Cobalt Blue Holdings Ltd (COB) has entered into a testwork co-operation agreement with OZ Minerals Ltd. The testwork will evaluate the application of COB technology to recover cobalt, copper and gold from a pyrite concentrate. A key aim will be to assess if a high purity cobalt sulphate can be produced from the concentrate. OZ Minerals will provide COB with a 10-15 kg sample of pyrite concentrate.

COB has successfully developed a processing technology for recovering cobalt from pyrite at the Broken Hill Cobalt Project. The 2018 PFS reported cobalt recoveries of 85-86% from ore to final cobalt sulphate product. OZ Minerals is scheduled to commission the Carrapateena copper-gold project in South Australia in Q4 2019. They are now evaluating optimisation opportunities and have engaged COB to complete testwork to assess whether copper, gold and cobalt can
be recovered from a pyrite concentrate using COB proprietary technology.

Discussions between the parties have identified possible similarities between the cobalt-pyrite minerals at the Broken Hill Cobalt Project and at Carrapateena. The initial testwork will focus on the technical viability of COB technology, and will not optimise metal recoveries, which may be the subject of further studies.