Flagship Minerals Limited (ASX:FLG) is positioning for a lower cost fast track to free cash flow with Pantanillo, an advanced oxide gold project with scale potential.

Flagship will achieve this focusing on oxide gold (and copper) i.e. heap leachable mineralisation:

- Heap leaching is relatively simple and is a major source of gold, silver and copper.

- The advantage is the reduction or removal of crushing, and the removal of the grinding and flotation circuits, which means lower Capex and lower Opex.

- Industry studies show that these items, with accompanying filtration and thickening, can account for up to 70% of the AISC.

Rio2's Fenix gold project is a dump leach, i.e. no crushing, therefore ROM to leach pad:

- With a reserve grade of 0.48g/t Au and recoveries of 75%, Rio2 achieves an AISC of US$1,237 operating at 4,900m altitude.

*To view the Presentation, please visit: https://abnnewswire.net/lnk/8AU3EO4W


About Flagship Minerals Ltd

Flagship Minerals ASX:FLGFlagship Minerals Ltd's (ASX:FLG) strategy is to secure and develop projects which it believes will position the Company as a low-cost producer of Copper and Lithium, metals that matter. Specifically, Flagship Minerals seeks to secure low capital intensity projects in low-cost jurisdictions and infrastructure rich settings, projects which are positioned for high margin outcomes, and projects which are proximal to industry, chemical processing, and manufacturing.



Contact

Flagship Minerals Limited
Paul Lock, Managing Director
M: +61 408 631 497
E: paul.lock@panasiametals.com

Elissa Hansen, Company Secretary, Australia
M: +61 411 764 556
E: elissa.hansen@cosecservices.com.au