Hanstone Receives Preliminary Metallurgical Results with Gold Recoveries up to 95.3% at Doc Property, British Columbia

 Vancouver, BC – TheNewswire - February 8, 2023 - Hanstone Gold Corp. (TSX.V:HANS) (OTC:HANCF) (FRA:HGO) (the “Company” or “Hanstone”) is pleased to announce that it has received preliminary metallurgical results from a 54.5-kilogram bulk sample of mineralized material from its Doc Property. 

 Analysis was conducted on a 54.5-kilogram representative bulk sample collected from DOC22-Pit 2E, DOC22-Pit 2.5E, and DOC22-Pit 3E. The tests were conducted by Sepro Laboratories (“Sepro”), a full-service metallurgical testing facility located in Langley, BC. 

 Highlights 

  Metallurgical testing achieved excellent recovery from processing of mineralized material from the Doc Property. 

 
•  

   Combined gravity concentration and cyanide leaching (gravity-leach) achieved overall gold recovery of 95.3%. 

   
 

 Head Assays 

 Calculated head grades ranged from 31.5 g/t to 34.8 g/t Au with a calculated average grade of 32.2 g/t Au and a direct head assay grade 33.6 g/t Au (Table 1). 

 Table 1:  Head Grade Summary 

 The Direct Head Assay also returned values of 220 g/t Ag, 1.93% Fe, 7.05% Pb, and 0.6% S. 

 Gravity Concentration 

 A 20 kg subsample was subjected to a 3-stage gravity concentration test with intermediate grinding. The Falcon L40 concentrates were panned to determine upgradability. The stage 3 Falcon tailings were split into multiple subsamples for the following testwork: 

 
•  

   Additional gravity concentration at a finer grind size (P80 of 45 microns). 

   
•  

   Flotation using a standard gold-sulphide procedure. 

   
•  

   Cyanide leaching under standard leach conditions 

   
 

 Standard gravity recoverable gold (GRG) testwork determined that grinding to a P80 of 78 microns achieved a gold recovery of 24.8%. The concentrates were high grade and amenable to further upgrading by panning. Additional grinding down to a P80 of 45 microns increased overall gold recovery to 30.7%. 

 Flotation Test 

 The scoping flotation test was conducted on the stage 3 Falcon tailings using a standard gold-sulphide procedure. Flotation testing achieved a gold recovery of 70.5% and a silver recovery of 63.7%. Flotation of the stage 3 gravity tailings (gravity-flotation) increased the overall gold recovery to 78.0%. 

 Cyanide Leaching Test 

 Cyanide leaching on stage-3 gravity tailings (gravity-leach) increased overall gold recovery to 95.3%. The relatively high dissolution of the gold content, as compared with the flotation recovery results, indicates while the valuable constituents are likely locked with the silicate gangue, there is high surface area availability for cyanide leaching. 

 Summary 

 Overall flowsheet test results are summarised in Table 2. 

 Table 2: Test Result Summary 

 The full report from Sepro will be made available on Hanstone’s website at www.hanstonegold.com. 

 The Company also reports the issue of 250,000 options to officers exercisable at $0.10, which will expire in 5 years from the date of issuance, pursuant to the option plan. 

 Andre Douchane, Executive Chairman commented: “Given the grade of this material and the way it reacts with gravity treatment followed by cyanidation appears similar to Franco Nevada’s Midas Mine. At Midas, a very low percentage of the gold was captured by gravity and the remainder was recovered from a cyanide circuit. Very exciting developments and will certainly be a main focus going forward.” 

 Qualified Person 

 Technical information in this news release has been reviewed and approved by Case Lewis P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects. 

 For Further Information Contact: 

 Ray Marks, President & CEO 

 +1-(778)-896-7778, ray.marks@hanstonegold.com 

 Or visit the Company’s website at www.hanstonegold.com 

 Forward Looking Statements Disclaimer 

 The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified using words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. 

  Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Hanstone’s business and the industry and markets in which it operates and will operate. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of gold, the cost of planned exploration activities, that financing will be available if needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct Hanstone’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.