Tag Archives: Chrysos Corp

Chrysos Corp adds Britannia Mining, Kibali to PhotonAssay customer base

Chrysos Corp continues to expand the reach of its PhotonAssay™ technology, with the company set to provide new units to Britannia Mining Solutions, Intertek and Barrick Gold’s Kibali gold mine.

This brings the total number of deployed or contractually committed units to 38, up from the previous total of 33 units, with the new lease contracts increasing Chrysos’ total contract value by A$108.6 million to A$559.8 million ($386.8 million).

Two five-year leases (with five-year renewal options) have been signed with new customer Canada-based Britannia Life Sciences to deploy PhotonAssay units across its newly formed North American subsidiary, Britannia Mining Solutions. The contract specifies the deployment of an initial two PhotonAssay units while providing the opportunity for further expansion of the agreement in the future.

Two other new lease contracts highlight Chrysos’ growing relationship with international testing, inspection and certification company, Intertek (ITK). The association, which started with the installation in 2021 of two PhotonAssay units at ITK’s Minerals Global Centre of Excellence in Perth, Western Australia, has since expanded to include another already-operating unit in Perth and the upcoming deployment of two new units on a five-year plus five-year-option contract basis for the ITK business in Ghana.

Chrysos says one recently commissioned PhotonAssay unit is now operating in Val d’Or, Canada, with MSALABS, and another unit is now fully operational in Kalgoorlie, Western Australia, with ALS, it added.

Furthermore, Barrick Gold is expanding its adoption of PhotonAssay technology, with one of MSALABS’ already-committed PhotonAssay units to be deployed to Barrick’s Kibali gold mine in the Democratic Republic of Congo. Barrick, in partnership with MSALABS Ltd, installed a Chrysos PhotonAssay laboratory at the Bulyanhulu mine in Tanzania last year.

Managing Director and Chief Executive Officer, Dirk Treasure, said: “This is an exciting time for our business as we continue to execute our expansion plans and focus on key international mining hubs.

“With increasing demand, a strong pipeline of blue-chip customers and our global market penetration continuing at pace, we feel the business is well positioned to meet its ongoing strategic and operational objectives.”

PhotonAssay, Chrysos says, delivers faster, safer and more accurate analysis of gold, silver and complementary elements by non-destructive measurement of larger and more representative samples in as little as two minutes, enabling rapid turnaround of critical operational information that drives optimisation throughout the mining value chain.

The system, originally developed at Australia’s national science agency, CSIRO, provides an environmentally friendly, chemical-free, more sustainable replacement for traditional fire assay methods, significantly reducing CO2 emissions and hazardous waste.

Chrysos went public on the Australian Securities Exchange earlier this month following a successful, fully underwritten IPO, raising A$183.5 million at A$6.50 per share.

Ravenswood Gold to build custom on-site Chrysos PhotonAssay facility

Chrysos Corporation says it has reached an agreement with Ravenswood Gold for the installation of a custom-built Chrysos PhotonAssay™ facility on site at its namesake gold mine in Queensland, Australia.

Originally developed at Australia’s national science agency, CSIRO, Chrysos PhotonAssay is billed as delivering faster, safer and more accurate gold analysis, and is an environmentally-friendly replacement for fire assay on-site and in the laboratory.

Gold mining has been active in the Ravenswood region since 1868. In 2020, Ravenswood Gold purchased the site and committed to a major expansion of the existing mining operation. The growth plan includes establishing large-scale modern bulk open-pit mining operations in the former Buck Reef West and Sarsfield/Nolans open pits, increasing the size of the processing plant and constructing a new tailings storage facility. This ongoing development is expected to increase gold production to over 200,000 oz/y, extend the life of the mine by 14 years and see the Ravenswood mine become the largest gold operation in Queensland by 2022, according to the company.

Chrysos Corporation Chief Executive, Dirk Treasure, said: “Chrysos is proud to be partnering with Ravenswood Gold on this ground-breaking PhotonAssay installation at the Ravenswood mine site. The adoption of PhotonAssay on site at the mine reflects Ravenswood’s proactive approach to achieving excellence through technology and we look forward to working with them as they achieve their operational and sustainability goals.”

Ravenswood Gold Chief Executive, Brett Fletcher, added: “The team at Ravenswood is excited to be partnering with Chrysos on the establishment of this high technology facility right in the heart of the mine site. For us, the significant safety and sustainability benefits combined with low cost, high efficiency and lightning turnaround times delivers all the outcomes we are driving for. Being able to assay 500 to 1,000 samples per day of our grade control drilling, metallurgical sampling and exploration drilling will support us in creating a mining and mineral processing hub we believe will be operating for decades.”

