MSALABS Chrysos Barrick Capital Partnership

Capital Limited

31 October 2023

 

MSALABS Limited & Capital Limited

("MSALABS" & "Capital")

Chrysos Corporation, Barrick Gold and MSALABS form global partnership

for deployment of PhotonAssay™

MSALABS is pleased to announce that it has forged a partnership with one of the world's largest gold miners, Barrick Gold, and Chrysos Corporation (Chrysos), to deliver PhotonAssay™ technology to Barrick mine sites across four continents. The partnership will commence with the deployment of three MSALABS contracted PhotonAssay™ units to the Nevada Gold Mines (NGM) complex in the United States of America (USA), with the potential deployment of up to 10 more PhotonAssay™ units to other Barrick projects by the end of 2025, subject to finalising due diligence. The partnership is an extension of an already successful relationship between the three companies at Barrick's Bulyanhulu mine in Tanzania and its Kibali operations in the Democratic Republic of the Congo (DRC).

The single largest gold-mining complex in the world, NGM is 61.5% owned and operated by Barrick, and 38.5% owned by the world's largest gold miner, Newmont. The assets at the complex include 10 underground mines, 12 surface mines as well as multiple related facilities.

Chrysos Managing Director and CEO Dirk Treasure commented: "Barrick's global adoption of our technology is a watershed moment for us, underlining PhotonAssay's superiority to outdated and hazardous fire assay methods. Together with the team at MSALABS, we look forward to bringing the same operational and environmental benefits being delivered at Bulyanhulu and Kibali in Africa to more of Barrick's gold mines."

Striking a similar tone, Barrick Mineral Resource Management & Evaluations Executive Simon Bottoms, said: "PhotonAssay has already been delivering faster, safer, more accurate and environmentally-friendly analysis to our African operations, so we are more than pleased to broaden the partnership with Chrysos and MSALABS to take advantage of this innovative technology in our global operations."

On leveraging PhotonAssay's previous successes, Stuart Thomson, MSALABS CEO, enthused: "This partnership reflects the teamwork that's driven the highly successful integration of PhotonAssay technology into Barrick's mine sites since the first hybrid lab commissioned in Bulyanhulu in 2021. MSALABS' holistic approach including design, construction and process components has resulted in seamless transitions from fire assay to PhotonAssay at Bulyanhulu and Kibali. Development has continued with copper assaying and innovations in sample logistics and robotics, extending the capability, safety and productivity of the entire system."

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For further information, please visit Capital Limited's website www.capdrill.com or contact:

Capital Limited                                                                     [e-mail]                      

Peter Stokes, Chief Executive Officer                             

Rick Robson, Chief Financial Officer

Conor Rowley, Corporate Development & Investor Relations 

Tamesis Partners LLP                                                          [phone]

Charlie Bendon

Richard Greenfield

Stifel Nicolaus Europe Limited                                          [phone]

Ashton Clanfield

Callum Stewart

Rory Blundell

Buchanan                                                                               [phone]

Bobby Morse                                                                        [e-mail]

George Pope

About Capital Limited

Capital Limited is a leading mining services company providing a complete range of drilling, mining, maintenance and geochemical laboratory solutions to customers within the global minerals industry. The Company's services include: exploration, delineation and production drilling; load and haul services; maintenance; and geochemical analysis. The Group's corporate headquarters are in the United Kingdom and it has established operations in Côte d'Ivoire, Canada, Democratic Republic of Congo, Egypt, Gabon, Ghana, Guinea, Kenya, Mali, Mauritania, Nigeria, Pakistan, Saudi Arabia, Tanzania and the United States of America.

 

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