Celsius Resources (ASX:CLA) has landed high-grade copper and gold recoveries at the Maalinao-Caigutan-Biyog (MCB) project in the Philippines, “strong” metallurgical testing confirmed for the company.
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The Australian explorer has been working towards an updated Feasibility Study and was waiting for these results to work on its next steps.
It’s all good news: The testing, run by Brisbane Met Labs, demonstrated “consistent and commercially viable” results across the first five years of Celsius’ planned mine life and showed performance aligned with past studies.
“The conformity test results achieved are a strong outcome and further underpin the updated study and FEED economics for the initial ten years of mine life,” Celsius technical director Peter Hume explained today.
Among the reports, Celsius calculated a combined weighted average recovery of 95% for copper and 77% for gold over the first decade of MCB’s production.
Celsius (and Met Labs) came to these results through a conventional flotation circuit, producing a saleable copper-gold concentrate averaging 25.5% copper and 5.5 grams per tonne gold with low impurities. They confirm the homogeneity of the ore body and its “consistent performance,” Mr Hume suggested.
Rougher tests achieved copper recoveries of around 98% and gold recoveries of around 83% at a grind size of 150 microns. Cleaner tests dished up 25% copper, five g/t gold; both will be used in Celsius’ feasibility update.
The market liked the news: CLA has been up +9% this Tuesday morning.
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