P2 Gold Announces Positive Interim Metallurgical Results
VANCOUVER, BC, June 16, 2025 /CNW/ - P2 Gold Inc. ("P2" or the "Company") (TSXV: PGLD) (OTCQB: PGLDF) reports positive interim test results from the metallurgical program underway for its gold-copper Gabbs Project located on the Walker-Lane Trend in Nevada.
The Company retained Kappes, Cassiday & Associates ("KCA") in Reno, Nevada to carry out the Phase Three Metallurgical Program, which is focused on increasing copper and gold recoveries of the oxide mineralization and providing a marketing sample of the copper-silver SART (sulphidization, acidification, recycling and thickening) concentrate.
After 58 days of leaching, the metal recoveries of the Phase 3 Metallurgical Program are far exceeding the recoveries from the Phase Two Metallurgical Program and are exceeding the recoveries used in the May 2024 Preliminary Economic Assessment on the Gabbs Project. See Table 1 below for a comparison of the Phase Three results at 58 days to the Phase Two results at 58 days and the recoveries used in the 2024 Preliminary Economic Assessment.
Table 1: Comparison of Interim Oxide Samples Column Test Leach Results at Day 58 (1)(2)
(1)
Samples were submitted for preparation and multi-element analysis by KCA. All samples were analyzed using multi-acid digestion with ICP finish for silver and copper and fire assay with AA finish for gold.
(2)
Interim recoveries based are on standard assaying protocols and will be subject to change at the end of the program when tail assays are available and incorporated into the calculated head assays.
(3)
See P2 Gold news release dated May 22, 2024, and the Gabbs Technical Report dated May 17, 2024 available under the Company's profile on SEDAR+ at www.sedarplus.com and on the Company's website at www.p2gold.com.
"The Phase Three Metallurgical Program was established with a target of improving the leach kinetics and overall extraction by adding cyanide during agglomeration and by increasing the cyanide concentration in the leach solutions," commented Joe Ovsenek, President & CEO of P2. "Interim test results indicate that all metals are leaching significantly faster than the prior tests, with metal recoveries exceeding those used in our May 2024 PEA and still increasing."
The Phase Three Metallurgical Program is expected to continue for another 30 to 60 days to achieve maximum recoveries. Final metallurgical recoveries will be announced upon completion of the program.
Prior Metallurgical Programs
The Phase One Metallurgical Program included testing for the potential recoveries of copper and gold from oxide mineralization by sequential leach using heap leach or conventional milling. The test work showed that gold and copper can be recovered by both process options, with extractions averaging 97.2% for gold and 95.2% for copper when the sample is ground to 100 microns. (See P2's news release of August 4, 2021.)
The Phase Two metallurgical program, also conducted by KCA, was focused on determining the preferred extraction process for the Gabbs mineralization. Based on the results of that program, KCA proposed that the oxide material be heap leached and gold recovered as a salable doré and cyanide soluble copper produced as a salable copper sulphide concentrate. Column test leach results ranged up to 89% for gold and 62% for copper. The average extraction for the three column tests was 82% for gold and 50% for copper. (See P2's news release of May 13, 2022.)
Qualified Person
Ken McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, P2 Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Gabbs Project. Mr. McNaughton has reviewed, verified, and approved the scientific and technical information in this news release.
About P2 Gold Inc.
P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2-year mine life. The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical testing is underway, and a water permit is expected in the second quarter of this year. All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready.
Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, information with respect to the Company's expectations, strategies and plans for its Gabbs Project including the Company's planned expenditures and exploration activities.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, the estimated internal rate of return and net present value at a 5% discount rate of the Gabbs Project, as well as the other assumptions disclosed in this news release. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information, including without limitation, the estimates and assumptions contained in the Gabbs Technical Report dated May 17, 2024, and risks associated with mineral exploration, including the risk that actual results and timing of exploration and development will be different from those expected by management. See "Risk Factors" in the Company's annual information form for the year ended December 31, 2024, dated March 21, 2025 filed on SEDAR+ at www.sedarplus.com for a discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
SOURCE P2 Gold Inc.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
2 hours ago
- Cision Canada
enCore Energy Announces Filing of Early Warning Report
DALLAS, June 20, 2025 /CNW/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the"Company" or "enCore"), America's Clean Energy Company ™, announces that it has disposed of 170,000,000 common shares in the capital of Anfield Energy Inc. (" Anfield") (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) in a private agreement at a price of $0.115 per share for aggregate proceeds of $19,550,000 (Canadian dollars). Immediately following the disposition, enCore holds or controls no common shares of Anfield. The disposition represents a 14.73% decrease in enCore's ownership or control over the outstanding common shares of Anfield on an undiluted basis. enCore does not currently hold or control any securities of Anfield. Since enCore's last early warning report dated January 15, 2024, enCore's holdings have decreased by an approximate 16.02% of the outstanding common shares of Anfield on an undiluted basis. enCore disposed of the shares of Anfield in a private transaction. enCore may, depending on market and other conditions, increase beneficial ownership of the Company's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities. The disclosure respecting enCore's shareholdings contained in this news release is made pursuant to National Instrument 62-103 and a report respecting the above disposition will be filed with the applicable securities commissions and will be available for viewing at A copy of the report may also be obtained by contacting Robert Willette, Acting Chief Executive Officer, or at [email protected]. About enCore Energy Corp. enCore Energy Corp., America's Clean Energy Company ™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple central processing plants in operation. enCore operates the 100% owned and operated Rosita CPP in South Texas and the 70/30 joint venture Alta Mesa CPP with Boss Energy Ltd., with enCore operating as the project manager. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments.
