Castile Resources (ASX:CST) Reports “Exceptional” Base Metal Recoveries at Rover 1 – The Market Herald

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  • Castile Resources (CST) achieves “extremely high” individual metal recovery rates from downstream processing of bulk flotation concentrate at the Rover 1 project in the Northwest Territories
  • Bulk concentrate recoveries include 98% gold, 99.4% copper and 99.1% cobalt.
  • Bismuth recoveries were low resulting in the metal no longer being pursued in the flowsheet as a by-product
  • Work has begun on the design and cost of a processing plant to support mining studies
  • Shares are trading up 2.86% today at 18 cents apiece

Castile Resources (CST) has achieved “extremely high” individual metal recovery rates for gold, copper and cobalt from downstream processing of bulk flotation concentrate.

The recoveries come from the Rover 1 project in the Northern Territory, where Castile had previously reported recoveries of all metals relating to a single bulk concentrate.

The downstream processing method would allow the direct production of metal on site. Castile said this form of recovery reduces the environmental impact of onward transport and provides key products for future use in Australia.

Bulk concentrate recoveries include 98% gold, 99.4% copper and 99.1% cobalt.

An estimated 21.4% of the gold is in simple gravity recovery, while 72.4% is in bulk concentrate.

The gold recovery from the bulk concentrate is 98%, giving an overall total gold recovery of 92.8%.

With copper, 97.8% relates to bulk flotation concentrate.

Solution recovery recovered 98% of the copper, giving an overall copper recovery of 95.3%.

Total cobalt discovery reached 83% while total magnetite was recovered at 68%.

Work has begun on the design and costing of a processing plant in support of mining studies.

Bismuth recoveries were low, causing the metal to no longer be continued into the flowsheet as a by-product.

Managing Director Mark Hepburn said the company had developed the best method of extraction.

“Our goal of finding the best method to extract maximum value from every tonne we mine has been achieved,” he said.

“Unlike the traditional route of selling concentrates to overseas markets, the artisanal scale of the project allows for the application of on-site downstream processing to produce primary metals.

“This translates into maximizing recovery of key metals and fast cash flow turnaround times for financial modeling in the pre-feasibility study.”

The shares were trading up 2.86% today at 18 cents apiece at 2:30 p.m. AEDT.

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