Global Energy Metals has reported ‘exceptionally positive results’ from a metallurgical program conducted over a zone of its Millennium cobalt project in the Mount Isa region.
“The 2018 drilling program at Millennium confirmed previous exploration work further demonstrating that this deposit has exceptional cobalt mineralisation continuity over a significant area and is open along strike and at depth, increasing the potential for resource expansion,” Global Energy Metals president and chief executive officer Mitchell Smith said.
“Following our highly anticipated outright acquisition of the project we look forward to rapidly advancing the Millennium cobalt project on all fronts including further drilling and additional metallurgical studies planned for 2019.”
Two composite samples were sourced from diamond drill core from a program conducted at Millennium during the first half of 2018. The drilling tested the northern quartzite domain that contains the majority of the known resource at Millennium.
Highlights of the metallurgical test work include:
- Production of separate cobalt (Co) and copper (Cu) rougher concentrate streams is possible.
- High-grade composite peak rougher floatation test:
- Combined Cu recovery of 95.1 per cent
- Combined Co recovery of 95.4 per cent
- Au total recovery of 81.4 per cent reporting dominantly to the Cu concentrate
- Low-grade composite peak rougher floatation test:
- Combined Cu recovery of 91.3 per cent
- Combined Co recovery of 91.7 per cent
- Au total recovery of 77.9 per cent reporting dominantly to the Cu concentrateIt is expected that the concentrate grades may increase on re-grind and final cleaner floatation. This test-work will be conducted in 2019.
The company said concentrate grades were expected to increase on re-grind and final cleaner floatation. This test-work will be conducted in 2019.
Global Energy Metals has entered into a binding agreement with joint venture partner Hammer Metals to acquire the balance of the interest in the Millennium cobalt project as well as the Mount Dorothy cobalt project and the Cobalt Ridge project so that it will hold 100 per cent of the assets.