Magnum Mining and Exploration (ASX:MGU) completes bulk sampling at Buena Vista

• Magnum Mining and Exploration (MGU) completes a bulk sampling program at its Buena Vista project in Nevada, USA
• The work is aimed at supporting further recovery testing to assist in optimising the process flow sheet
• The samples have been shipped to Australia for processing and once it receives results, Magnum will aim to further improve project economics
• MGU shares are up 8.7 per cent to trading at 2.5 cents at 4:00 pm AEDT

Magnum Mining and Exploration (MGU) has undertaken a bulk sampling program at its Buena Vista green pig iron project in Nevada, USA.

The sampling program was completed on the existing open pit and stockpiles in the Western Pit area of the mine, and collected high, medium and low-grade ores.

The company completed the program to support additional grind size – recovery tests to optimise the process flowsheet.

Specifically, this work will aim to characterise recoveries across different ore grades, optimise recoveries for greater economic returns, inform which grinding technology is used and provide geotechnical parameters for open pit design optimisation.

The samples have been shipped to Australia for processing, which is being managed by an independent metallurgical consultant.

Once the company receives the results, it said it will revisit process design criteria and pit optimisation to further improve the Buena Vista’s economics.

This announcement follows yesterday’s news the company was officially quoted on the OTC-QB market exchange, allowing its shares to become more easily accessible by North American investors.

Magnum’s focus is on the Buena Vista project in Nevada and the Appalachian project in West Virginia.

MGU shares were up 8.7 per cent to trade at 2.5 cents at 4:00 pm AEDT.