Tag Archives: PhotonAssay

New Found Gold proves out Chrysos PhotonAssay sampling method

New Found Gold and its consultants, following detailed test work and a quality control program, have highlighted the Chrysos PhotonAssay™ method as an appropriate technique for determining gold content in samples from its Queensway project, in Newfoundland and Labrador, Canada.

The company announced this alongside assay results from 14 diamond drill holes completed as part of a program designed to test the Keats Main Zone located along the Appleton Fault Zone (AFZ) at Queensway.

Over the past several months, the company tested hundreds of samples in the low-, mid-, and high-grade range, comparing the results of the photon assay method with traditional fire assay, and found a very strong correspondence of the results, it said.

Moving forward, the company will use the photon assay method at MSALABS’ Val-d’Or facility, as well as ALS Minerals’ Vancouver laboratory for traditional fire assay and screen fire determination, to ensure the most efficient turnaround times on assays. The ongoing quality control (QC) program will include analysis of some samples by both methods to monitor accuracy, the company said.

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.

Melissa Render, VP Exploration for New Found, said: “We are…excited to debut the use of the Chrysos PhotonAssay method following several months of testwork, clearing the way for New Found to begin shipping a steady flow of material to MSALABS for assaying. The PhotonAssay method is efficient, non-destructive, cost effective and environmentally friendly. These are important attributes that we strive to incorporate into all aspects of exploration at New Found Gold and we are excited to partner with Chrysos and MSALABS to apply this technology at Queensway.”

Lynda Bloom, a sampling and assay expert that has assisted New Found with its QC programs and who has evaluated photon assay data for several other projects, said: “Prior to releasing PhotonAssay results, New Found conducted a thorough evaluation of the method by doing extensive testing against fire assay determinations. Even though over 3 million photon assays have been reported worldwide to date, it was important to prove to management that the method does not bias gold results with respect to fire assay for Queensway samples.”

Britannia Mining Sciences bolsters PhotonAssay lease order

Chrysos Corporation Limited says it has signed 10 new PhotonAssay™ lease agreements with existing customer Britannia Mining Solutions (BMS), bringing Chrysos’ total number of deployed or contractually-committed units to 48.

The combined initial five-year terms of the 10 new BMS lease agreements increases Chrysos’ Total Contract Value by A$149 million ($106 million) to A$705 million.

The first of BMS’ 12 PhotonAssay units is set to arrive in Montreal in the September quarter of 2023. In due course, BMS’ hub-and-spoke market expansion plan will deliver PhotonAssay technology to strategically important mining centres across the US, Canada, Central and South America, the Middle East and Europe.

Chrysos Managing Director and Chief Executive Officer, Dirk Treasure, said: “These 10 new PhotonAssay leases signal a significant expansion of the existing relationship between Chrysos and Britannia Mining Solutions.

“We are particularly excited by BMS’ targeted approach to the roll-out of its PhotonAssay units. Its proposed regional hub model offers flexibility for large and small miners globally and complements the existing mine site and near mine site deployment strategies of Chrysos’ other customers.”

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.

Based in Canada, BMS’ parent company, Britannia Life Sciences, offers an integrated suite of services including analytical and microbiological testing, product development and quality assurance, plus safety and regulatory compliance.

Peter Shippen, CEO of Britannia Life Sciences, said: “Britannia is pleased to partner with Chrysos in revolutionising the global minerals analysis industry. Like Chrysos, our Mining Solutions team has an unwavering commitment to the creation of exceptional market value. The signing of these 10 new PhotonAssay lease agreements reflects the desire of both organisations to deliver unparalleled levels of customer service through faster, safer and more sustainable assaying technologies.”

MSALABS to bolster Chrysos PhotonAssay inventory on ‘exceptional demand’

MSALABS, a global provider of geochemical laboratory services for the exploration and mining sectors and a majority-owned subsidiary of Capital Limited, has expanded its global partnership with Chrysos Corp that will see it bolster its number of PhotonAssay™ units.

The partnership will see MSALABS deploy 21 Chrysos PhotonAssay™ units across the globe by 2025.

