Cobre Ltd Initiates Comprehensive Scoping Study for Ngami Copper Project
Cobre Ltd (ASX:CBE) has engaged the services of METS Engineering Group, a metallurgical and processing advisory firm, to conduct a thorough process design scoping study for the Ngami Copper Project in Botswana.
METS will assess the potential application of In-Situ Copper Recovery (ISCR) and other extraction methods to beneficiate the copper-silver mineralization at Ngami.
The project holds a conceptual exploration target ranging from 103 to 166 million tonnes with copper grades between 0.38% and 0.46%.
The study aims to provide insights into the most economically viable extraction method. Key findings are anticipated at the end of the September quarter of 2024.
Cobre’s CEO, Adam Wooldridge, expressed confidence in the study, stating, “Based on the favorable outcomes of our ongoing hydrogeological test work, we’re pleased to initiate a comprehensive scoping study to fully evaluate our proposed ISCR program at NCP.” He highlighted METS Engineering’s expertise in hydrometallurgy as a significant asset for the study.
The scoping study will progress through five stages:
.Gap Analysis: Providing a high-level assessment of the technical and economic viability of the project.
.Optimal Mining/Extraction Method Trade-off Study: Comparing and ranking ISCR, underground in-stope leaching, and open pit heap leaching to identify the best method(s) for copper-silver extraction.
.Process Design Study: Further refining the chosen extraction method from Stage 2.
.Scaling up and Pilot Study Design: Planning for the engineering, construction, and commissioning of a pilot operation.
.Economic Study: Developing a financial model based on Stage 3 outcomes, encompassing pricing and cost assumptions, cash flow assessment, IRR, ROE, and NPV calculations.
SOURCE:proactiveinvestors.com.au
