RPX Gold Announces Positive Metallurgical Test Results
RPX’s Wawa project achieved superior metallurgical recovery, supporting its progression toward a 2027 preliminary feasibility study.
RPX Gold Inc. announced preliminary metallurgical test results from 26 of 71 composited samples at its Wawa Gold Project in Ontario. The testing was conducted via cyanidation bottle roll testing by SGS Canada Inc.
Open-pit samples returned an average gold extraction of 93.4% at a head grade of 4.42 g/t Au, exceeding the 88.0% recovery assumed in the 2026 Preliminary Economic Assessment (PEA). Underground samples averaged 88.3% recovery at a head grade of 8.24 g/t Au. Samples containing arsenopyrite (300–2,850 ppm As) averaged 87.7% recovery, indicating arsenic does not severely impair conventional cyanidation.
Testing continues on the remaining 45 samples. Two drill rigs are currently active on a fully-funded 20,000-meter program aimed at converting inferred resources to indicated/measured categories to support the upcoming Pre-Feasibility Study (PFS). The PFS is targeted for completion in the first half of 2027.
RPX Gold Inc. (RPX) released metallurgical results that validate the technical assumptions embedded in its February 2026 Preliminary Economic Assessment (PEA). The data shows a ~5.4 percentage point improvement in open-pit recovery, rising to 93.4% from 88.0%. This increase reduces processing risk and reinforces the viability of a toll-milling strategy, as conventional cyanidation performs well on Wawa mineralization.
The results serve as a technical de-risking step ahead of the Preliminary Feasibility Study (PFS). There is no immediate financial or valuation impact from the announcement.
RPX Gold Inc. is a gold exploration and development company focused on its 100% owned Wawa Gold Project in Northwestern Ontario, situated within the Michipicoten Greenstone Belt. The project is located adjacent to major producers including Wesdome Gold Mines, Alamos Gold, and Hemlo Mining. The deposit hosts the Jubilee Shear and Minto Mine zones, with a phased development strategy that evaluates near-surface open-pit mining to generate early cash flow, followed by underground operations. The company plans to utilize existing regional toll-milling infrastructure to avoid the capital burden of building an on-site mill.
Current Mineral Resources include 22.909M tonnes at 1.69 g/t Au (Indicated) and 9.951M tonnes at 1.59 g/t Au (Inferred). The 2026 PEA outlined strong economics at a base case of $3,500/oz Au, projecting an after-tax NPV5% of C$523M, an IRR of 99.7%, and an initial capital requirement of ~C$51M with a payback period of less than one year.