Castile Resources Limited’s (ASX:CST) metallurgical test results have confirmed that Rover 1 can produce a valuable, high grade magnetite product that can be used as a density modifying industrial mineral in the coal washing industry.
Along with gold, copper, cobalt and bismuth this product now adds a fifth revenue stream to the Rover 1 Project mining studies. The test results show the product is a 96.6% magnetite concentrate with very low impurities similar to products that have historically been exported by other companies from the Tennant Creek area of Australia’s Northern Territory.
The production of this industrial mineral will greatly reduce the volume of waste tailings from the proposed mine which aligns with Castile’s strategy of developing Rover 1 as a world class environmentally sustainable mine. Other initiatives included in the current studies promoting environmentally sustaining mining include:
- Using a 100% battery powered electric vehicle (EV) haulage fleet
- Using solar power for the mine, processing facilities and accommodation camp
- Paste fill of the underground mine to reduce surface waste
- Producing copper and cobalt which are in the “green energy” space and heavily used in the EV manufacturing sector
Testing conducted at ALS’ laboratories has concluded that a high grade magnetite product is capable of being produced from the tails of the Rover 1 feed.
“This is a fantastic result to have confirmation that we have saleable industrial mineral product adding to the revenue streams at Rover 1,” Managing Director, Mark Hepburn, said.
“The production of this mineral will greatly reduce our environmental footprint and promote our ‘green energy’ focus for the development at Rover 1. T
he focus of mining and extraction remains on the gold and the copper, but the bonus of the by-product’s cobalt, bismuth and now this valuable industrial mineral are adding to an already compelling story at Rover 1.
“A core analysis programme with Corescan is underway in order to determine the volume of this product we can add to our new resource estimate in our mining studies.”
For further information please visit: https://www.castile.com.au/projects/rover-project/
