POL – Polymetals Resources | Aussie Stock Forums

November pick – Mcap is up to about $150m, would have preferred a quiet day today but it jumped 18%.

Country Lad’s post above covers most of the known knowns, it’s a solid project.

The upper north load (UNL) has recently produced good drilling results from 4 x geotechnical holes, including 67.1m @ 517 g/t silver equivalent, all 4 finished in mineralisation.

They’ll use the UNL to get the project off to good start, it has high silver grades.

David Sproule is a Metallurgical Engineer and has had dealings with this project in the past, specifically the tailings.

The below is from the mine restart study, I’m intrigued (highlights mine)-

10.7.1 Leaching
Metallurgical test work has been completed in the past for increased recovery of silver and gold
from the ore stream. This is particularly relevant with respect to potential supergene ore and
flotation tailings.
The only historic commercial leaching of Endeavor mineralisation was conducted
by Polymetals Chairman, David Sproule, during 1993 – 1995.
The tailings processed had resulted
from treatment by Pasminco of 100,000 t of supergene ore mine from the “South Lode”, which
contained approximately 16 Moz of silver and 29,000 oz of gold. Then owner Pasminco, produced
a flotation concentrate which typically assayed 15,000 g/t silver, 15 g/t gold, 6% copper and 15%
lead.

The tailings retreatment campaign by Mr Sproule (as Polymetals Australia Pty Ltd) involved
purchase and off-site treatment of the tailings to produce silver/gold doré.

A total of 84,000 t of flotation tailings grading 550g/t silver and 3.5g/t gold was treated via
cyanidation and Merill Crowe to recover 81% (1.2 Moz) silver and 70% (6 koz) gold. Elevated
cyanide soluble copper required that aluminium be used as the cementation (reducing) agent.

There is an opportunity to progress with investigation of potential gold and silver recovery via
cyanidation of UML supergene ore and Sector 1 tailings. This possibility is considered as a
potential Stage 2 revenue stream, following further test work and re-establishment of steady state
commercial operations at Endeavor. It may be that high silver/gold grade tailings generated from
the restart operation will be stored separately for later treatment