# Tiernan Continues to Advance Volcan Pre-Feasibility Study and Initiates Environmental Baseline Program Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/tiernan-continues-to-advance-volcan-pre-feasibility-study-and-initiates-environm--5cd32623-f88a-4d4b-944b-7b605031635f Original source: https://www.newsfilecorp.com/release/318842/Tiernan-Continues-to-Advance-Volcan-PreFeasibility-Study-and-Initiates-Environmental-Baseline-Program Publisher: newsfile Original announcement: 2026-10-14T10:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-14T10:33:05.130Z Atlas analysis updated: 2026-10-14T10:33:05.130Z - Company: Tiernan Gold Corp. - Ticker: TNGD - Exchange: Unavailable - Region: Atacama Region, Chile - Primary commodity: Gold - Secondary commodities: Copper - Document categories: Other, Metallurgy, Permitting - Extracted: 2026-10-14 10:33:05 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Tiernan Gold Corp. is advancing its Volcan Gold Project through a Pre-Feasibility Study \(PFS\) and the initiation of an environmental baseline program in Chile. Key updates include encouraging early HPGR metallurgical results, a large-scale BLEG campaign to improve recovery modeling, and the commencement of environmental field-work to support a 2027 EIA submission. Reasoning: The company is making multi-disciplinary progress on the Volcan Gold Project, specifically advancing the PFS, metallurgical testing, and environmental permitting workstreams. - Positive factor: Advancement of Pre-Feasibility Study \(PFS\) - Positive factor: Encouraging early HPGR metallurgical kinetics - Positive factor: Initiation of environmental baseline program - Positive factor: Strong cash position of US$36.2 million - Negative factor: Metallurgical response varies materially across the deposit - Negative factor: Environmental permitting \(EIA\) remains a future milestone Facts used in scoring: 3 ## Classification and evidence **Resource Update** Polarity: neutral Story-specific tag Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: Company is working toward an updated MRE to be published alongside the PFS in H1 2027. Evidence · text > building toward an updated Mineral Resources Estimate \("MRE"\) which the Company expects to publish alongside the Pre-Feasibility Study \("PFS"\) **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The metallurgical program includes CIC and SART testing. Evidence · text > process-design support for carbon-in-column \("CIC"\) and Sulphidization, Acidification, Recycling and Thickening \("SART"\) **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: the document describes a heap\_leach route \("heap leach"\) **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: 3. Some facts used in scoring do not have a stored record. ## Metallurgical Results (3) ### bottle roll [Link to this fact](https://atlas-staging.minestarters.com/news/tiernan-continues-to-advance-volcan-pre-feasibility-study-and-initiates-environm--5cd32623-f88a-4d4b-944b-7b605031635f#fact-metallurgical-facts-0) gold #### Identity - Commodity: gold - Region: chile - Reported Region: Atacama Region, Chile - Ticker: TNGD #### Test Work - Program Status: preliminary - Test Type: bottle roll - Processing Route: HPGR-crushed coarse-ore bottle-roll - Sample: HPGR-crushed coarse-ore bottle-roll results #### Lab - Laboratory: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Initial results from HPGR-crushed material show encouraging kinetics compared to conventional crushing. - Positive factor: Confirms rapid gold dissolution - Negative factor: Early indication only; cannot show deposit-wide variability Evidence · text > Initial SGS Canada Inc. \("SGS"\) coarse-ore bottle-roll results from HPGR-crushed material confirms rapid gold dissolution ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/tiernan-continues-to-advance-volcan-pre-feasibility-study-and-initiates-environm--5cd32623-f88a-4d4b-944b-7b605031635f#fact-metallurgical-facts-1) gold #### Identity - Commodity: gold - Region: chile - Reported Region: Atacama Region, Chile - Ticker: TNGD #### Test Work - Sample: Phase I diagnostic leach results #### Recovery - Recovery: 42.3 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Historical Phase I results show significant variability in cyanide-soluble gold. - Negative factor: Wide range of variability noted Evidence · text > The Phase I disclosed range of 42.3% to 92.8% cyanide-soluble gold #### Tags used in scoring **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 42.3% is below the weak band \(80%\) ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/tiernan-continues-to-advance-volcan-pre-feasibility-study-and-initiates-environm--5cd32623-f88a-4d4b-944b-7b605031635f#fact-metallurgical-facts-2) gold #### Identity - Commodity: gold - Region: chile - Reported Region: Atacama Region, Chile - Ticker: TNGD #### Test Work - Sample: Phase I diagnostic leach results #### Recovery - Recovery: 92.8 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Historical Phase I results show significant variability in cyanide-soluble gold. - Negative factor: Wide range of variability noted Evidence · text > The Phase I disclosed range of 42.3% to 92.8% cyanide-soluble gold ## 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.