In April 2021, MSALABS announced its global partnership with Chrysos and revealed the planned deployment of six PhotonAssay units across its global network. This rollout commenced with a unit at Barrick Gold’s Bulyanhulu Gold Mine, in Tanzania, and represented the first Chrysos PhotonAssay unit deployment outside of Australia.

MSALABS has continued the rollout with units now commissioned at the Morila Gold Mine, in Mali (Firefinch), and in Val d’Or, Quebec, Canada. A fourth unit will arrive imminently in Yamoussoukro, Cote d’Ivoire, with facility preparations well advanced. A fifth unit is ready for shipment to the Kibali Gold Mine, in the DRC (Barrick Gold), with the sixth unit due to begin installation in Timmins, Canada, by the end of 2022.

The company has committed to a further 15 Chrysos PhotonAssay units that will be rolled out over 2023 and 2024. MSALABS says it is currently engaged with multiple mining companies globally, including most of the top 10, and continues to see “exceptional demand” for this revolutionary new technology.

PhotonAssay delivers multiple advantages over the slower, more hazardous fire assay process, according to MSALABS. The technology provides faster, safer, more accurate and environmentally-friendly analysis of gold, silver, copper and other elements. The process is significantly simpler than fire assay, dramatically improving the turnaround time for results and reducing the risk of human error, with the added benefit of being able to retain and retest samples. In addition, the use of X-rays avoids the high temperatures and harmful chemicals such as lead and acids involved in fire assay, making it more environmentally friendly with a lower carbon footprint.

Revenue guidance for MSALABS in 2022 remains circa-$30 million, which includes the rollout of the initial six Chrysos PhotonAssay units by year-end, with each unit generating $3-5 million, depending on use. Following the rollout of the further 15 units across 2023 and 2024, in conjunction with the expansion of the existing geochemistry business, MSALABS anticipates generating revenues in excess of $80 million/y.

Stuart Thomson, MSALABS CEO, said: “We are pleased to expand our relationship with Chrysos and to assist in the global rollout of its revolutionary technology. Over the past year, we have seen very strong demand for Chrysos PhotonAssay, and we expect this interest to continue to grow as our global mining customers not only gain confidence in its accuracy and reliability, but also benefit from the substantially improved turnaround time for results not possible with fire assay. In recent years we have grown our network significantly and now have 18 laboratories globally. Adding Chrysos PhotonAssay into our service offering is exciting for us and a key benefit for our customers.”

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.

Perenti offloads MinAnalytical to ALS, but retains interest in Chrysos PhotonAssay tech

Perenti says it has signed an agreement to divest MinAnalytical Laboratory Services Australia Pty Ltd, a Perenti subsidiary, to ALS Ltd in a deal worth A$43.6 million ($31.2 million).

Of the total consideration for the transaction, A$39 million relates to shares in MinAnalytical, with an additional $4.6 million for prepayments and other financial adjustments. The transaction is anticipated to be completed prior to December 31, 2021.

Mark Norwell, Managing Director and CEO of Perenti, said the divestment was part of the ongoing strategic review of the company’s portfolio, including its services, operating regions and businesses.

“As we continue to focus on optimising the performance of our business and creating long-term sustainable value for our shareholders, we are pleased to have entered into a binding agreement for the divestment of our MinAnalytical business to ALS.”

He added: “ALS is a premier provider of analytical testing data worldwide and has a track record of acquiring and embedding complementary businesses and analytical technology to deliver value for their clients. MinAnalytical, and the significant new technology offering of the Chrysos PhotonAssay machines, is a natural fit for the ALS portfolio and will benefit greatly from the synergies and economies of scale that ALS can offer.”

MinAnalytical has several PhotonAssay units it is using for customers, with a high level of automated sample preparation in place.

Following the transaction, Perenti is to retain our 8% equity holding in Chrysos, Norwell said, explaining: “We, much like ALS, appreciate the significant current and future value proposition that the Chrysos business represents.”

He added: “In line with our significant focus on liquidity and capital management, the net proceeds of this transaction will be allocated across our portfolio to maximise shareholder value. We will continue to evaluate and progress a number of capital management initiatives designed to generate cash flow, streamline our portfolio, liberate cash, sustainably reduce our leverage ratio and efficiently allocate capital across our business.”

