BSG bolnisi gold nl


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    Recoveries strong at Palmarejo

    Rebecca Keenan

    Wednesday, December 22, 2004
    "BOLNISI Gold says it has achieved encouraging flotation and leaching results from the pilot plant at its Palmarejo gold and silver project in Mexico.

    Bolnisi said the overall recoveries for the gold and silver were 97.2% and 92.1% respectively.

    Chips from reverse circulation drilling were tested with sighter flotation tests indicating 83-89% recovery of gold and silver. The testwork results were consistent with earlier tests on diamond core, Bolnisi said.

    About 420kg of the crushed 2mm composite material was processed through a pilot flotation circuit to produce a concentrate for further test work, including filtration, thickening, leach/electrowinning and agitation.

    Palmarejo has a recently updated resource of 20 million tonnes at 4.8 grams per tonne gold equivalent for 3.1 million ounces gold equivalent.

    There are reportedly five rigs on site targeting resource extensions, according to brokerage Hartleys, with drilling results expected soon.

    Bolnisi is in the process of transferring the project into a subsidiary, Bonita Capital Corp, which has just recommenced trading on the Toronto Stock Exchange. It is expected that Bonita will be renamed Palmarejo Gold Corp.

    Hartleys said the proposed Canadian listing of the project would create additional value for shareholders by providing exposure to Canadian markets".

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