PhotonAssay gets Canadian gold explorer tick

Top image :
Off and running ... MSALABS' Val-d’Or lab in Quebec, Canada
‘We are excited to partner with Chrysos and MSALABS to apply this technology’

Canadian gold explorer New Found Gold says comparisons of PhotonAssay and conventional fire assay test results show the former to be an “appropriate technique for determining gold content” in samples from drilling at its flagship Queensway project in Newfoundland. It will now up the flow of samples to MSALABS in Val-d’Or, Quebec, for PhotonAssaying “to ensure the most efficient turnaround times on assays”.

“We are … excited to debut the use of the Chrysos PhotonAssay method following several months of testwork,” New Found vice-president exploration, Melissa Render said.

“The PhotonAssay method is efficient, non-destructive, cost effective, and environmentally friendly.

“We are excited to partner with Chrysos and MSALABS to apply this technology at Queensway.”

Well-funded New Found has a massive drilling program underway at Queensway, with 14 rigs hunting for more high-grade orogenic gold along the regionally significant Appleton and JBP faults. The company has had strong backing from billionaire Canadian precious metals investor Eric Sprott, and Vancouver merchant bank, Palisades Goldcorp.

Veteran assay quality control expert and president of Ontario-based Analytical Solutions, Lynda Bloom said New Found conducted a thorough evaluation of PhotonAssay by doing extensive testing against fire assay determinations.

“Even though over three million PhotonAssays have been reported worldwide to date, it was important to prove to management that the method does not bias gold results with respect to fire assay for Queensway samples,” said Bloom, who has advised New Found on its QC programs and who has evaluated PhotonAssay data for several other projects.

New Found Gold said it tested hundreds of samples “in the low, mid, and high-grade range” and found “very strong correspondence” between PhotonAssay and fire assay results.

“Moving forward, the company will use the PhotonAssay method … as well as ALS Minerals’ Vancouver laboratory for traditional fire assay and screen fire determination,” New Found said

“The ongoing QC program will include analysis of some samples by both methods to monitor accuracy.”

Australian Securities Exchange-listed Chrysos Corporation is promoting PhotonAssay, developed in Australia by the national CSIRO science organisation, as a “chemical-free, non‑destructive technology that supersedes the traditional fire‑assay method for measuring gold concentrations in samples”.

Chrysos listed on the ASX in May this year and is currently capitalised at about A$195 million.

It is chasing a market potentially worth more than US$1 billion a year for its PhotonAssay rock X-ray machines.

 

Leave a Reply

Latest News
[stock-market-ticker]

Not registered? Register Now

Powered By MemberPress WooCommerce Plus Integration