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.

SGS adds Chrysos PhotonAssay services to Australian Minerals Regional Hub

SGS says it is expanding its service delivery in obtaining Chrysos PhotonAssay™ technology as an alternative to traditional fire assay procedures.

The two companies – SGS and Chrysos – have reached an agreement to install a PhotonAssay unit at SGS’s Australian Minerals Regional Hub in Perth, Western Australia.

PhotonAssay provides enhanced analysis of gold, silver and complementary elements in as little as two minutes, improving turnaround time, SGS said.

“SGS is at the forefront of innovation excellence in the minerals and mining sectors with leading automation across FTIR, pXRF, NIR and now PhotonAssay, which will support mining and exploration customers with faster, safer and more environmentally friendly analysis,” SGS said.

Chrysos Corporation Chief Executive, Dirk Treasure, said: “Chrysos is excited to be working with the SGS team. The installation of this new PhotonAssay unit at their cutting-edge facility in Perth reflects the desire of both organisations to deliver unparalleled levels of customer service through faster, safer and more sustainable assaying technologies.”

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. 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 companies said. The technology is also measurably safer and more environmentally friendly than previous assay processes, aligning with SGS’s core principle of achieving a better, safer, and more interconnected world, SGS said.

Derick Govender, Executive Vice President, Natural Resources, SGS, said: “As the leading testing, inspection, and certification service provider to the mining industry globally, SGS continues to seek new, innovative and sustainable solutions to further enhance our services to our customers. In adopting Chrysos PhotonAssay technology at our Perth facility, SGS will continue to work on further deployments of this technology within our global network. Our team’s technical expertise and insight into our customer`s value chain end-to-end is one of our key advantages that allows us to develop innovative solutions.”

Chrysos Corp has already worked with MinAnalytical, MSALABS and Intertek on deploying PhotonAssay units at labs.

New Found Gold to use Chrysos PhotonAssay method for Queensway drill core

New Found Gold says it is proceeding immediately with assaying of drill whole-core samples from its Queensway Project, in Newfoundland, Canada, using the Chrysos PhotonAssay™ method at Intertek’s facilities in Perth, Western Australia.

Novo Resources Corp, a significant shareholder of New Found, currently uses Intertek’s Chrysos PhotonAssay facilities in Perth for production and exploration samples from its Western Australia gold mining and exploration projects and is facilitating priority access for New Found to the Intertek facilities under Novo’s arrangement with Intertek.

The company is planning to send the first shipment of Queensway drill core from Gander this coming week, including intervals from recent drilling that were previously designated for conventional assay on a “rush basis”, the company said. Assay results from these samples are anticipated to be received and reported in the coming weeks.

Intertek’s assay facilities in Perth are used by a broad spectrum of gold mining and exploration companies and it operates two Chrysos PhotonAssay instruments at its Perth laboratory with a third to be installed shortly.

New Found is advancing towards an agreement with MSALABS for 20,000 assays per month at a new facility MSALABS anticipate commissioning shortly in Val d’Or, Quebec, and is also working with MSALABS towards an agreement for the installation of a Chrysos PhotonAssay unit in Gander, in Newfoundland, in 2022.

The use of the Intertek facilities in Perth will allow the company to immediately proceed with leveraging the Chrysos PhotonAssay for the assay of drill core currently being produced at Queensway. This assay work would transition to the MSALABS facility in Val d’Or, Quebec, once capacity there is available to the company.

The Chrysos PhotonAssay method is non-destructive and New Found’s QA/QC program will include fire assay/metallic screening of sample material post photon assay for comparison of the results.

Melissa Render, VP Exploration of New Found, said: “With the current large backlog of samples and resulting slow turnaround times for conventional assaying in North America, even with the additional transport time required to ship samples to Perth, we believe that proceeding with Chrysos PhotonAssay analysis at these facilities in Perth will significantly shorten our turnaround time on assays. This will provide faster receipt of critical information to our exploration team and will allow more timely disclosure of drill results to the market.

