A statistically designed set of eight bio-oxidation tests on the Olympias concentrate was conducted in bench-scale equipment to evaluate the effects of important variables on pyrite/arsenopyrite oxidation and gold extraction. The variables studied were total retention time, feed solid concentration and particle size. High degrees of arsenopyrite oxidation were observed in all tests, as the arsenopyrite oxidation was very fast and therefore not dependent on the variables within the studied range. Statistical analysis of the experimental data reveals that the pyrite oxidation and gold extraction are dependent mainly on the retention time and to a lesser extent on the particle size. The feed solid concentration had a small influence only on the gold extraction. Regressed equations of the experimental data can be used to predict proper operating conditions