet mineral liberation characteristics to assist with recovery optimisation is planned
- HVY is expecting to deliver its scoping study in Q3 2022 and the second phase of the Port Gregory drilling is planned to commence in the third or fourth quarter of 2022
- Shares in Heavy Minerals are down 4.76 per cent, trading at 20 cents at market close
Heavy Minerals (HVY) has received “favourable” metallurgical results from IHC Mining for its Port Gregory Garnet Project in Western Australia.
IHC Mining completed scoping study level metallurgical and process development test work on a bulk sample from the project.
This work confirmed that Port Gregory’s mineral sands can be processed readily using typical processing methodologies and equipment.
The results highlighted the potential products could be marketed as 30/60 mesh and 80 mesh blasting grade products, and 80 mesh and 120 mesh water jet cutting products.
Key products produced include a high grade garnet concentrate product containing 98.3 per cent garnet and potential primary ilmenite product containing 53.8 per cent titanium dioxide which was readily upgraded from magnetic concentrate.
CEO and Executive Director Nic Matich called the project the company’s flagship asset which results highlight why Heavy Minerals chose to rapidly progress it.
” A large resource with readily marketable products, bodes well for the upcoming scoping study which is due for imminent release,” he said.
“The board is extremely excited about the prospects for Port Gregory and the potential to bring it into production.”
Heavy Minerals is expecting to deliver its scoping study in the third quarter of 2022.
A follow-up QEMSCAN analysis to determine garnet mineral liberation characteristics to assist with recovery optimisation is planned.
Following the outcomes of the scoping study and preliminary economic analysis (PEA), the company will determine further bulk sampling testwork required to develop samples for potential “offtakers”.
The second phase of the company’s Port Gregory drilling is planned to commence in the third or fourth quarter of 2022.
The project has a JORC mineral resource estimate of 135 million tonnes at four per cent or 4.9 million tonnes of contained garnet.
Shares in Heavy Minerals were down 4.76 per cent, trading at 20 cents at market close.