Coniagas Battery Metals (TSX-V:COS) has identified promising offshore stockpile opportunities for evaluation using its advanced Re-2Ox hydrometallurgical process.
This significant step aims to establish a full-scale production facility in Quebec, in collaboration with SGS in Quebec City, to enhance “technological readiness”.
The company has identified six stockpile opportunities with a total estimated tonnage of approximately 29.03 million tonnes.
These stockpiles average grades of 1.5% copper and 0.5% cobalt (though these tonnages and grades are historical and do not have a technical report to support them, meaning they are not considered current and should not be construed as a resource).
Coniagas has received a 25-kilogram sample from one of the stockpiles for assay purposes and will release the copper and cobalt assays shortly.
Frank Basa, president and chief executive of Coniagas, said: "The discovery of these offshore stockpiles presents a substantial opportunity for Coniagas.
“With the support of SGS, we are moving rapidly towards proving the technological readiness of our Re-2Ox process, paving the way for funding and development of a large-scale production facility."
The company's ‘feed first’ strategy focuses on securing reliable and long-term feed contracts, setting Coniagas apart from competitors and positioning it to build robust relationships with downstream partners in the battery manufacturing and high technology sectors.
Matthew Halliday, the qualified person for Coniagas, stated: "These offshore stockpiles provide an exciting opportunity to leverage our Re-2Ox process.
“The diverse grades and sizes of these stockpiles underscore the versatility and efficiency of our hydrometallurgical approach. We are optimistic about the potential for high-grade extractions and are committed to advancing our processing capabilities."