Ann: Positive Results - Preliminary Flin Flon Tailings Test Work, page-2

BackgroundCOB previously announced (ASX: 27 June 2023) that it had entered into a testwork co-operation agreement with respect to Hudbay’s wholly-owned Flin Flon tailings storage facility located in the Province of Manitoba, Canada (the “Tailings Facility”). Hudbay estimates that the Tailings Facility contains over 100 million tonnes from approximately 90 years of operations, which ceased in 2022.In 2021, Hudbay identified the opportunity to reprocess Flin Flon tailings and subse- quently completed a confirmatory drilling program covering approximately two-thirds of the Tailings Facility. The assay results from Hudbay’s drilling program indicated higher zinc, copper and silver grades than predicted from historical mill records while confirming the historical gold grade. The COB test work agreement is assessing the ability to recover valuable minerals while converting sulphides into stable and benign sulphur.COB TechnologyCOB has been developing minerals processing technology for extraction and recovery of cobalt and elemental sulphur from cobalt-pyrite feedstocks. The minerals processing technology is focussed on the treatment of pyrite, to recover payable metals, elemental sulphur, and generate environmentally stable iron oxide leach residues. The process specifically avoids the simultaneous production of sulphuric acid, which normally occurs when roasting pyrite, or leaching pyrite via pressure oxidation.MARKET UPDATE
This is good news for COB in justification of the company’s processing abilities that will have positive impact on plans going forward IMO.