Peak Resources Achieves Breakthrough in Beneficiation for Ngualla Rare Earth Project
Published : November 29, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   Australia | Barite |

WEST PERTH, AUSTRALIA--(Marketwire - November 29, 2012) - Peak Resources Limited ("Peak" or "the Company") (ASX: PEK) (OTCQX: PKRLY), the developer of a potentially low cost, long term rare earth project in Tanzania, today announced that it has developed a process to physically upgrade the rare earth mineralization from its Ngualla Project in Tanzania, resulting in reduced capital and operating costs.

Using a combination of Wet High Gradient Magnetic Separation (WHGMS) and a specialized flotation regime, it has been successfully demonstrated that 38% of the plant feed can be rejected prior to acid leaching, resulting in only 5% loss in the rare earth content.

The beneficiation process, together with a simple sulphuric acid leach using acid produced on site, supports the Company's vision that its 100% owned project will be a low-cost, long term rare earth producer. The physical upgrade process will be included in the Scoping Study in December 2012.

Richard Beazley, Managing Director of Peak Resources said, "This achievement is a very important breakthrough by Peak's Technical Team. We have always said we intend to be a low cost producer and the physical upgrade will contribute significantly to achieving this. We have a high grade deposit, the mineralization is shallow, has excellent metallurgical characteristics. With this physical upgrade and the forthcoming Scoping Study, we believe Peak is very well placed to continue hitting our milestones."

Technical Report

Beneficiation tests were completed on a composite sample of mineralised intervals from Diamond drill hole NDD007 within the highly weathered portion of the SREZ targeted for first production.

Detailed mineralogy undertaken using QEMSCAN techniques on coarse crushed and screened feed samples identify native mineral sizes and associations. Results show an intimate association between iron oxide and rare earth minerals (hematite and bastnaesite). The gangue minerals of barite and silica generally do not contain rare earth inclusions and have discrete grain boundaries with bastnaesite, indicating that grinding will separate these minerals.

Stereo microscope images of the feed mineralization after grinding to less than 106 microns clearly illustrate discrete separated particles of iron oxides, barite and silica (Figure 2).
The ground feed was subjected to wet magnetic separation (WHGMS) at increasing field strengths. The resulting non-magnetic stream was subjected to a program of flotation test work directed at recovering rare earth minerals whilst rejecting barite and silica. This process proved effective at rejecting the non-magnetic barite and silica fraction, which comprises 38% of the original feed but only 5% of the rare earths. The process is shown diagrammatically in Figure 1.

The successful proving of an effective beneficiation process that removes a significant proportion of feed mineralization with minimal loss of rare earths will reduce capital and operating costs by:

  • Reducing the size of the onsite sulphuric acid plant and leaching circuit of the processing plant (lower capital costs), and

  • Lower sulphuric acid consumption -- the major contributor to reagent and operating costs.

The beneficiation process enhances the economics of the Ngualla operation and will be included in the Ngualla Scoping Study, which is on track for completion by mid-December 2012.

Work is already in progress to further optimize this beneficiation process for input into feasibility studies due to commence in early 2013.

About Peak Resources
Peak is developing the Ngualla Project, a potentially low-cost, long term rare earth project located in south west Tanzania. Ngualla has been ranked as the fifth largest deposit in the world outside China, and the highest grade of the top seven.

Ngualla has a Mineral Resource of 170 million tonnes grading 2.24% of rare earth oxides (REO). Within the resource there is a highly weathered and near-surface zone estimated at 40 million tonnes at 4.07% REO, equivalent to 1.6 million tonnes of contained REO (see Table 1 below for resource classifications). Ngualla is also a bulk deposit which is largely outcropping. These attributes place the project among the world's most notable rare earth discoveries of recent years.

Ngualla is a potential low cost open pit mine due to its shallow outcropping high grade mineralization. The initial sighter metallurgical test work to date has been completed using a sulphuric acid leach process route suggesting a relatively less complex, potentially cheaper capital outlay and shorter time to production.

