FORTUNE BAY ANNOUNCES UPDATED PEA FOR GOLDFIELDS, SASKATCHEWAN
Original announcement by tmx on
- Company
- Fortune Bay Corp.
- Ticker
- FOR
- Exchange
- TSX
- Region
- Saskatchewan
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update, Economic study, Metallurgy
- Extracted
- 2026-09-17 23:09:12 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Fortune Bay announced an updated Preliminary Economic Assessment (PEA) for its Goldfields Gold Project in Saskatchewan, highlighting strong after-tax economics. The base case, using a $2,600/oz gold price, shows an after-tax NPV5% of C$610 million and an IRR of 44%, with a payback period of 1.7 years. The study incorporates an updated Mineral Resource Estimate with 97% Indicated ounces in the mine plan and assumes a high gold recovery of 95.4%.
Reasoning: The updated PEA for the Goldfields project demonstrates robust after-tax economics with a high IRR and fast payback, supported by a high-confidence resource and existing infrastructure, positioning it for accelerated development. The updated MRE provides a strong foundation, though additional permitting and disclosure on closure are still needed.
Positive factors
- Strong after-tax economics with high IRR and fast payback for the PEA
- High percentage of Indicated resources (97%) in the mine plan
- Low operating costs (AISC $1,330/oz) and capital efficiency
- High gold recovery (95.4%) assumed in the PEA
- Existing infrastructure and valid EIS de-risk the project for a PEA stage
- Updated MRE provides a solid foundation and reconciles with historical production
- Premier jurisdiction (Saskatchewan)
Negative factors
- PEA-stage study carries inherent uncertainty
- Additional permits are required beyond the existing EIS
- TSF type and closure funding mechanism are undisclosed
- Slight decrease in average Indicated resource grade compared to prior estimate
Facts used in scoring: 14
Classification and evidence
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: A current resource fact retains the disclosed cut-off grade
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The source explicitly discloses a revised resource estimate
Evidence · text
“updated Mineral Resource Estimate”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("CIP")
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: 2 distinct composites were tested
Extracted facts
Stored fact records: 12. Some facts used in scoring do not have a stored record.
Resource Estimates (7)
indicatedGoldfields · goldTonnes: 16200000Grade: 1.41Grade Unit: g/tContained Metal: 734.3Contained Unit: kozView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-09-11T00:00:00.000Z
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Ron Uken, Cliff Revering
- Resource group id
- resource:b7f74da4210d19e639b5
- Deposit or zone
- Box
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 16200000
- Grade
- 1.41
- Grade Unit
- g/t
- Contained Metal
- 734.3
- Contained Unit
- koz
- Cutoff Grade
- 0.28
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-09-11
- Prior Tonnes
- 16200000
- Prior Grade
- 1.41
- Prior Contained Metal
- 734.3
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: The updated Indicated resource for the Box deposit provides a high-confidence estimate for the PEA.
Positive factors
- High confidence Indicated category
- Updated to reflect current gold price
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: Box
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The updated MRE was prepared by SRK Consulting in accordance with NI 43-101, with QPs from SRK listed.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in compliance with NI 43-101 standards.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade of 0.28 g/t gold is clearly stated for the resource estimate.
Evidence · text
“Mineral resources are reported at a cut-off grade of 0.28 g/t gold”
indicatedGoldfields · goldTonnes: 7800000Grade: 1.02Grade Unit: g/tContained Metal: 255.4Contained Unit: kozView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-09-11T00:00:00.000Z
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Ron Uken, Cliff Revering
- Resource group id
- resource:72d0e70bfeab772f027a
- Deposit or zone
- Athona
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 7800000
- Grade
- 1.02
- Grade Unit
- g/t
- Contained Metal
- 255.4
- Contained Unit
- koz
- Cutoff Grade
- 0.28
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-09-11
- Prior Tonnes
- 7000000
- Prior Grade
- 1.02
- Prior Contained Metal
- 229.6
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: The updated Indicated resource for the Athona deposit provides a high-confidence estimate for the PEA.
Positive factors
- High confidence Indicated category
- Updated to reflect current gold price
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: Athona
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The updated MRE was prepared by SRK Consulting in accordance with NI 43-101, with QPs from SRK listed.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in compliance with NI 43-101 standards.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade of 0.28 g/t gold is clearly stated for the resource estimate.
Evidence · text
“Mineral resources are reported at a cut-off grade of 0.28 g/t gold”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 255.4 against 229.6 previously
indicatedGoldfields · goldTonnes: 24000000Grade: 1.28Grade Unit: g/tContained Metal: 989.6Contained Unit: kozView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-09-11T00:00:00.000Z
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Ron Uken, Cliff Revering
- Resource group id
- resource:64c5cc3d50580daaae31
- Deposit or zone
- Total Indicated
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 24000000
- Grade
- 1.28
- Grade Unit
- g/t
- Contained Metal
- 989.6
- Contained Unit
- koz
- Cutoff Grade
- 0.28
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-09-11
- Prior Tonnes
- 23200000
- Prior Grade
- 1.31
- Prior Contained Metal
- 979.9
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: The total Indicated resource shows a slight increase in contained metal, providing a high-confidence estimate for the PEA, despite a minor grade decrease.
