Fortune Minerals confirms gold recovery from NICO concentrates
Original announcement by tmx on
- Company
- Fortune Minerals Limited
- Ticker
- FT
- Exchange
- TSX
- Region
- Northwest Territories
- Primary commodity
- Cobalt
- Secondary commodities
- Gold, Bismuth
- Document categories
- Metallurgy
- Extracted
- 2026-08-25 10:50:31 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Fortune Minerals has successfully verified that gold can be recovered from cobalt and bismuth flotation concentrates at the NICO project. This result supports a lower-capital start-up option of selling concentrates rather than building a full refinery immediately.
Reasoning: The metallurgical results validate a key strategic option to sell cobalt/bismuth concentrates while still capturing gold revenue, reducing initial capital requirements.
Positive factors
- Confirms gold recovery from concentrates
- Enables lower CAPEX start-up option (selling concentrates)
- Successful validation of secondary flotation/leach sequence
Negative factors
- Requires specific sequencing (leach after secondary flotation) to maintain bismuth separation
Facts used in scoring: 2
Classification and evidence
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: Testing involved flotation and cyanide leach processes.
Evidence · text
“included both gravity and flotation tests”
Free Millingpositive
Simple, clean ore amenable to standard processing without oxidation.
Why it applies: Gold is recoverable via standard cyanide leaching of concentrates.
Evidence · text
“verifying that gold can be recovered from its cobalt and bismuth flotation concentrates”
Extracted facts
Stored fact records: 2. Some facts used in scoring do not have a stored record.
Metallurgical Results (2)
gravity and flotationgoldRecovery: 88 %Head Grade: 5Head Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- FT
Test Work
- Program Status
- detailed
- Test Type
- gravity and flotation
- Processing Route
- gravity and bulk flotation
- Sample
- higher grade ores of approximately 5 grams of gold per tonne
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: Confirmed 88% recovery on 5 g/t Au feed via gravity and flotation.
Positive factors
- 88% recovery is strong for high-grade ore
Evidence · text
“combined gravity and bulk flotation tests indicated an 88% recovery from higher grade ores of approximately 5 grams of gold per tonne”
cyanide leachgoldView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- FT
Test Work
- Program Status
- detailed
- Test Type
- cyanide leach
- Processing Route
- cyanide leach after secondary flotation
- Sample
- cobalt and bismuth concentrates
Recovery
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2019-05-03T00:00:00.000Z
Reasoning: Cyanide leach tests on concentrates demonstrated good gold recoveries can be achieved at the mine site.
Positive factors
- Confirms gold revenue can be maintained while selling concentrates
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”
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.