Hitting samples with high-energy X-rays, Chrysos PhotonAssay causes excitation of atomic nuclei allowing rapid and enhanced analysis of gold, silver and complementary elements in as little as two minutes, Chrysos says. Importantly, the non-destructive process allows large samples of up to 500 g to be measured and provides a “true” bulk reading independent of the chemical or physical form of the sample.

Market enthusiasm for PhotonAssay’s operational and environmental benefits has endowed Chrysos with a strong sales pipeline and multiple new contract signings heading out to 2023, representing significant and sustained growth on current deployment numbers, the company said. Just some of the recent PhotonAssay deployments include a unit at Barrick’s Bulyanhulu mine in Tanzania, an installation at the Morila gold mine in Mali and one at Kirkland Lake Gold’s Fosterville mine in Australia.

Chrysos says it anticipates further global demand for PhotonAssay over the coming years in a worldwide market with room for approximately 350 units.

Chrysos Corp’s PhotonAssay tech hits major milestone

Chrysos Corp has announced that its ground-breaking PhotonAssay technology has now assayed over one million customer samples.

The milestone comes amid accelerating demand for the technology, which has seen the number of samples analysed more than triple in the last six months, the Australia-based company said.

Driven in part by increasing industry focus on safety, sustainability, and sample turnaround time, Chrysos PhotonAssay is competing with the centuries-old fire assay process in the gold assaying market. Chrysos says the technology, which originated out of a CSIRO project, is fast taking over fire assay to be the preferred technology of miners and laboratories seeking a solution to the supply chain and environmental challenges created by traditional gold assaying methods.

Chrysos CEO, Dirk Treasure, explained, “Demand for PhotonAssay has grown over the last year and further accelerated in the last six months as more miners and laboratories have reached the conclusion, through their own due diligence, that PhotonAssay not just meets and exceeds their accuracy and cost requirements, but also overcomes the speed, safety, and environmental challenges inherent in fire assay.”

Recently, Chrysos and Intertek declared a deal to install two PhotonAssay units at Intertek’s new Minerals Global Centre of Excellence in Perth, Western Australia. Chrysos also announced a partnership with MSALABS, a subsidiary of Capital Ltd, to deploy at least six PhotonAssay units across the globe over an 18-month period. Prior to that, the company signed a deal enabling Kirkland Lake Gold to use PhotonAssay for its Fosterville Mine in Bendigo, Victoria.

Hitting samples with high-energy X-rays, PhotonAssay causes excitation of atomic nuclei allowing enhanced analysis of gold, silver and complementary elements in as little as two minutes, Chrysos claims. Importantly, the non-destructive process allows large samples of up to 500 g to be measured and provides a “true” bulk reading independent of the chemical or physical form of the sample.

“The significance of the technology’s ability to analyse large sample sizes is underlined by Novo Resources’ recent announcement that it has signed a multi-year deal for priority access to the two new PhotonAssay units being installed at Intertek’s Centre of Excellence,” Chrysos said. “In finalising the agreement, Novo signalled its belief that PhotonAssay is the ideal technique for analysing the nuggety gold mineralisation at its Beatons Creek operation in Western Australia.”

Dr James Tickner, Chrysos Corp Co-founder and Chief Technology Officer, agreed: “Accurate assaying for coarse gold has always been a challenge, and it’s on difficult deposits where the much larger sample mass of PhotonAssay really delivers. It’s great to see industry recognising this, with Novo Resources committing to run at least 20,000 samples per month through each unit at Intertek’s brand-new facility in Perth. The two PhotonAssay units we’ve just commissioned there will really help Intertek deliver faster, cleaner and more accurate results, not just for Novo, but its other customers as well.”

Another factor driving fast adoption of the technology is Chrysos’ commercial and operating model whereby the company leases, rather than sells, its PhotonAssay units to customers, the company says. This approach not only minimises expenditure by relieving the customer of capital expenditure charges and any service, delivery and maintenance fees, but also reduces ongoing staffing, training and related occupational health, safety and environmental costs.

In return, the leasing model facilitates a recurring revenue stream for Chrysos, which the company has used for research and development and the overall broadening of applicability and accessibility of PhotonAssay for wet samples and other metals such as silver and copper, it says.