Positive factors
- Overall increase in contained metal (1.0%)
- High confidence Indicated category
- Updated to reflect current gold price
Negative factors
- Slight decrease in average Indicated grade (2.3%)
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Total Indicated”
Context: Athona
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The updated MRE was prepared by SRK Consulting in accordance with NI 43-101, with QPs from SRK listed.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in compliance with NI 43-101 standards.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade of 0.28 g/t gold is clearly stated for the resource estimate.
Evidence · text
“Mineral resources are reported at a cut-off grade of 0.28 g/t gold”
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 989.6 from 979.9
inferredGoldfields · goldTonnes: 3400000Grade: 1.04Grade Unit: g/tContained Metal: 114.1Contained Unit: kozView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-09-11T00:00:00.000Z
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Ron Uken, Cliff Revering
- Resource group id
- resource:f02aa42251e5a8a4572d
- Deposit or zone
- Box
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 3400000
- Grade
- 1.04
- Grade Unit
- g/t
- Contained Metal
- 114.1
- Contained Unit
- koz
- Cutoff Grade
- 0.28
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-09-11
- Prior Tonnes
- 3400000
- Prior Grade
- 1.04
- Prior Contained Metal
- 114.1
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: The updated Inferred resource for the Box deposit provides a baseline estimate, though with lower confidence than Indicated resources.
Positive factors
- Updated to reflect current gold price
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Box
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The updated MRE was prepared by SRK Consulting in accordance with NI 43-101, with QPs from SRK listed.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in compliance with NI 43-101 standards.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade of 0.28 g/t gold is clearly stated for the resource estimate.
Evidence · text
“Mineral resources are reported at a cut-off grade of 0.28 g/t gold”
inferredGoldfields · goldTonnes: 4000000Grade: 0.78Grade Unit: g/tContained Metal: 100.1Contained Unit: kozView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-09-11T00:00:00.000Z
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Ron Uken, Cliff Revering
- Resource group id
- resource:ef6989409bbefe62e7a4
- Deposit or zone
- Athona
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 4000000
- Grade
- 0.78
- Grade Unit
- g/t
- Contained Metal
- 100.1
- Contained Unit
- koz
- Cutoff Grade
- 0.28
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-09-11
- Prior Tonnes
- 3700000
- Prior Grade
- 0.78
- Prior Contained Metal
- 92.7
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: The updated Inferred resource for the Athona deposit provides a baseline estimate, though with lower confidence than Indicated resources.
Positive factors
- Updated to reflect current gold price
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: Athona
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The updated MRE was prepared by SRK Consulting in accordance with NI 43-101, with QPs from SRK listed.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in compliance with NI 43-101 standards.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade of 0.28 g/t gold is clearly stated for the resource estimate.
Evidence · text
“Mineral resources are reported at a cut-off grade of 0.28 g/t gold”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 100.1 against 92.7 previously
inferredGoldfields · goldTonnes: 7400000Grade: 0.9Grade Unit: g/tContained Metal: 214.2Contained Unit: kozView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-09-11T00:00:00.000Z
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Ron Uken, Cliff Revering
- Resource group id
- resource:a3303c32c7ac123689ac
- Deposit or zone
- Total Inferred
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 7400000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 214.2
- Contained Unit
- koz
- Cutoff Grade
- 0.28
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-09-11
- Prior Tonnes
- 7100000
- Prior Grade
- 0.92
- Prior Contained Metal
- 210.8
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: The total Inferred resource shows a slight increase in contained metal, though with lower confidence than Indicated resources and a minor grade decrease.
Positive factors
- Overall increase in contained metal (1.6%)
- Updated to reflect current gold price
Negative factors
- Slight decrease in average Inferred grade (2.2%)
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Total Inferred”
Context: Athona
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The updated MRE was prepared by SRK Consulting in accordance with NI 43-101, with QPs from SRK listed.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in compliance with NI 43-101 standards.
Evidence · text
“The updated MRE was prepared by SRK Consulting ( Canada ) Inc. ("SRK") in accordance with CIM Guidelines and NI 43-101.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade of 0.28 g/t gold is clearly stated for the resource estimate.
Evidence · text
“Mineral resources are reported at a cut-off grade of 0.28 g/t gold”
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 214.2 from 210.8
Fact 7Uranium CityView all detailsHide details
Identity
- Project
- Uranium City
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Resource scope
- Estimate type
- resource
- Resource group id
- resource:38fbc1245a7c4219ff7e
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: Explicit resource disclosure recovered from source prose.
Evidence · text
“Mineral Resources An updated Mineral Resource Estimate ("MRE"), effective date September 11, 2025 , was completed as part of the Updated PEA to reflect a slightly lower cut-off grade due to increases in the gold price.”
Tags used in scoring
Cut-off Lowerednegative
Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation.
