Dakota Gold Corp. has advanced a key phase of its Richmond Hill Oxide Heap Leach Gold Project by completing a substantial portion of the metallurgical testing program. The company shipped 4,000 kg of ore to Forte Dynamics Lab, covering 28 geo‑metallurgical domains, and has received results from two initial composites in the MW3 zone.
The testing program includes more than 30 column leach tests. Early results show recoveries ranging from 61 % to 64.8 % for samples grading 0.96 g/t Au and from 61.6 % to 64.8 % for samples grading 0.53 g/t Au. These high recoveries at relatively low gold grades support the company’s projection of low‑cost heap leach economics, a critical factor for the project’s economic viability.
The company plans to finalize the feasibility study by early 2027, with construction slated for 2028 and production targeted for 2029. The updated timeline reflects a more conservative schedule than the earlier Q3 2026 target, aligning with the company’s detailed engineering and permitting roadmap.
Richmond Hill sits in South Dakota’s Homestake District, a historically productive gold mining area. Dakota Gold’s focus on this district is part of a broader strategy to unlock value from its land holdings and deliver a high‑NPV, high‑IRR mine. An initial assessment technical report issued in July 2025 projected an after‑tax NPV5 % of $1.6 billion and an IRR of 55 % at a gold price of $2,350 per ounce, underscoring the project’s strong economic foundation.
Management highlighted the significance of the early results. James Berry, Vice President of Exploration, noted that the core drilling campaign is providing critical data that enhances geological resource understanding and supports the transition to the feasibility study. He added that the consistency of mineralization across the northern project area is particularly promising as the company targets this area for initial mining stages.
The company’s progress also reduces permitting and environmental headwinds by demonstrating that the ore can be processed efficiently. While permitting remains a regulatory hurdle, the metallurgical data provide a clearer picture of the project’s technical feasibility, thereby strengthening the company’s position with regulators and potential investors.
The market reacted positively to the announcement, reflecting confidence in the project’s technical progress and the company’s ability to move toward a high‑NPV, high‑IRR outcome.
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