• Metallurgical viability confirmed: Initial metallurgical test work confirms the feasibility of employing acid leaching to beneficiate copper mineralisation discovered at the Ngami Copper Project (NCP); • Hydrogeological insights: Detailed review of the hydrogeology, including fracture distribution logging and numerical modelling, demonstrates the laterally extensive mineralisation at NCP satisfies key criteria required for In-Situ Copper Recovery (ISCR); • Innovative cost-effective prospect: ISCR, if successful, provides an economically efficient method for developing several tens of kilometres strike of moderate-grade copper mineralisation at NCP, with minimal environmental impact and requiring low initial capital and operating expenditures; • Following the success of the first phase of metallurgical test work, where copper recovery rates of 55.7% and 45.4% were achieved from moderate and high-grade composite samples respectively, Cobre has initiated additional testing to optimise leaching conditions to further increase copper recoveries; • Further hydrogeological test work designed to prove the viability of ISCR will include a series of pumping tests to provide an estimate of hydraulic conductivity and connectivity along the fracture zones associated with mineralisation; and • Release of Inferred Resource and Exploration Target Category modelling results, expected within Q3 2023, will provide further insight into the project’s scale and potential avenues for expansion at NCP.
CBE Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
