Coniagas Battery Metals (TSX-V:COS) has reported significant initial sample results for copper and cobalt from its offshore stockpiles.
The preliminary assays reveal concentrations of 1.76% copper and 0.36% cobalt from one of the stockpiles containing three million tonnes.
This marks a critical step in Coniagas' strategy of becoming a leading supplier of battery metals for the North American electric vehicle (EV) industry.
Evaluation efforts are focused on processing these materials in Quebec, leveraging the province's infrastructure, green power, and access to critical ports and reducing reliance on Chinese imports.
"Our feed-first strategy is crucial in establishing Coniagas as a key player in refining and processing high-grade copper, nickel, and cobalt products," said Frank Basa, President and CEO of Coniagas.
Matthew Halliday, Qualified Person for Coniagas, added: "The upcoming steps in our evaluation process are designed to ensure the quality and consistency of our stockpile materials."