Cision Canada
2 hours ago
- Cision Canada
SILVER VIPER COMPLETES ACQUISITION OF CIMARRON GOLD-COPPER PROJECT
VANCOUVER, BC, June 20, 2025 /CNW/ - Silver Viper Minerals Corp. (" Silver Viper" or the " Company") (TSXV: VIPR) (OTC: VIPRF) is pleased to announce that, further to its news release dated May 8, 2025, the Company has acquired the Cimarron Project in Sinaloa, Mexico, a property hosting a porphyry gold-copper system (the " Transaction"), from CSAC Holdings Inc. (" CSAC"). Pursuant to the terms of a purchase agreement dated May 8, 2025, between the Company, CSAC and all of the shareholders of CSAC (the " Vendors"), Silver Viper acquired all of the outstanding common shares of CSAC from the Vendors in exchange for 9,000,000 common shares at a deemed price of $0.20 per share, of Silver Viper (the " Shares"). The Shares issued to the arm's length Vendors are not subject to a hold period under applicable Canadian securities laws and no finders' fees were paid in connection with the Transaction. Highlights of the Cimarron Project The Cimarron Project is located on the prolific porphyry belt from Arizona to Jalisco and is situated in the well-established mining jurisdiction of Mexico. The Cimarron Project lies between Mazatlán and Rosario in Sinaloa and is accessible via an 11-kilometre dirt road from a nearby paved road. The area is relatively flat, with low topographic contrast, supporting ease of access. An electrical line passes one kilometre south of the property. The nearby towns of Rosario—a historic mining community—and Mazatlán provide access to skilled local labour. Qualified Person The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Ben Whiting, a Qualified Person as defined in NI 43-101. About the Company Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in Mexico. The Company is the operator and 100% owner of the La Virginia Gold-Silver Project in Sonora. The Company continues to evaluate and advance mineral exploration opportunities across key mining jurisdictions in Mexico and acquired the Cimarron Project in Sinaloa, Mexico in June 2025. ON BEHALF OF THE BOARD OF DIRECTORS, Steve Cope President and CEO Follow us on social media: X: @SilverViperCorp LinkedIn: Silver Viper Minerals Corp. Facebook: Silver Viper Minerals YouTube: @SilverViperMinerals Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This news release includes forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking and include, without limitation, any statements respecting future plans for the Cimarron Project. Although Silver Viper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. SOURCE Silver Viper Minerals Corp.
Cision Canada
2 hours ago
- Cision Canada
Statement from Dennis Darby, President & CEO, Canadian Manufacturers & Exporters regarding passage of C-5, the One Canadian Economy Act, in the House of Commons
OTTAWA, ON, June 20, 2025 /CNW/ - Canadian Manufacturers & Exporters (CME) welcomes today's passage of Bill C-5, the One Canadian Economy Act, through the House of Commons. This legislation marks a meaningful first step toward fixing Canada's fragmented and inefficient approach to infrastructure approvals - one that has held back investment, delayed major projects, and weakened our economic competitiveness. From highways and ports to pipelines and clean energy infrastructure, Canada needs to get major projects moving - faster. Bill C-5 can help pave the way for clearer oversight, reduced duplication and greater government accountability, all of which are vital building the infrastructure our economy depends on. But this is only the beginning. The passage of Bill C-5 must not be the end of the conversation - it must be the starting point for a broader transformation. The federal government must now turn its attention to a much harder task: tackling the underlying web of outdated legislation, regulatory inefficiencies, and policy contradictions that have made a bill like this necessary in the first place. Until those deeper barriers are addressed, Canada will continue to struggle to attract private sector investment in the kinds of projects - big and small, urban and rural - that create jobs, grow communities, and position our economy for long-term success. Manufacturers are looking for outcomes, not just intentions. We look forward to the Bill passing in the Senate so that we can build on this momentum and do the hard work needed to truly unlock Canada's potential. About Canadian Manufacturers & Exporters (CME) From the first industrial boom in Canada, CME has advocated for and represented member interests. 150 years strong, CME has earned an extensive and effective track record of working for thousands of leading companies nationwide. More than 85 per cent of CME's members are SMEs and collectively account for an estimated 82 per cent of total manufacturing production and 90 per cent of Canada's exports.
