Boron One Holdings Inc. (TSXV: BONE) reported producing commercial-grade colemanite concentrate from test material sourced from its Piskanja boron project in Serbia.
The latest testing incorporated representative amounts of waste rock expected to enter the processing stream during potential mining. Boron One said the result more closely reflects anticipated run-of-mine conditions than its previous work.
The company did not disclose the concentrate grade, recovery rate, mass yield, impurity profile, test scale or estimated processing cost.
Test Feed Includes Mining Dilution
Boron One said the test material included representative proportions of hanging-wall and footwall waste consistent with the project’s mining-dilution models.
Mining dilution occurs when waste rock is extracted with mineralized material. Including that waste in the test feed can provide a more realistic indication of how a processing method may perform under operating conditions.
Earlier testing conducted at ALS Laboratories used representative material taken from the colemanite bodies without the same waste-rock component. According to Boron One, both programs produced commercial-grade concentrate using conventional and readily available processing technologies.
However, “commercial-grade” is the company’s characterization. Without quantitative results from the latest program, the reported product quality and potential processing performance cannot be independently evaluated from the announcement.
Feasibility-Study Review Remains Suspended
The processing results, along with related tailings and backfill studies, form part of the final amendments requested by Serbia’s Mining Ministry for the project’s Serbian-compliant feasibility study.
Boron One requested a suspension of the ministry’s documentation review while those amendments are completed. The company plans to resubmit the updated study and continue the formal review process for Exploitation Field approval.
That approval would give Boron One exclusive rights to develop and commercialize the deposit. It would not, by itself, authorize construction.
The company has previously said that detailed mine and processing designs would still need to be completed and approved before construction could begin. Project financing, environmental approvals, engineering and other development work would also remain necessary.
Piskanja Hosts Colemanite Resources
Piskanja is located approximately 250 kilometers south of Belgrade in a historical Serbian mining region with access to roads, rail, electricity and an experienced workforce.
The deposit consists primarily of colemanite with some ulexite contained within two main borate beds.
A 2022 NI 43-101 mineral resource estimate reported 1.39 million measured tonnes grading 35.59% B2O3 and 5.48 million indicated tonnes grading 34.05% B2O3.
A separate inferred resource contains approximately 284,700 tonnes grading 39.59% B2O3.
These estimates are mineral resources rather than mineral reserves and do not demonstrate that commercial mining would be economically viable.
Commercial Performance Not Yet Demonstrated
The latest result provides additional technical information for the amended Serbian feasibility study, particularly because the test feed incorporated modeled mining dilution.
However, laboratory or pilot-scale concentrate production does not demonstrate that the process will achieve the same grades, recoveries, costs or operating reliability at commercial scale.
Completion of the study amendments, resumption of the regulatory review and receipt of Exploitation Field approval are not assured. Boron One has not announced a construction decision or established commercial production at Piskanja.
Sources
- Boron One Reports Commercial-Grade Colemanite Concentrate
- Boron One — Piskanja Project
- Boron One Applies for Exploitation Field Approval
- Boron One Reports Completion of Serbian Feasibility Study
Editorial Disclosure
This article is based entirely on publicly available information, including company disclosures and publicly available technical information. It discusses Boron One Holdings Inc. (TSXV: BONE). Mining Markets Report has not received compensation from Boron One, its management, investor-relations representatives or any third party for this specific article. Mining Markets Report may have current or past paid business relationships with other companies, which do not influence the content or conclusions of this article.
The author and publisher do not hold securities in Boron One Holdings Inc. as of the publication date.
The description of the latest concentrate as “commercial-grade” is based on Boron One’s disclosure. The announcement did not provide the concentrate grade, recovery rate, mass yield, impurity profile, test scale or processing cost.
Statements concerning feasibility-study amendments, regulatory review, Exploitation Field approval, processing performance, project development and potential commercial operations are forward-looking and remain subject to metallurgical, technical, environmental, regulatory, financing, construction and market risks.
Piskanja’s reported mineral resources are not mineral reserves and do not have demonstrated economic viability. Test results do not establish commercial-scale performance or guarantee that the project will receive approval, obtain financing or enter production.
Development-stage mining securities are speculative and carry a risk of capital loss. This article is provided for informational and educational purposes only and does not constitute financial or investment advice. Readers should conduct their own due diligence and consult a qualified financial professional. Please review the full Mining Markets Report disclaimer.
