Castillo Copper tests stockpile: grades up to 22% copper
Castillo Copper Limited’s (ASX:CCZ) has today provided an update on metallurgical test-work carried out on ore from two separate McDonoughs stockpiles along the line of lode.
Two composites formed from bulk samples taken from McDonoughs Portal and Shaft stockpiles along the line of lode have been the focal point of metallurgical test-work in recent months.
Encouragingly, the test-work in the laboratory has demonstrated the ore has beneficiated materially. Furthermore, results to date have confirmed solid copper concentrate recoveries that exceeded 80%, while the grade was up to 22% copper and cobalt 300ppm.
Moving forward, CCZ is optimistic the copper concentrate recovery rates and grades may improve as further metallurgical test-work is conducted. More significantly, these results provide a key insight on copper recoveries and grades for the other historic stockpiles at Cangai Copper Mine yet to be analysed.
CCZ Chairman Peter Meagher commented: “The Board notes the metallurgical test-work done to date on the legacy stockpiles has demonstrated proof of concept. Pleasingly, we have seen solid copper concentrate recoveries and grades, which we expect to continue improving as metallurgical test-work is progressed. Further, we are delighted to have strong interest in our stockpiles from several end user groups.”
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
Monetising legacy stockpiles
CCZ’s geology team has approached the regulator for guidance on how to effectively and efficiently remove the stockpiles from site so the economic benefits can be captured.
The clear options are local third party processing or a direct shipping ore product once regulatory clearance is secured.
CCZ continues to progress discussions with the several prospective off-take partners interested in processing the ore as relevant information comes to hand. Further metallurgical test-work will be undertaken to improve the copper concentrate recovery and grades.