# Fortune Minerals confirms gold recovery from NICO concentrates Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/fortune-minerals-confirms-gold-recovery-from-nico-concentrates--71b576aa-89a7-4cd7-a675-8c9572c242fb Original source: https://money.tmx.com/en/quote/FT/news/4943541594903105/fortune-minerals-confirms-gold-recovery-from-nico-concentrates Publisher: tmx Original announcement: 2019-05-03T15:36:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Fortune Minerals Limited - Ticker: FT - Exchange: TSX - Region: Northwest Territories - Primary commodity: Cobalt - Secondary commodities: Gold, Bismuth, Copper - Document categories: Metallurgy - Extracted: 2026-09-17 23:12:13 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Fortune Minerals has successfully validated that gold can be recovered from cobalt and bismuth flotation concentrates at the NICO project site. This metallurgical milestone enables a lower capital cost start-up option by allowing the company to sell concentrates without significant loss of gold revenue. Reasoning: The metallurgical results validate a key strategic flexibility for the NICO project: the ability to sell concentrates while still capturing gold revenue, potentially deferring high-CAPEX refinery construction. - Positive factor: Validation of gold recovery from concentrates enables lower CAPEX start-up option - Positive factor: Successful verification of gold recovery via cyanide leach on cobalt and bismuth concentrates - Positive factor: Improved gold recovery model incorporating gravity and flotation results Facts used in scoring: 2 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: Testing involved gravity and flotation to produce concentrates for subsequent cyanide leaching. Evidence · text > The subsequent SGS program included both gravity and flotation tests **QA/QC Disclosed** Polarity: positive Story-specific tag Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: Testing was conducted at the accredited SGS Canada Ltd. facilities. Evidence · text > Metallurgical test work was completed at the Lakefield, Ontario facilities of SGS Canada Ltd. **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: 2 distinct composites were tested ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Metallurgical Results (2) ### gravity and flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/fortune-minerals-confirms-gold-recovery-from-nico-concentrates--71b576aa-89a7-4cd7-a675-8c9572c242fb#fact-metallurgical-facts-0) NICO · gold #### Identity - Project: NICO - Commodity: gold - Region: northwest territories - Reported Region: Northwest Territories - Ticker: FT #### Test Work - Program Status: detailed - Test Type: gravity and flotation - Processing Route: flotation - Sample: higher grade ores #### Recovery - Recovery: 88 % - Recovery Basis: actual\_test - Head Grade: 5 - Head Grade Unit: g/t #### Lab - Laboratory: SGS Canada Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-05-03T00:00:00.000Z Reasoning: The 88% recovery from 5 g/t gold ore is a strong result for the combined gravity and flotation circuit. - Positive factor: High recovery \(88%\) achieved on higher grade ores Evidence · text > combined gravity and bulk flotation tests indicated an 88% recovery from higher grade ores of approximately 5 grams of gold per tonne #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### cyanide leach [Link to this fact](https://atlas-extractions.minestarters.com/news/fortune-minerals-confirms-gold-recovery-from-nico-concentrates--71b576aa-89a7-4cd7-a675-8c9572c242fb#fact-metallurgical-facts-1) NICO · gold #### Identity - Project: NICO - Commodity: gold - Region: northwest territories - Reported Region: Northwest Territories - Ticker: FT #### Test Work - Program Status: detailed - Test Type: cyanide leach - Sample: cobalt and bismuth concentrates after secondary flotation #### Recovery - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-05-03T00:00:00.000Z Reasoning: While specific percentages for the separate concentrate leach tests aren't provided, the qualitative 'good gold recoveries' validates the strategic option. - Positive factor: Confirmed gold recovery from concentrates enables concentrate sale option Evidence · text > demonstrated good gold recoveries can be achieved at the mine site and confirms that Fortune can sell these concentrates without significant impairment to the gold revenue stream #### Tags used in scoring **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## 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.