THE BOURSE WHISPERER: Ghana-focused gold explorer Castle Minerals (ASX: CDT) has had metallurgy test work completed that it says has confirmed the commercial potential of the company’s Kambale graphite deposit.
Flotation tests were conducted on fresh and weathered graphitic schist from the Kambale deposit in north‐west Ghana, which have demonstrated graphitic carbon from the deposit, can be easily recovered through simple flotation.
Flotation recovery results for plus-75 micron (flake graphite) were estimated at nearly 70 per cent for fresh material and 34 per cent recovery from weathered material.
Flake graphite has high value and is currently priced at $1500 to $3000 per tonne.
Flotation recoveries for ‐75 micron (amorphous graphite) came in at 93 per cent for fresh and 62 per cent for weathered material.
“We are very pleased to report these first flotation tests that confirm the commercial potential of Kambale to be a low cost producer of flake graphite,” Castle Minerals managing director Mike Ivey said in the company’s announcement to the Australian Securities Exchange.
“Kambale now justifies detailed metallurgical investigation to define the optimum processing, recovery and concentrate treatment path for the very large resource that we have outlined so far.”
Castle released a maiden Mineral Resource Estimate for Kambale in July this year of 14.4 million tonnes at 7.2 per cent graphitic carbon for 1.03 million tonnes contained graphite, including 6 million tonnes at 8.6 per cent graphitic carbon for 0.52 million tonnes contained graphite.
Drill hole location plan of Kambale graphite deposit with
significant graphite intercepts. Results in blue were used in the July
2012 resource estimate whilst those in black are from new drilling
testing the southern strike extension. Source: Company announcement
Castle claims Kambale ranks as one of the world’s larger global graphite deposits.
“As well as expanding the Kambale deposit and conducting detailed metallurgical test work, Castle remains committed to the company’s core focus of building on the gold exploration successes achieved to date on its highly prospective and proven licences,” Ivey said.
Since listing on the ASX in May 2006 Castle (ASX:CDT) has acquired the rights to six mineral projects in Ghana, West Africa including Akoko, Antubia, Banso, Bondaye, Opon Mansi (application) and Wa covering more than 11,000 square kilometres.
All granted projects are 100 per cent-owned by Castle Minerals (subject to Ghanaian Government right to a free‐carried 10 per cent interest).
The Kambale graphite prospect is situated within the Wa‐Lawra greenstone belt, which is being explored for gold and base metals by Castle.