First glimpse of silver
THE Southern Downs is home to many of nature's treasures, one of which is the presence of silver.
Moreton Resources subsidiary MRV Metals, the company working at the Granite Belt Project, announced it had produced a whopping 784kg of silver concentrate from the Granite Belt project operations.
After receiving State Government approval to restart the Granite Belt polymetallic project in the middle of the year, MRV Metals has worked at the production site to produce more than 700kg of silver concentrate.
The Granite Belt project includes the Twin Hills mine and has key silver prospects as well as the potential for copper, zinc and lead.
MRV Metals managing director Jason Elks said it was a significant advancement for the company to move into operations through commissioning and the shipment of first concentrate, which signalled a significant milestone in the company's history.
"This is a significant outcome for our shareholders, our employees, business community and residents of the Texas region,” Mr Elks said.
"The company, through these early shipments, expects to generate revenue well in excess of the initial purchase price of this asset.
"This is another step forward for our business and we look forward to our production outlook in early 2018, whereby we would expect considerable revenues to be flowing into the company via this operation.”
The MRV Metals managing director said the silver concentrate was bound for their smelting and refining partner Siltech PMR in Melbourne.
"We have generated about 784kg of silver concentrate, which contains multiple impurities due to the commissioning nature of the processes and collection methods,” Mr Elks said.
"However, the company does... expect considerable ounces of silver to be produced from this maiden shipments of concentrate to Siltech.
"Moving forward we would expect to be shipping silver concentrate of greater than 70% purity, for further treatment by our smelting and refining partners.
"The company is well on track for significant silver concentrate production by the end of January 2018, at which point we expect to be close to our targeted monthly production rate of 90,000oz per month.”
The silver concentrate is gained by the commissioning of the silver room's retort process, which is the drying and purification of the concentrate, and the commissioning of the broader silver processing shed and its electrical systems.
In addition, the site's power generation systems as well as calibration, lab, assaying and weighing facilities are used to process the silver concentrate.