JOHANNESBURG (miningweekly.com) – London-listed Lionsgold on Tuesday reported progress at its Finland operations, noting that the joint venture (JV) company, Kalevala, had received approval to process 200 t of material from the Kuikka deposit as part of the commissioning of a gold recovery pilot plant for planned bulk sampling.
The company has until June 20 to complete the test sample, following which it would seek permission to conduct a 5 000 t bulk sample of the high-grade Kuikka deposit, Lionsgold reported.
Kalevala was also granted a new prospecting licence, which increased the combined area held under licence fivefold to 1 500 km2, including more than 90% of the Suomussalmi greenstone belt and significant coverage of the Kuhmo greenstone belt.
Liongold also reported that it had increased its interest in the JV to 30%, following a recent injection of €60 000 in working capital to Kalevala.