Safe Harbor Statement
The information in this document has been prepared as of October 15, 2012. Certain statements contained in this document constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of Canadian provincial securities laws. When used in this document, the words "anticipate," "expect," "estimate," "forecast," "will," "planned," and similar expressions are intended to identify forward-looking statements or information.

Such statements include without limitation: statements regarding timing and amounts of capital expenditures and other assumptions; estimates of future reserves, resources, mineral production, optimization efforts and sales; estimates of mine life; estimates of future internal rates of return, mining costs, cash costs, minesite costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements and information as to the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of reserves and resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to the Company's minesites and statements and information regarding the sufficiency of the Company's cash resources. Such statements and information reflect the Company's views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; community protests; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company's stock price; and risks associated with the Company's by-product metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this document, see the Company's Annual Report on Form 20-F for the year ended December 31, 2011, as well as the Company's other filings with the Canadian Securities Administrators and the U.S. Securities and Exchange Commission.

The Company does not intend, and does not assume any obligation, to update these forward-looking statements and information. Marc Legault, a Qualified Person and the Company's Vice-President, Project Development, reviewed the technical information disclosed herein. For a detailed breakdown of the Company's reserve and resource position see the July 18th, 2012 press release on the Company's website. That press release also lists the Qualified Persons for each project.


Peak Resources Limited
Richard Beazley
Managing Director
Phone: +61-8-9200-5360

MZ Group - North America
Derek Gradwell
Natural Resources
Phone: 949-259-4995

Data and Statistics for these countries : Australia | China | Tanzania | All
Gold and Silver Prices for these countries : Australia | China | Tanzania | All

Peak Resources Limited

ISIN : AU000000PEK2
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Peak Resources is a producing gold and copper company based in Australia.

Its main assets in production are PEAK HILL in Australia and GEITA in Tanzania, its main asset in development is MENZIES in Australia and its main exploration properties are GOLDFIELDS URANIUM, YELLOWDINE and ASHBURTON PARABURDOO in Australia and IGUNGA, NGUALLA and LUPA in Tanzania.

Peak Resources is listed in Australia and in Germany. Its market capitalisation is AU$ 21.5 millions as of today (US$ 16.7 millions, € 13.6 millions).

Its stock quote reached its highest recent level on February 18, 2011 at AU$ 0.96, and its lowest recent point on September 28, 2017 at AU$ 0.04.

