PM1 SP holding well considering how the ASX is tracking today , some may need a change of underwear come end of trading day .
The last 2 acquisitions , Battery Hub and Morrissey Hill as described have been impressive .
Pure Minerals has announced the acquisition of fellow battery metals play Queensland Pacific Metals (QPM), which is aiming to establish a battery-grade nickel-cobalt processing plant in Townsville, Queensland
Pure Minerals’ (ASX: PM1) future subsidiary Queensland Pacific Metals has confirmed that Direct Nickel Projects’ proprietary technology is “ideally suited” to processing New Caledonian nickel and cobalt ore. According to Pure Minerals, test work results “exceeded expectations” with nickel and cobalt generation greater than 95% in under four hours.Through this longstanding relationship, QPM has secured a binding supply agreement to purchase 600,000 tonnes per year of high-grade nickel-cobalt ore.“It’s a unique opportunity — those contracts aren’t secured by just anyone,” Pure Minerals chairman Jeremy King says.
Pure Minerals establishes itself as a low cost EV metals explorer with a colbalt deal
(ASX
M1), which already has a good portfolio of manganese and lithium projects, has inked a deal to earn up to a 75 per cent stake in a cobalt project in Missouri, US.
The 11.5 sq km landholding is located within 5km of one of the largest known cobalt resources in the US.
OUTSTANDING MANGANESE AND COBALT LEACH KINETICS IDENTIFIED AT BATTERY HUB PROJECT
• Results exceed expectations, with 95%-99% manganese recovery and 85%-90% cobalt recovery
• Exceptionally fast leach kinetics, with leaching equilibrium met in less than 30 minutes
• Weak leach kinetics of contaminant iron indicates a higher-purity solution can be produced
• Confirms potential to produce high-purity manganese products and cobalt across the major types of mineralisation at Battery Hub
• Pure Minerals to assess refining metallurgical testwork and calculating a maiden resource
The results confirm and exceed Pure Minerals’ expectations, first outlined in June 2018, of attractive leach recoveries at Battery Hub.
Pure Minerals has de-risked a key component of the Battery Hub project prior to engaging in the more expensive aspects of mineral development, such as resource drilling and bulk sampling – potentially significant given the 70km-long strike length of mineralisation. The successful leaching testwork provides Pure Minerals with greater confidence to advance the project further.INFILL SOIL SAMPLING DEFINES HIGH-PRIORITY LITHIUM-TANTALUM TARGETS AT MORRISSEY HILL PROJECT • Objective achieved in improving the resolution of the 5km-long x 1 km wide anomaly announced in October 2017 • One high-priority lithium-tantalum anomaly and at least one other priority tantalum anomaly identified • Previous rock chip samples within these anomalies have returned up to 1.31% Li2O and 238.7 ppm Ta2O5 • Similarities to initial results from nearby lithium discoveries
Next Steps at Morrissey Hill Having successfully defined high-priority lithium-tantalum soil anomalies, Pure Minerals believes that a targeted program of drilling testwork is warranted and has begun planning to that effect.
