Coda Minerals have shown recoveries of copper and cobalt exceeding 99 per cent on its Emmie Bluff deposit — the largest of Elizabeth Creek project deposits within the Olympic copper province of South Australia.
The results enable the production of high purity minerals using an economic atmospheric leaching process — setting the project apart from the more costly pressure oxidation process.
The company said the latest milestone positions the project as a potential significant supplier for the electric vehicle and renewable industries.
“Elizabeth Creek has the potential to become a major producer of critical future minerals, and the ability to sell value-added products like copper cathode or cobalt sulphate – which has historically sold at a substantial premium to LME cobalt – represents a significant boost to the project,” chief executive Chris Stevens said.
The company is moving ahead with further process studies while continuing work on defining and extending its resources.
A scoping study is due to be completed in the September quarter.
COD’s Australian Stock Exchange-listed share price was trading at 32c today (9.29 am UTC+ 8 hours).