A process for the extraction of a precious metal, such as gold or silver, from a sulphide ore or concentrate or other source material comprises subjecting the source material to pressure oxidation to produce a pressure oxidation slurry. The pressure oxidation slurry is flashed down to a lower temperature and pressure and is then subjected to a liquid/solid separation to obtain a pressure oxidation solution and a solid residue containing the precious metal. The solid residue is then subjected to cyanidation to extract the precious metal. The formation of thiocyanide during cyanidation is minimized or counteracted by effecting the cyanidation at an elevated oxygen pressure and a reduced retention time, such as 30 to 90 minutes. A method for the reduction of copper cyanide formation during cyanidation leaching is also provided.