Greenstone hungry to complete Scoping Study at Mt Thirsty Project

Greenstone Resources (ASX:GSR) expects the recently launched Scoping Study at its 50% owned Mt Thirsty Co-Ni-Mn-Sc Project in Western Australia is now expected to be completed by mid-late November 2023.

A team of independent consultants has been engaged to undertake a Scoping Study at Mt Thirsty, including Simulus and WSP Australia.

Simulus is a hydrometallurgy and mineral processing services group that specialises in metallurgical testwork, process simulation, engineering studies, and the development of hydrometallurgical flowsheets. Simulus has been involved in the assessment, development, design, commissioning, or operation of 22 nickel projects over the past 19 years.

The current Scoping Study is incorporating a number of previously identified project optimisations, in particular the adoption of High-Pressure Acid Leaching (HPAL) and the addition of a cathode precursor plant to produce a Precursor Cathode Active Material (pCAM).

Mt Thirsty is located 16km north-northwest of Norseman and is a 50:50 joint venture with Conico (ASX:CNJ) and is supported by a network of existing infrastructure including road, rail, port, and power.

The project hosts the Mt Thirsty cobalt-nickel-manganese-scandium deposit, with a current JORC Resource of 66.2 million tonnes @ 0.06% cobalt; 0.43% nickel and 0.45% manganese.

A Prefeasibility Study (PFS) was previously completed on the existing resource of 26.9Mt at 0.126% cobalt, and 0.54% nickel. Drilling in 2022 identified scandium within the resource, of up to 78m @ 46.4 g/t Sc from 3m which was previously untested for. The company saus scandium oxide may provide a valuable by-product revenue stream.

The previously released PFS employed atmospheric leaching as the extraction method, resulting in lower metal recoveries and was also completed during a period of subdued commodity prices, which understated the Project’s potential to provide a low-cost, ethical, and sustainable source of cobalt and nickel outside of the Democratic Republic of the Congo and Russia.

Since the completion of the PFS in early 2020, a number of project optimisation opportunities have subsequently been identified which may have a material impact on the Project economics, including the adoption of HPAL and the production of a pCAM product.

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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.