# Tiernan Gold Continues to Advance Volcan Pre-Feasibility Study and Initiates Environmental Baseline Program Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/tiernan-gold-continues-to-advance-volcan-pre-feasibility-study-and-initiates-env--b702e262-4d0d-4556-a3a9-c4388498009f Original source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/3455-tsx-venture/tngd/212838-tiernan-continues-to-advance-volcan-pre-feasibility-study-and-initiates-environmental-baseline-program.html Publisher: jmn Original announcement: 2026-10-14T23:10:03.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-14T12:28:42.259Z Atlas analysis updated: 2026-10-14T12:28:42.259Z - Company: Tiernan Gold Corp. - Ticker: TNGD - Exchange: TSXV - Region: Atacama Region, Chile - Primary commodity: Gold - Secondary commodities: Copper - Document categories: Other, Metallurgy, Permitting - Extracted: 2026-10-14 12:28:42 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Tiernan Gold is advancing its Volcan Gold Project in Chile towards a Pre-Feasibility Study \(PFS\) expected in H1 2027. Key activities include a large-scale BLEG metallurgical campaign, HPGR crushing tests showing rapid gold dissolution, and the initiation of an environmental baseline program. Reasoning: The company is making multi-disciplinary progress on its Volcan project, specifically advancing the PFS through metallurgical testing, geological re-logging, and environmental baseline work. - Positive factor: Advancing towards PFS with updated geological understanding - Positive factor: Encouraging early HPGR metallurgical kinetics - Positive factor: Strong cash position of US$36.2 million - Positive factor: Permits in hand for environmental baseline mobilization - Negative factor: Metallurgical response varies materially across the deposit \(42.3% to 92.8% cyanide-soluble gold\) Facts used in scoring: 3 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The company is advancing towards CIC and SART processing routes. Evidence · text > process-design support for carbon-in-column \("CIC"\) and Sulphidization, Acidification, Recycling and Thickening \("SART"\) **Resource Update** Polarity: neutral Story-specific tag Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The company is working toward an updated Mineral Resources Estimate \(MRE\) to be published in H1 2027. Evidence · text > building toward an updated Mineral Resources Estimate \("MRE"\) which the Company expects to publish alongside the Pre-Feasibility Study \("PFS"\) **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) ### leach [Link to this fact](https://atlas-staging.minestarters.com/news/tiernan-gold-continues-to-advance-volcan-pre-feasibility-study-and-initiates-env--b702e262-4d0d-4556-a3a9-c4388498009f#fact-metallurgical-facts-0) Volcan Gold Project · gold #### Identity - Project: Volcan Gold Project - Commodity: gold - Region: chile - Reported Region: Atacama Region, Chile - Ticker: TNGD #### Test Work - Program Status: preliminary - Test Type: leach - Sample: Phase 1 cyanide-soluble gold #### Recovery - Recovery: 42.3 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Represents the lower end of the reported cyanide-soluble gold range. - Negative factor: Lower bound of soluble gold is relatively low at 42.3% Evidence · text > 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 \(80%\) ### leach [Link to this fact](https://atlas-staging.minestarters.com/news/tiernan-gold-continues-to-advance-volcan-pre-feasibility-study-and-initiates-env--b702e262-4d0d-4556-a3a9-c4388498009f#fact-metallurgical-facts-1) Volcan Gold Project · gold #### Identity - Project: Volcan Gold Project - Commodity: gold - Region: chile - Reported Region: Atacama Region, Chile - Ticker: TNGD #### Test Work - Program Status: preliminary - Test Type: leach - Sample: Phase 1 cyanide-soluble gold #### Recovery - Recovery: 92.8 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Represents the upper end of the reported cyanide-soluble gold range. - Positive factor: High end of soluble gold range is very strong Evidence · text > Phase I disclosed range of 42.3% to 92.8% cyanide-soluble gold ### bottle roll [Link to this fact](https://atlas-staging.minestarters.com/news/tiernan-gold-continues-to-advance-volcan-pre-feasibility-study-and-initiates-env--b702e262-4d0d-4556-a3a9-c4388498009f#fact-metallurgical-facts-2) Volcan Gold Project · gold #### Identity - Project: Volcan Gold Project - Commodity: gold - Region: chile - Reported Region: Atacama Region, Chile - Ticker: TNGD #### Test Work - Program Status: preliminary - Test Type: bottle roll - Sample: HPGR-crushed coarse-ore bottle-roll results #### Recovery - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: Early kinetics are encouraging for the preferred crushing method. - Positive factor: Confirms rapid gold dissolution with HPGR crushing Evidence · text > confirms rapid gold dissolution and improved recovery across five tested composites ## 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.