Why it applies: Mineral Resources An updated Mineral Resource Estimate ("MRE"), effective date September 11, 2025 , was completed as part of the Updated PEA to reflect a slightly lower cut-off grade due to increases in the gold price.
Evidence · text
“Mineral Resources An updated Mineral Resource Estimate ("MRE"), effective date September 11, 2025 , was completed as part of the Updated PEA to reflect a slightly lower cut-off grade due to increases in the gold price.”
Context: Uranium City, Saskatchewan
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Metallurgical Results (5)
mill_cilGoldfields · goldRecovery: 95.4 %View all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Test Work
- Program Status
- detailed
- Test Type
- mill_cil
- Processing Route
- Whole ore leach with gravity recovery and carbon-in-pulp (CIP)
Recovery
- Recovery
- 95.4 %
- Recovery Basis
- unspecified
Lab
- Laboratory
- SGS Canada - Lakefield
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: The PEA assumes a very high gold recovery for the whole ore leach with gravity and CIP process, contributing positively to project economics.
Positive factors
- Very high gold recovery (95.4%) for a mill/CIP route
Negative factors
- Recovery basis unspecified for the PEA assumption
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: The assumed gold recovery of 95.4% is at the exceptional tier for a mill/CIL processing route.
Evidence · table
“95.4”
Context: Mill Gold Recovery
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing route involves whole ore leach with gravity recovery and carbon-in-pulp (CIP).
Evidence · text
“Whole ore leach with gravity recovery and carbon-in-pulp (CIP)”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
mill_cilGoldfields · goldRecovery: 95.9 %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Test Work
- Program Status
- detailed
- Test Type
- mill_cil
- Processing Route
- Whole ore leach with gravity recovery and carbon-in-pulp (CIP)
- Sample
- Box deposit
Recovery
- Recovery
- 95.9 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Canada - Lakefield
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2015-01-01T00:00:00.000Z
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: Historical testwork from 2015 on the Box deposit demonstrated excellent gold recovery for the mill/CIP process.
Positive factors
- Very high gold recovery (95.9%) for a mill/CIP route
Negative factors
- Historical data from 2015
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: The gold recovery of 95.9% is at the exceptional tier for a mill/CIL processing route.
Evidence · text
“Average recoveries of 95.9% at Box”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing route involves whole ore leach with gravity recovery and carbon-in-pulp (CIP).
Evidence · text
“Whole ore leach with gravity recovery and carbon-in-pulp (CIP)”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
mill_cilGoldfields · goldRecovery: 93.5 %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Test Work
- Program Status
- detailed
- Test Type
- mill_cil
- Processing Route
- Whole ore leach with gravity recovery and carbon-in-pulp (CIP)
- Sample
- Athona deposit
Recovery
- Recovery
- 93.5 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Canada - Lakefield
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2015-01-01T00:00:00.000Z
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: Historical testwork from 2015 on the Athona deposit showed strong gold recovery for the mill/CIP process.
Positive factors
- High gold recovery (93.5%) for a mill/CIP route
Negative factors
- Historical data from 2015
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: The gold recovery of 93.5% is at the strong tier for a mill/CIL processing route.
Evidence · text
“and 93.5% at Athona”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing route involves whole ore leach with gravity recovery and carbon-in-pulp (CIP).
Evidence · text
“Whole ore leach with gravity recovery and carbon-in-pulp (CIP)”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
gravityGoldfields · goldHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Test Work
- Program Status
- preliminary
- Test Type
- gravity
- Processing Route
- gravity recovery
Recovery
- Conc. Grade
- 1000
- Conc. Grade Unit
- g/t
Lab
- Laboratory
- SGS Canada - Lakefield
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2019-01-01T00:00:00.000Z
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: Historical testwork from 2019 demonstrated the potential for very high-grade gravity concentrates, supporting a potential staged development, though further studies are ongoing.
Positive factors
- Very high-grade gravity concentrate (>1,000 g/t)
- Indicates potential for accelerated production pathway
Negative factors
- Historical data from 2019
- New studies underway to optimize and assess marketability
Tags used in scoring
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: The testwork demonstrated potential for gravity coarse gold concentrates.
Evidence · text
“gravity coarse gold concentrates >1,000 g/t”
flotationGoldfields · goldHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Goldfields
- Commodity
- gold
- Region
- canada_sk
- Reported Region
- Saskatchewan
- Ticker
- FOR
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- sulphide flotation
Recovery
- Conc. Grade
- 200
- Conc. Grade Unit
- g/t
Lab
- Laboratory
- SGS Canada - Lakefield
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2019-01-01T00:00:00.000Z
Dates
- Event date
- 2025-09-23T00:00:00.000Z
Reasoning: Historical testwork from 2019 showed potential for high-grade sulphide flotation concentrates, supporting a potential staged development, though further studies are ongoing.
Positive factors
- High-grade sulphide flotation concentrate (>200 g/t)
- Indicates potential for accelerated production pathway
Negative factors
- Historical data from 2019
- New studies underway to optimize and assess marketability
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The testwork demonstrated potential for sulphide flotation concentrates.
Evidence · text
“sulphide flotation concentrates >200 g/t”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.