A 12-Million-Tonne Sulfide Mill Now Leads the Gabbs Plan From Year 3
Original announcement by cruxinvestor on
- Company
- P2 Gold
- Ticker
- PGLD
- Exchange
- Unavailable
- Region
- Nevada
- Primary commodity
- Gold
- Secondary commodities
- Copper, Silver
- Document categories
- Other, Metallurgy
- Extracted
- 2026-10-07 18:11:24 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
P2 Gold has revised its Gabbs feasibility study to prioritize a 12 million tonne per year sulfide mill starting in year 3, replacing the previous heap-leach-heavy strategy. This shift aims to capture higher gold and copper recoveries from sulfide mineralization identified through recent drilling.
Reasoning: The document details a major revision to the Gabbs feasibility study, pivoting from a heap-leach-dominant plan to a large-scale sulfide mill-led plan, which significantly improves projected metal recoveries and throughput.
Positive factors
- Significant increase in mill throughput from 5 Mtpa to 12 Mtpa
- Higher estimated gold recovery (94.5% vs 85%) by shifting focus to sulfide milling
- Improved copper recovery (79.9% vs 67%) via mill route
- Defined new higher-grade gold-copper corridor at Lucky Strike
Negative factors
- Feasibility study is still in progress (due Q1 2027)
- Metallurgical test work (locked-cycle flotation) is still ongoing
Facts used in scoring: 4
Classification and evidence
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The revised plan centers on a 12 Mtpa sulfide mill using flotation.
Evidence · text
“The FS will now proceed with a mill that starts up in year 3”
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: The plan includes a heap leach for oxide ore in parallel with the mill.
Evidence · text
“alongside a heap leach that scales back once the mill is running”
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: 4. Some facts used in scoring do not have a stored record.
Metallurgical Results (4)
flotationGabbs · goldRecovery: 94.5 %View all detailsHide details
Identity
- Project
- Gabbs
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- PGLD
Test Work
- Program Status
- optimization
- Test Type
- flotation
- Processing Route
- flotation
- Sample
- sulfide mineralization milling
Recovery
- Recovery
- 94.5 %
- Recovery Basis
- unspecified
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-07T00:00:00.000Z
Reasoning: 94.5% gold recovery is strong for a mill route.
Positive factors
- High recovery rate for sulfide ore
Evidence · text
“Milling the sulfide mineralization is estimated to recover 94.5% of the gold”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
flotationGabbs · copperRecovery: 79.9 %View all detailsHide details
Identity
- Project
- Gabbs
- Commodity
- copper
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- PGLD
Test Work
- Program Status
- optimization
- Test Type
- flotation
- Processing Route
- flotation
- Sample
- sulfide mineralization milling
Recovery
- Recovery
- 79.9 %
- Recovery Basis
- unspecified
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-07T00:00:00.000Z
Reasoning: 79.9% copper recovery via flotation is a solid estimate for sulfide ore.
Positive factors
- Significant improvement over heap leach copper recovery
Evidence · text
“and 79.9% of the copper”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 79.9% is below the weak band (80%)
heap_leachGabbs · goldRecovery: 85 %View all detailsHide details
Identity
- Project
- Gabbs
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- PGLD
Test Work
- Program Status
- optimization
- Test Type
- heap_leach
- Sample
- oxide mineralization heap leaching
Recovery
- Recovery
- 85 %
- Recovery Basis
- unspecified
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-07T00:00:00.000Z
Reasoning: 85% recovery is standard for heap leach but inferior to the proposed mill route.
Negative factors
- Lower recovery compared to mill route
Evidence · text
“Heap leaching of the oxide mineralization is estimated to recover 85% of the gold”
heap_leachGabbs · copperRecovery: 67 %View all detailsHide details
Identity
- Project
- Gabbs
- Commodity
- copper
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- PGLD
Test Work
- Program Status
- optimization
- Test Type
- heap_leach
- Sample
- oxide mineralization heap leaching
Recovery
- Recovery
- 67 %
- Recovery Basis
- unspecified
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-07T00:00:00.000Z
Reasoning: 67% recovery for copper via heap leach is on the lower end of expected ranges.
Negative factors
- Relatively low copper recovery
Evidence · text
“and 67% of the copper”
Tags used in scoring
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 67% is below the weak band (80%)
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.