Material for the trial heap was drilled and blasted from areas of the Fenix North, Fenix Central and Fenix South deposits and composited to make a 426 tonne representative sample.
The test work targeted simplifying operations and eliminating the need for the installation of a single stage gyratory crusher as outlined in the Pre-Feasibility Study with an effective date of August 15, 2019.
These results compare favorably with those from the August 2019 PFS which assumed crushing material to a size of 4 inches with recoveries of 75% for gold and 10% for silver.
Alex Black, President & CEO of Rio2, stated, “The successful completion of the ROM heap leaching trial is an important milestone for Rio2 as it simplifies the mining and processing components of the Fenix Gold Mine by eliminating the need for installing a crusher and the subsequent double handling of mined material before its placed on the leach pad.
Geo , Senior Vice President Geology of Rio2 Limited, who is a QP under NI 43-101 has also reviewed, approved and verified the scientific and technical content of this news release.
In addition to the Fenix Gold Project in development in Chile, Rio2 Limited continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws relating to Rio2’s planned development of its Fenix Gold Project and other aspects of Rio2’s anticipated future operations and plans.
All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties.
Forward-looking statements included in this news release are made as of the date of this news release and such information should not be relied upon as representing its views as of any date subsequent to the date of this news release.