COPPER GIANT ACHIEVES UP TO 92% COPPER AND 97% MOLYBDENUM RECOVERIES IN LATEST METALLURGICAL TESTWORK AT MOCOA

Executive Summary

• Bench‑scale flotation tests on the Mocoa copper‑molybdenum project returned up to 92 % Cu and 97 % Mo recoveries, exceeding the company’s current resource model assumptions (90 % Cu, 75 % Mo).
• Mineralogical work confirmed chalcopyrite as the dominant copper mineral and molybdenite as the sole molybdenum carrier, with negligible deleterious minerals, supporting a clean concentrate outlook.
• Results will be used to design the next‑generation metallurgical program and underpin assumptions for an upcoming Preliminary Economic Assessment (PEA).

Key Details

• Test Program: Conducted by SGS del Perú on a 130 kg composite from drill holes MD‑043, MD‑044, MD‑045 (depths 262–928 m).
• Grind Size Optimization: Preferred P80 150 µm; recoveries at 150 µm – Cu 88.1 %, Mo 96.2 %; at 180 µm – Cu 85.7 %, Mo 94.0 %.
• pH Optimization: Robust performance across pH 9–11; pH 10 gave best overall Cu‑Mo balance (Cu 88.4 %, Mo 95.6 %); pH 11 selected for reagent work (Cu 88.85 %, Mo 95.22 %).
• Reagent Optimization (Table 4):
• Standard reagents – Cu 88.85 %, Mo 95.22 %.
• Test 01 (added PAX collector) – Cu 92.24 %, Mo 97.39 %.
• Test 02 (iron depressant) – Cu 89.77 %, Mo 96.72 %.
• Test 03 (iron depressant, no PAX) – Cu 92.30 %, Mo 94.80 % (lower concentrate grade).
• Mineralogy: XRD shows quartz ≈ 50 wt %, muscovite/illite ≈ 17 wt %, K‑feldspar ≈ 17 wt %; sulfides: pyrite 3.5 wt %, chalcopyrite 1.2 wt %, molybdenite 0.15 wt %. No enargite, tetrahedrite or other As‑bearing phases detected.
• Liberation: Chalcopyrite and molybdenite effectively liberated at 150–180 µm; 97 % of molybdenite reported as free grains.
• Next Steps: Develop integrated flowsheet, explore regrind/reagent schemes, test concentrate quality/marketability to support a robust PEA.

Notable Quotes

“The Mocoa project keeps getting better… these first metallurgical tests have already exceeded the recovery assumptions… give us strong confidence in a conventional flowsheet and will inform future economic studies.” – Ian Harris, President & CEO

All forward‑looking statements are subject to risks and uncertainties; actual results may differ materially.