Hello Shareholder, The pyrite referred to here is iron pyrite not copper. Almost all the cobalt is associated with pyrite. Not chalcopyrite.
Cudeco has 3 ore body types, chalcopyrite, chalcocite and native copper. Pyrite and magnetite are in all these orebodies. This is why the company has spent $4M to date on the metallurgy testing as they are developing a single process for extracting all these at high recovery rates.
Details of all this ( and well worth the read, as I did again) are in the following announcement Metallurgical Testing Update dated 16 Dec 2010
If you look at Fig 14 you will see Electron micrograph showing chalcopyrite and pyrite.