# Fortune Minerals confirms gold recovery from NICO concentrates

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/fortune-minerals-confirms-gold-recovery-from-nico-concentrates--9472bacd-72c0-4d79-b8d7-b4bdf06f2306

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

- Document categories: Metallurgy

- Extracted: 2026-08-25 10:50:31 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas 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 factor: Confirms gold recovery from concentrates

- Positive factor: Enables lower CAPEX start-up option \(selling concentrates\)

- Positive factor: Successful validation of secondary flotation/leach sequence

- Negative factor: Requires specific sequencing \(leach after secondary flotation\) to maintain bismuth separation

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 flotation and cyanide leach processes.

Evidence · text

> included both gravity and flotation tests

**Free Milling**

Polarity: positive

Definition: 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 flotation

[Link to this fact](https://atlas-staging.minestarters.com/news/fortune-minerals-confirms-gold-recovery-from-nico-concentrates--9472bacd-72c0-4d79-b8d7-b4bdf06f2306#fact-metallurgical-facts-0)

gold

#### 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 factor: 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 leach

[Link to this fact](https://atlas-staging.minestarters.com/news/fortune-minerals-confirms-gold-recovery-from-nico-concentrates--9472bacd-72c0-4d79-b8d7-b4bdf06f2306#fact-metallurgical-facts-1)

gold

#### 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 factor: 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.