Peak Resources has 477 460 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
In the News and Medias of Peak Resources Limited
7/31/2015Peak Resources sees bright future for Tanzania magnet metals...
Annual reports of Peak Resources Limited
Announces Availability of Its 2012 Annual Report
Nominations of Peak Resources Limited
10/15/2012Announces Appointment of Chief Financial Officer/Company Sec...
Project news of Peak Resources Limited
3/6/2013(Ngualla)Beneficiation Success Enhances Ngualla Rare Earth Project Ec...
3/6/2013(Ngualla)Beneficiation Success Enhances Ngualla Rare Earth Project Ec...
1/4/2013(Ngualla)Hosts Webcast to Review Results From Scoping Study for Ngual...
11/29/2012(Ngualla)Achieves Breakthrough in Beneficiation for Ngualla Rare Eart...
9/28/2012(Ngualla)to Complete Key Scoping Study for Ngualla Rare Earth Project...
7/23/2012(Ngualla)Announces Initial Results From 2012 Drilling Program at Ngua...
7/11/2012(Ngualla)Provides Update on Ngualla Rare Earth Project
5/27/2010Intersects extensive gold anomalism at Imweru project
Corporate news of Peak Resources Limited
7/26/2016Peak Resources Quarterly Activities Report and Appendix 5B
6/27/2016Update on FCC Approval
6/10/2016Entitlement Issue Update to BPAY Biller code
5/11/2016Investor Presentation May 2016
4/28/2016Peak Resources Quarterly Activities Report and Appendix 5B
4/13/2016Trading Halt
4/5/2016Investor Update April 2016
1/28/2016Peak Resources Quarterly Activities Report and Appendix 5B
1/28/2016Peak appoints Rare Earth Sales and Marketing Executive
1/4/2016Appian Stage 2 funding
1/4/2016Peak appoints Rocky Smith as Chief Operating Officer
1/4/2016Reinstatement to Official Quotation
12/23/2015Suspension Request
12/23/2015Suspension from Official Quotation
12/21/2015Trading Halt
11/27/2015Results of Annual General Meeting
11/26/2015Peak appoints Peter Harold as Non-Executive Chairman
11/26/2015AGM Presentation
11/13/2015ASX Listing Rule 14.7 Waiver Granted
11/2/2015Peak commences Beneficiation Pilot Plant
10/29/2015Notice of Annual General Meeting and Proxy Form
10/22/2015Peak Resources Quarterly Activities Report and 5B
9/30/2015Appendix 4G and 2015 Corporate Governance Statement
9/11/2015Managing Directors Presentation - General Meeting
9/2/2015Presentation for Africa Down Under
8/31/2015Appendix 3B, Cleansing Notice and Appendix 3Y x 2
8/12/2015Notice of General Meeting
8/7/2015Change of Auditor
8/3/2015Presentation for Diggers and Dealers
7/29/2015Peak Resources Quarterly Activities Report and 5B
7/28/2015Becoming a substantial holder
7/27/2015Closing of BFS Financing with Appian and IFC
7/19/2015Asian Equities News 2015-07-20: Tanzanian Rare Earth Drillin...
6/9/2015Presentation for Mines and Money Mauritius
5/13/2015Presentation for RIU Sydney Resources Round Up
4/29/2015Peak Resources Quarterly Activities Report and 5B
4/1/2015Peak Board Update
3/13/2015Half Year Report and Accounts
2/12/2015Open Briefing - MD on Company Funding and Outlook
2/12/2015Appointment of Metallurgy Executive
2/12/2015Change of Office Address
2/12/2015Mining Indaba Presentation - February 2015
2/3/2015BFS Funding of ~A$29.5 Million Finalised as Formal Agreement...
1/27/2015Peak Resources Quarterly Activities Report and 5B
1/27/2015Peak Resources Quarterly Activities Report and 5B
1/6/2015Issue of Performance Rights and Options - Appendix 3B
12/9/2014Addendum to 2014 Annual Report
12/8/2014Funding and Technical Programs Update - Ngualla Pr
12/1/2014Results of Annual General Meeting
10/27/2014Peak Attracts IFC as Potential Cornerstone Investor
3/28/2014Darren Townsend Interview at Mines and Money Conference
3/19/2014Peak Resources Delivers Robust PFS for Ngualla
4/4/2013(Ngualla)Increased Resource Estimate to Improve Ngualla Project Econo...
3/13/2013Pilot Plant Feed Verifies Leach Recovery Process
1/24/2013Issues Quarterly Update
11/15/2012(Ngualla)Announces Positive Drill Results for Ngualla Rare Earth Proj...
11/9/2012(Ngualla)Positive Drill Results at Ngualla Rare Earth Project
10/30/2012Announces Availability of Its Fiscal Q1 2013 Quarterly Repor...
8/1/2012(Ngualla)Announces Wide High Grade Drill Results From Surface at Ngua...
7/27/2012Announces $5.5 Million Private Placement
6/28/2012Commences Trading on the OTCQX Under the Symbol "PKRLY"
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
AU$ 0.045
04/19 17:10 -
Prev close Open
0.042 0.045
Low High
0.045 0.047
Year l/h YTD var.
0.039 -  0.063 -21.05%
52 week l/h 52 week var.
0.037 -  0.097 -57.14%
Volume 1 month var.
917,142 2.27%
24hGold TrendPower© : 28
Produces Copper - Gold
Develops Gold
Explores for Cobalt - Gold - Manganese - Nickel - Phosphate - Uranium
Interactive chart Add to compare
Print Compare Export
Last updated on : 11/26/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 6.00+0.00%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 3.64+2.54%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.71-3.89%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.14+8.00%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.57+0.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 2.17+2.36%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 2.81+2.18%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.23+0.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.14+2.39%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 5.10-0.39%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.43+0.60%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.08+7.14%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.23+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 0.54-5.26%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 0.31+0.00%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 35.69-1.14%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.14+0.00%Trend Power :