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Searchlight Minerals (SRCH) updated on its Clarkdale Project in Arizona, focusing on recovering gold and metals from a 20 million-ton slag pile from the historic Clarkdale copper smelter. Testing by Arrakis, Inc. confirmed significant gold presence, but recovery rates varied due to different methodologies. The recent tests highlighted challenges, with gold grades ranging from 0.018 opt to 0.187 opt, primarily remaining in iron. Despite setbacks, CEO Martin Oring emphasized commitment to proceed towards pilot production, seeking funding to advance the project, and plans to address investor questions in an upcoming call.
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