Tag Archives: PhotonAssay

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.

Intertek opens state-of-the-art new laboratory in Western Australia

Intertek Group has officially opened its new Minerals Global Centre of Excellence, in Perth, Western Australia, bringing with it world-class technical expertise, automated technology, and pioneering innovation and services, Intertek CEO, André Lacroix, says.

The Centre of Excellence is the largest Intertek Minerals laboratory in the world and consolidates the group’s Minerals business into a 20,000 sq.m, multi-service, facility housing over 500 employees. It is powered by the latest pioneering technology to deliver a broad range of Assurance, Testing, Inspection and Certification (ATIC) services to the industry, according to Intertek.

The new centre was officially opened at an event attended by Hon Bill Johnston, Western Australia’s Minister of Mines and Petroleum.

Intertek said: “COVID-19 has intensified the world’s focus on innovative and sustainable mining practices as industries seek to Build Back Ever Better. From the steel required for the construction of wind turbines to the nickel fuelling the shift to electric vehicles, responsibly sourced commodities underpin a cleaner, more sustainable and technologically advanced future. In order to meet the needs of a growing global population while reducing greenhouse gas emissions, a variety of energy sources and commodities will be needed to power the modern world.”

Intertek’s Minerals business has, for many years, driven innovation and sustainability throughout the resource supply chain, from exploration and resource development, through to production, shipping and commercial settlement, supported by a global network of experts and a customer-centric local delivery model, it said.

“As a purpose-led company, Intertek’s mission is to make the world a better, safer and more sustainable place and these values lie at the heart of the Minerals Global Centre of Excellence, which will feature 3,030 x330 W solar panels, making it one of largest rooftop solar installations in Western Australia,” the company said.

The facility will provide miners with access to global specialists in mineralogy, XRD, XRF, FTIR, ICP and statisticians, alongside a new technology and innovation hub with world-class technical expertise and superior customer service at its core, it said.

It will also include eight robotic automated systems, including sample preparation, XRF and wet chemistry systems.

Demonstrating its commitment to investing in advanced technology, Intertek has installed two Chrysos PhotonAssay units at the Minerals Global Centre of Excellence. These units show Intertek’s unwavering focus on leveraging innovation and will provide clients with more accurate and environmentally friendly analysis of gold and complementary elements, it said.

“The need for creative solutions is becoming ever more critical to solving today’s biggest energy and infrastructure challenges,” the company said. “True to its pioneering spirit, Intertek is constantly evaluating new instrumentation and technology to continuously improve quality, safety and efficiency and deliver value for our customers. The new Centre of Excellence shows Intertek’s unwavering focus on leveraging innovation and its commitment to providing clients with industry-leading, high quality analytical data.”

André Lacroix, Chief Executive Officer of Intertek, said: “The world has reached a tipping point in terms of sustainability and it is the movement of our time. As all industries seek to Build Back Ever Better, responsibly sourced commodities today will form the building blocks of a cleaner, greener, more sustainable tomorrow. This exciting new facility will provide our customers with instant access to world-class technical expertise, automated technology, pioneering innovation and services, all in one location.

“With a strong focus on technical excellence, data analytics and superior customer service, we will help the world’s leading mining companies accelerate to a sustainable future by Unearthing Xcellence, in turn enabling us to fulfil our mission of making the world a better, safer, more sustainable place for all.”

Intertek Minerals provides mineral testing services throughout the mining life cycle from exploration geochemistry, mine site laboratory services, minerals inspection, sampling and analysis, robotic laboratory solutions, environmental services and metallurgical testing services across the mining supply chain.

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.”

Chrysos Corp completes PhotonAssay hat-trick at MinAnalytical Lab

Following on from the successful commissioning of its second PhotonAssay Max system earlier this year, Chrysos Corp says it has now completed commissioning of a third PhotonAssay Max system at the MinAnalytical laboratory in Kalgoorlie, Western Australia.

The Chrysos PhotonAssay solution provides rapid, accurate, safe and non-destructive ore grade analysis and, with the installation of this new system, MinAnalytical’s Kalgoorlie facility now has the security of double-redundancy and the capacity to service customers with fast turnaround on up to 100,000 samples per month, Chrysos said.

The technology, which was developed by CSIRO, slashes the time it takes to analyse a drilling sample from days to hours, according to Chrysos, and is an alternative to the traditional fire assay process. It represents a chemical-free approach to material analysis that gives accurate results in minutes and uses a larger sample size than fire assay, with reduced sample preparation.
A further benefit is that the new process enables the sample to be tested repeatedly if required – unlike fire assay, which involves the destruction of the sample, the company says.

Arriving in Kalgoorlie in late October, the new PhotonAssay Max was installed by Chrysos and its manufacturing partner, Nuctech, and completed site acceptance testing in mid-November, with final sign-off occurring earlier this month.

“With NATA (National Association of Testing Authorities) accreditation of the new system expected in 2020, and a fully-automated sample preparation solution from Scott Automation incorporated by May, MinAnalytical’s Kalgoorlie laboratory represents the cutting edge of gold analysis and reporting,” the company said.

Chrysos was formed in 2016 in partnership between CSIRO and RFC Ambrian for the purpose of commercialising the PhotonAssay technology. Ausdrill has invested in Chrysos and is assisting in commercialising the company’s technology. Ausdrill, through its subsidiary MinAnalytical, was the first company in the world to offer the technology to mining companies.