“Recognising the nuggety nature of gold mineralisation at Queensway, the use of non-destructive, Chrysos PhotonAssay method on whole-core samples will contribute significantly to optimising the accuracy of our assay results. The Chrysos PhotonAssay method is rapidly gaining industry wide acceptance. Barrick, in partnership with MSALABS, recently installed a Chrysos PhotonAssay unit at its Bulyanhulu Mine in Tanzania, and Kirkland Lake Gold recently installed a unit at its Fosterville Mine in Victoria State, Australia. We are very excited to be moving ahead and implementing the Chrysos PhotonAssay assay process for our Queensway Project and we look forward to reporting our first assay results from recent drilling in the next several weeks.”

Chrysos PhotonAssay lab up and running at Barrick’s Bulyanhulu

Barrick Gold, in partnership with MSALABS Ltd, has successfully installed a Chrysos PhotonAssay™ laboratory at its Bulyanhulu mine in Tanzania – the first in Africa and in its global operations.

This new technique, 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, according to Barrick.

Introducing the new system to media at the mine, Barrick President and Chief Executive Mark Bristow said it was part of the group’s continuing drive to harness technological innovation in the service of operational excellence, occupational safety and environmental care.

Bulyanhulu is in northwest Tanzania and is a narrow-vein gold mine containing gold, silver and copper mineralisation in sulphides.

The unit, which is also the company’s first deployment directly to a mine site, is part of a collaboration with MSALABS, a subsidiary of Capital Ltd, which will see at least seven Chrysos PhotonAssay units installed across the globe over the next 18 months, Chrysos says.

Dirk Treasure, Chrysos Corporation Chief Executive, said: “We are confident that PhotonAssay’s faster, safer and environmentally-friendly process not only aligns with Barrick’s focus on operational excellence through technology adoption, but also reflects and enhances its global reputation as a leader in sustainable mining and exploration.”

He added: “Our ambitious plan is to deploy 80 PhotonAssay units over the next five years. At that point, with each unit capable of processing up to 480,000 samples per annum, we will be helping our customers reduce CO2 emissions by an estimated 18,000 t and decrease hazardous waste by approximately 12,000 t every year.”

The company anticipates further acceleration of demand over the coming years in a worldwide market with room for approximately 350 units.

Chrysos Corp raises A$50 million to fund PhotonAssay tech expansion drive

Australia-based Chrysos Corporation has successfully completed an equity placement, raising A$50 million ($37 million) of funds to, it says, meet accelerating demand for its PhotonAssay™ technology from miners, explorers and laboratories across the globe.

The technology is billed as being able to displace slower, more hazardous and toxic assay processes. It delivers faster, safer, more accurate and environmentally friendly analysis of gold, silver and complementary elements in as little as two minutes, according to the company.

Dirk Treasure, Chrysos Chief Executive Officer, said: “We are delighted with the support we’ve received from investors as we enter this exciting phase of our expansion strategy. Through effective planning and execution, we have built a long runway of sustainable growth and are well positioned to realise PhotonAssay’s immense potential in this attractive and progressive market.”

Chrysos says it has entered a transformative stage with the PhotonAssay technology already deployed and in-use with industry leaders, including the world’s third largest laboratory group, Intertek, geochemical laboratory services provider, MSALABS, and top-tier miners including Barrick and Kirkland Lake Gold.

The company maintains a strong sales pipeline and has contracts secured for a further nine units, which represents 150% growth on its current deployments and locking in its manufacturing capacity for the next 12 months, it said. This will bring the total number of deployed and committed PhotonAssay units to 15.

Chrysos anticipates accelerating demand over the coming years in a worldwide market with room for approximately 350 units.

Treasure added: “Our ambitious plan is to deploy 80 PhotonAssay units over the next five years. At that point, with each unit capable of processing up to 480,000 samples per annum, we will be helping our customers reduce CO2 emissions by an estimated 18,000 t and decrease hazardous waste by approximately 12,000 t every year.”

PhotonAssay units are leased to mines and analytical laboratories under long-term renewable contracts, with customers paying per sample processed. As a non-discretionary element of the mining value chain, the technology offers an attractive operating expenditure model for customers and delivers a high margin, long-life annuity revenue stream back to Chrysos.

Chrysos’ PhotonAssay technology was originally conceived at Australia’s national science agency, CSIRO, which remains a significant shareholder.