EQ Sources (ASX:EQR) stated Tuesday (October 15) that it has acquired AU$250,000 from the Queensland authorities’s Mining Gear, Expertise and Companies (METS) Collaborative Mission Fund.
The cash will probably be used for superior X-ray transmission (XRT) ore-sorting trials on the Wolfram Camp tungsten mine.
The METS Collaborative Mission Fund is a AU$2.67 million challenge that goals to help firms, researchers and companies in creating tasks that tackle environmental and security challenges within the useful resource sector.
“This funding is vital to advancing our technique at Wolfram Camp, as a part of our Queensland Tungsten Cluster, enabling us to deploy cutting-edge applied sciences and experience to unlock the positioning’s potential,” stated EQ CEO Kevin MacNeill.
The corporate additionally underlined that it’s proud to contribute to Queensland’s imaginative and prescient of re-commercialising former mines, and to the general improvement of the crucial minerals sector within the state.
The superior XRT ore-sorting trials will assess the viability of redeveloping the historic Wolfram Camp tungsten mine.
The work will probably be accomplished by a consortium led by EQ. Collaborator Tomra Sorting will present industrial XRT sorters for the challenge. The College of Queensland can also be collaborating via its Sustainable Minerals Institute, which can lead geometallurgical characterisation of the stockpiles and give attention to tungsten and molybdenum deposits.
EQ secured an exploration allow for Wolfram Camp mine on June 18. The challenge is situated 100 kilometres southwest of the corporate’s working Mount Carbine tungsten mine, the place EQ not too long ago hit a brand new month-to-month manufacturing file.
“(This proximity) represents a novel alternative to revitalise a historic mining area and kind a part of a possible Tungsten Cluster EQR has been advocating with the federal government,” EQ stated in its press launch.
As the corporate works to judge Wolfram Camp’s potential, it’s seeking to spend the following three years on work akin to a complete regional evaluate and exploration packages, together with new mapping, soil and geophysical surveys, high-resolution magnetic imaging and drill testing over 10,000 metres.
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Securities Disclosure: I, Gabrielle de la Cruz, maintain no direct funding curiosity in any firm talked about on this article.
