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Chase Mining reawakening Torrington’s potential in line with strong tungsten market

Published: 09:26 26 Aug 2021 AEST

Chase Mining Corporation Ltd - Chase Mining reawakening Torrington’s potential in line with strong tungsten market

Chase Mining Corporation Ltd (ASX:CML) will revisit the development of its 100%-owned Torrington Project in northern New South Wales with the aim of co-producing critical mineral tungsten along with topaz.

Strong tungsten concentrate pricing along with the company’s positive metallurgical test-work and flowsheet employing industry-proven gravity separation and concentration technology support the new focus.

Tungsten’s status strengthens

It coincides with tungsten’s strengthening global status as a strategic mineral and metal that includes it being ranked as a critical mineral in Australia.

With the tungsten concentrate sitting around US$18,000 per tonne, which is up around 25% year-on-year, the company believes now is a good time to assess Torrington’s potential.

Torrington well advanced

The project is well advanced with the plan for processing involving proven benign water or air-based gravity concentration methods without the use of chemicals.

Another positive for this strategy is that cashflow from the sales of topaz as an abrasive would de-risk tungsten co-production.

Topaz research project

Chase Mining is in discussions with potential industry and financial partners to progress outcomes of the topaz derived mullite fibre research proof-of-concept desktop stage.

The company is well-positioned to progress this tungsten and topaz strategy in the near term.

While it works on commercialising many of the potential disruptive technology trajectories, it can progress site development and begin production of Topaz concentrate for use in the future production of mullite fibre.

The most recent and ongoing NSW COVID-19 outbreaks and restrictions have directly impacted the progression of the company’s other activities, whereas Torrington is only 60 kilometres from its operating base in the town of Tenterfield.

In conjunction with the Torrington focus, Chase Mining continues to review several complementary projects that would be a strategic fit for the company and would add value for shareholders.

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