EQ Resources (ASX:EQR) reports a new daily concentrate production record at its Mt Carbine Tungsten Mine in Far North Queensland, in line with the mining and production ramp-up schedule.
The $108.27 million market capitalisation company says operations team have produced a new record of 11.1 tonnes of 50% WO3 concentrate across a 24-hour shift roster from its Mt Carbine open pit mining operations.
EQ Resources has seen significant benefit in the installation of its new TOMRA in July which has some of the upgraded program benefits of the newer generation programming on the sorters. Improved accuracy is leading to a cleaner XRT Sorter concentrate for downstream processing and increased running time of the sorting plant.
Another positive being seen in the Gravity Plant is that the higher the grade of the feed to the plant, the higher the tungsten recovery rate is.
For July and August, the plant has held a recovery of +80% recovery with September to date seeing a tungsten recovery of +85% WO3 which is very significant for the operation and currently better than expected through the feasibility work completed. Average daily production in the past week ahead of this announcement was above 8 tonnes of 50% WO3 concentrate, a resulting benefit of the higher-grade ore coming from the Open Pit and through the Gravity Plant.
“The open pit operations are still ramping up and operating at around 65% capacity to date, which is in line with our ramp-up schedule“
Addressing the results, EQ Resources Chief Executive Officer Kevin MacNeill says: “The open pit operations are still ramping up and operating at around 65% capacity to date, which is in line with our ramp-up schedule.
So, there is still additional capacity to be added to our production profile which we are seeing as the Golding and EQR teams settle into their respective roles with the open cut mining and associated production.”
EQ Resources is an ASX-listed with tungsten assets at Mt Carbine in North Queensland; leveraging advanced technology, historical stockpiles and unexploited resource with the aim of being the pre-eminent tungsten producer in Australia.
The company also holds gold exploration licences in New South Wales.
Write to Adam Orlando at Mining.com.au
Images: EQ Resources
