Coniagas Battery Metals Inc. [TSXV-COS] reported significant initial sample results, showcasing encouraging copper and cobalt grades from the offshore stockpiles identified for evaluation using the Re-2Ox hydrometallurgical process. This development marks an essential step in the company’s mission to become a leading supplier of critical battery metals for the North American electric vehicle (EV) industry.
The preliminary assays reveal copper and cobalt concentrations of 1.76% copper and 0.36% cobalt from one of the identified stockpiles containing 3,000,000 tonnes, highlighting the potential for high-grade materials. These results reinforce the urgency of further detailed analysis and underscore our strategic focus on securing quality feedstock for our domestic operations.
As China continues to dominate the global clean energy manufacturing sector, accounting for 85% of the world’s investment in this area in 2022, Coniagas’ efforts to localize production and secure a reliable supply chain are crucial, according to The New York Times.
The strategic location of our full production facility in Quebec will leverage the province’s robust infrastructure, green power, and access to critical ports, positioning Coniagas at the forefront of North America’s EV battery supply chain revolution.
The company’s feed-first approach not only ensures the consistency and quality of materials but also aligns with broader geopolitical efforts to reduce reliance on Chinese imports. By developing a domestic loop using recycled critical metals, Coniagas is poised to help disrupt this dependency and foster a more sustainable and secure supply chain.
Frank Basa, P.Eng., Order of Engineers Ontario, President and CEO of Coniagas, emphasized, “Our feed-first strategy is crucial in establishing Coniagas as a key player in refining and processing high-grade copper, nickel, and cobalt products. This includes producing cobalt sulfate for the expanding domestic EV cell manufacturing market, a sector that is essential for reducing our dependence on Chinese imports.”
Matthew Halliday, P.Geo., Qualified Person (QP) for Coniagas, added, “The upcoming steps in our evaluation process are designed to ensure the quality and consistency of our stockpile materials. Our collaboration with SGS in Quebec is vital for advancing the Re-2Ox process towards pilot and full-scale production.”
Coniagas remains dedicated to advancing its strategic vision of becoming a leading supplier of critical battery metals. Our approach not only addresses immediate supply chain vulnerabilities but also contributes to the long-term sustainability of the EV industry.
“Our initiatives are geared towards fostering a responsible and ethical supply chain that meets the highest environmental and labor standards, positioning Coniagas as a leader in sustainable battery metal production.”
Coniagas Battery Metals is focused on nickel, copper, cobalt, and platinum group metals in Quebec. The company has achieved notable success with geophysics and shallow drilling at its 100%-owned Graal project near Saguenay, Quebec, consistently hitting mineralization. This success has confirmed an open-pit deposit model along a 6 km strike of high-grade nickel and copper, with cobalt, platinum, and palladium byproducts. Upcoming plans include further drilling, a Ni 43-101 resource report, metallurgical testing, and consultations with First Nations.