Reviewing recent successes and foreshadowing upcoming events, Treasure summarised, “Even with more than A$80 million ($62 million) in contracted revenue and 14 PhotonAssay units either in-use or committed, we remain focused on executing our smart, sustainable growth plans. Market feedback indicates that our disruptive technology is helping customers achieve faster, safer and cleaner business outcomes ‒ and that is the type of value creation Chrysos finds compelling.

“Ultimately, we want our customers, shareholders and community stakeholders to feel as much pride using and engaging with PhotonAssay, as we do when we create and deliver it across the globe.”

thyssenkrupp brings PhotonAssay technology to Africa mining sector

thyssenkrupp Industrial Solutions South Africa says it has been appointed the official reseller of ground-breaking PhotonAssay™ technology from Chrysos Corp.

The novel X-ray technology is poised to revolutionise the field of gold analysis, replacing traditional methods such as fire-assay in many applications, and providing accurate and fully-automated gold measurements in mineral ores in just a couple of minutes.

The world-first PhotonAssay unit, installed in a commercial Perth, Western Australia laboratory, recently passed two milestones; completing its first 50,000 analyses and receiving ISO 17025 accreditation. The owner of MinAnalytical Laboratory Services will establish a major new analytical facility in early-2019 providing PhotonAssay services in Kalgoorlie, the heart of Australia’s gold mining industry.

MinAnalytical’s General Manager, Gary Wheeler, said: “For our customers, it means the system has been validated and fully tested, and they can rest assured they will receive accurate results which have been benchmarked against fire assay.”

Originally developed by scientists at the CSIRO, Australia’s national research agency, PhotonAssay uses high-power X-rays to activate and measure gold atoms in mineral samples. Compared with conventional X-ray Fluorescence, the much higher energies used in PhotonAssay allow true-bulk measurements of large samples independent of their physical or chemical form, the company said.

Marius Combrinck, thyssenkrupp Product Manager RT Sales and Marketing Minerals, explained how the PhotnAssay technology works: “PhotonAssay hits samples with high-energy X-rays from a linear accelerator. These X-rays force any gold atoms present in the sample into an excited state that lasts for a few seconds. Subsequently, a sensitive detector system measures the gamma-ray signals given off by these atoms as they relax. Processing software relates the gamma-ray signature back to the gold concentration.”

Combrinck pointed out that the gamma-ray energy is different for each element, allowing gold to be accurately distinguished from other metals that may be present.

Samples to be assayed are packaged into standardised plastic jars that are sealed and barcoded, remaining in the jars throughout the analysis process. “As the method is non-destructive, samples are returned unchanged, and can be safely handled, disposed of or sent for further testing as required,” thyssenkrupp said.

The large sample size – typically about 500 g – significantly reduces sample preparation requirements. Recent testing has demonstrated that for most materials, crushing samples to 2-3 mm is enough to enable accurate sampling and analysis. For coarse gold deposits, the 10-fold increase in sample size compared with conventional fire-assay is particularly advantageous, according to the company.

PhotonAssay units are designed for rapid deployment to both centralised and mine site laboratories anywhere in the world. Systems are fully containerised, allowing them to be factory tested and then packaged for shipping and on-site installation.

The modular design of the PhotoAssay unit lends great flexibility. In addition to onsite installations, thyssenkrupp also has the capabilities so run the lab from its Johannesburg head office. “As we are the face of this technology in Africa, we can sell the technology to existing laboratories or directly to a customer,” Combrinck said. He added that thyssenkrupp will provide after-sales service and support to customers and end users on the continent.

The X-ray source used is fully electronic and contains no radioisotopes. PhotonAssay units comply with international safety standards and, due to their high levels of automation, can be operated by staff with minimal training, according to thyssenkrupp. Combrinck added that management of the PhotoAssay unit requires only two staff members, freeing up personnel to attend to other tasks.

The potential for near real-time gold assays is generating strong interest in on-site installations. With a typical detection limit of 0.03 parts per million, a measurement time of two to three minutes and the ability to measure crushed ore, process pulps, concentrates, carbon materials and solutions with equal ability, a mine site PhotonAssay unit can provide rapid information to support resource definition, mine planning and process control, thyssenkrupp said.

A throughput of more than 1,600 samples per day provides enough capacity for even the largest operations, while a significant reduction in skilled labour requirements is an additional benefit for remote sites.

Although developed primarily for gold analysis, the PhotonAssay technology can measure a wide range of other elements. Silver and copper assay services will be added during 2019 and an extension to other metals is planned for this year, thyssenkrupp said.

The company plans to discuss PhotonAssay technology on February 5 and February during its three-day thyssenkrupp Technology Sessions held alongside Mining Indaba 2019.