The Graduating Class 1987 GOLD REPORT GORDEX MINERALS

At Cape Spencer, N.B., a small piece of land which juts into the Bay of Fundy, Gordex Minerals has demonstrated the viability of heap leaching gold ore in Canada’s Atlantic climate.

Last year the St. John-based company extracted more than 1,800 oz of the yellow metal from 45,000 tons of rock. About 250 oz of silver was also recovered.

With 500,000 tons of open pit ore reserves, Gordex plans to treat 100,000 tons on pads this year and then another 150,000 tons in 1988. If grades and recoveri es hold up to values attained in 1986, gold production should be 7,500 oz this year and 11,250 oz in 1988. At a mining and milling cost of $145(US) pe r oz, that could net the company close to $1 million this year and $1.4 million in 1988. ( These figures are based on a gold price of $390 US an oz).

But Gordex isn’t satisfied with recoveries. As a result studies are under way to use carbon-in-pulp technology to recover gold from the pregnant cyanide solut ion (rather than using the Merrill Crowe zinc precipitation technology now in us e).