Besra Gold Inc: Produces First Gold Concentrate

Perth, Western Australia--(Newsfile Corp. - December 22, 2023) - Besra Gold Inc. (ASX: BEZ) (Besra) is pleased to announce that it has successfully completed the production of gold concentrate from its Bau Gold Project in accordance with its obligation to Quantum Metal Recovery Inc contained within the Gold Purchase Agreement (GPA) that was approved by Besra shareholders on 25 July 2023.

Under the terms of the GPA, Besra undertook to produce gold in mineral concentrate by no later than 31 December 2023.

PROCESSING METHODOLOGY

Bulk samples of mineralisation were collected at random from the Jugan Project site, chosen because it is the most advanced of the gold projects located within the Bau Goldfield.

These bulk samples were then shipped to a third-party processing facility, which had been specifically identified because:

• it was designed to process the same style of refractory gold mineralisation as found at Jugan;
• it provides capabilities to emulate the treatment characteristics of the Jugan Pilot Plant, once commissioned;
• processing of Jugan mineralisation could be undertaken under the planning and supervision of Besra's technical personnel, notably Dr Erik Devuyst (Metallurgical Consultant) and Mr. Kevin Wright (Mining Engineer); and
• processing would be undertaken in batch campaigns to avoid mixing or contamination with third-party ores from other sources.

These attributes collectively providing confidence that the results would mirror those as if they had been processed using the Jugan Pilot Plant, once commissioned.

Processing was divided into two stages. Stage 1 involved 1.3 tonnes of bulk samples, which was more than adequate to undertake "bench-scale" testing.

Technically this involved trialling various treatment cycles, retention times in key components of the processing cycle - e.g. the rougher, scavenger, cleaners to determine respective recovery rates. In addition, various combinations of reagents were trialled to ascertain gold deportment responses and content of arsenic levels. These tests were designed and agreed by Besra's technical team and conducted over a six week period.

RESULTS

Gold concentrate from Stage 1 bench-scale testing contained very pleasing levels (concentrate grades for Tests A & B after cleaning were 47.28 g/t and 46.18 g/t respectively) as shown on the below table.

Gold Balance		Test A	Test B
Mass	Cleaner 1 ( wt %)	8.31	8.28
	Cleaner 2 ( wt %)	1.59	1.57
	Cleaner 3 (wt %)	0.96	1.10
	Total Cleaner (wt %)	10.86	10.95
	Rougher-Scavenger (wt %)	20.33	20.48
Au Recovery (%)	Cleaner 1 (%)	88.60	87.72
	Cleaner 2 (%)	2.56	2.27
	Cleaner 3 (%)	0.64	0.83
	Rougher-Scavenger (%)	93.73	93.34
	Total Cleaner (%)	91.80	90.82
Concentrate Grade (gpt Au)	Cleaner 1 (gpt)	59.66	58.96
	Cleaner 2 (gpt)	9.02	8.08
	Cleaner 3 (gpt)	3.69	4.21
	Rougher-Scavenger (gpt)	25.78	25.37
	Cleaner 1-3 (gpt)	47.28	46.18
Head & Tail Grade (gpt Au)	Rougher-Scavenger Tail Grade (gpt)	0.44	0.47
	Cleaner Tail Grade (gpt)	1.14	1.47
	Final Tail Grade (gpt)	0.51	0.57
	Assay Head Grade (gpt)	5.66
	Calculated Head Grade (gpt)	5.59	5.57

 

For reference, the 2013 Feasibility Study had assumed that a concentrate for export would be produced at approximately 30 g/t Au. This is only an apparent discrepancy because the initial 1.3-tonne bulk sample serendipitously coincided with sites of higher-grade outcropping mineralisation (approximately 5.59 g/t and 5.57 g/t). Otherwise, the ratios of concentrate enrichment, the relationship between gold grade and arsenic content determined during the Stage 1 trials were entirely consistent with processing trials previously conducted, using smaller sample sizes, at a number of third-party off-site locations leading up to the preparation of the 2013 feasibility study, and subsequently.

STAGE 2

Following the successful completion of the bench-scale tests, a further shipment of 4-5 tonnes of Jugan bulk samples (part of a 9-tonne total) were sent for processing as part of Stage 2. Stage 2 trial processing will adopt the processing sequence determined as a result of the initial, Stage 1, processing and will be continued during January with further results announced when available.

Figure 1 - Collection of bulk samples at Jugan (Upper Left & Right). Location of bulk samples for Stage 2 (lower).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3448/192275_besraimage.png

This ASX release was authorised by the Board of Besra Gold Inc.

For further information:

Australasia
Michael Higginson Company Secretary
Email: [e-mail]

North America
James Hamilton
Investor Relations Services Mobile: [phone]
Email: [e-mail]

Competent Person's Statement

The information in this Announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Kevin J. Wright, a Competent Person who is a Fellow of the Institute of Materials, Minerals and Mining (FIMMM), a Chartered Engineer (C.Eng), and a Chartered Environmentalist (C.Env). Mr. Wright is a consultant to Besra. Mr. Wright has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code (2012 Edition) of the Australasian Code for Reporting of Exploration Results, and a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

Kevin J. Wright consents to the inclusion in this Announcement of the matters based on his information in the form and context that it appears.

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