Critical minerals explorer EQ Resources (ASX:EQR) has achieved a new monthly record at its Mt Carbine Tungsten Mine in Far North Queensland, with 110 tonnes of 50% tungsten concentrate produced.
The company, which has a $110.58 million market capitalisation, says July tungsten production was nearly double what Mt Carbine produced in June, and the increase was driven by the processing of the first primary ore from the Andy White open pit.
EQ reports the head grade of the initial open pit production and grade control drilling has met expectations, as announced on 19 July 2023, with positive concentration results reflecting through the increased production for the month.
The company’s understanding of the mining of the ore body with successive blasts is leading to increased efficiency and handling through its 4-stage treatment process, which incorporates crushing, screening, ‘high-tech’ X-ray transmission (XRT) ore sorting, and gravity treatment, as the planned ramp-up continues. EQ notes the gravity plant run time for the month was 85%.
EQ says concentrate produced at Mt Carbine is bagged and transported by road to the Port of Townsville and is sent on to global customers through existing sale arrangements.
Commenting on the production record, EQ Resources Chief Executive Officer (CEO) Kevin MacNeill says: “The team at Mt Carbine have hit their stride. They have trusted the process and are now seeing the rewards of their focused efforts.
This is the first month that we have mined in the Andy White open pit. We are satisfied with the performance of the processing plant, which will ramp up processing of primary ore over the coming months while substituting low-grade stockpile feed materials to have a blended, consistent feed to the processing plant.
“The team at Mt Carbine have hit their stride”
We are particularly excited by the performance of our 2 Tomra sorters, which are designed to operate in tandem and handle 120 tonnes of primary ore per hour.
We look forward to updating our stakeholders on a regular basis as we confidently continue achieving the steps we have laid out to guide Mt Carbine to its targeted level of steady-state production.”
EQ Resources is a critical minerals explorer that aims to be the preeminent tungsten producer in Australia. The company’s portfolio includes the Mt Carbine Tungsten Mine in Far North Queensland, along with the Panama Hat and Crow Mountain gold exploration licences in New South Wales.
As of 30 June 2023, the company had $5.336 million cash at hand, according to its latest quarterly report published on 31 July 2023.
Write to Harry Mulholland at Mining.com.au
Images: EQ Resources Ltd
