Many Peaks Gold says initial Heavy Mineral (HM) separation tests for its Plateau cobalt project in Queensland have confirmed concentrated cobalt mineralisation hosted in manganese oxides – with results returning over 1% cobalt.

HM separation results averaged 0.69% cobalt and 0.21% nickel in the cobalt horizon from 4 previously reported diamond holes, with notable results including:

  • 06% cobalt value returned in HM from 1.05m at 0.252% cobalt (hole CODD01); and
  • 17% cobalt returned in HM from 1.35m at 0.038% cobalt (hole CODD02).

“Preliminary mineral separation results underpin the potential for low-cost beneficiation of cobalt mineralisation at the Plateau project,” Many Peaks Gold (ASX:MPG) executive chairman Travis Schwertfeger said.

The company believes there’s also the potential to generate multiple valuable heavy minerals (VHM) products and further upgrade cobalt values in the manganese oxide concentrate from the Plateau Project by conventional, physical separation methodologies (magnetic, electrostatic and gravity separation).

Further heavy mineral separation tests and mineralogy study work are required to assess this valuable and critical heavy mineral sand potential.

Drilling underway with results next quarter

MPG has now commenced drilling covering a 40km2 target area at the project to define the extent of cobalt and heavy mineral sands mineralisation.

“The company is now focussed on assessing the tonnage and value potential of the Plateau project through more advanced mineralogical assessment,” Schwertfeger said.

“The current drilling program is designed to explore a significant portion of a larger 8km by 18km target area where the shallow, bulk tonnage potential for mineralisation remains significant.”

Encouragingly, the Plateau Project has been awarded a Queensland Government Collaborative Exploration Initiative (CEI) grant for $223,300, to help drive the Yarrol critical minerals study to support a passive seismic geophysics survey over the 2km x 4km basalt plateau capping the manganese-cobalt mineralisation.

Seismic survey work is anticipated to commence in July, and results from the previous and for current drilling anticipated in the next quarter.

 

 

This article was developed in collaboration with Many Peaks Gold Limited, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

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