Clean TeQ Holdings Limited (ASX:CLQ) Signs Copper Recovery MOU with Carbine Resources

Clean TeQ Holdings Limited (ASX:CLQ) is pleased to announce it has signed a Memorandum of Understanding (MOU) with Carbine Resources Limited (ASX:CRB) for the use of the Clean-iX(R) technology to recover copper resources at the historic Mount Morgan Gold & Copper Mine in Queensland.

Clean TeQ will work with Carbine to integrate the Clean-iX(R) process into the flow sheet which reprocess gold, copper and pyrite tailings at the mine.

Carbine recently completed a scoping study to confirm the technical and economic viability of the proposed flow sheet, which includes the use of Clean-iX(R) for copper recovery. Further optimisation studies will also assess the use of the technology in gold extraction and general water treatment.

Clean TeQ Chairman Mr Sam Riggall, commented: "This MOU provides an important opportunity for Clean TeQ to generate value using our innovative ion exchange technology for the recovery of metals from the Mount Morgan mine. It also builds on our strategy to leverage our technology to create added value in resource recovery projects."

Carbine Resources has an earn-in agreement with Norton Gold Fields Limited (ASX:NGF) to acquire the mining leases over the historic Mount Morgan mine (see CRB's ASX Announcement 03 April 2014). The mine itself operated for more than a century producing vast quantities of gold, copper and silver and leaving behind significant metal containing tailings.

For more detail on the Mount Morgan Gold & Copper Project and its JORC resources, please view the Carbine Resources website.


About Clean TeQ Holdings Limited

Clean TeQ Holdings Limited (ASX:CLQ) is a world leader in water treatment and resource recovery technology and the Australian leader in biological air purification. Clean TeQ develops technologies in-house and partners with leading technology suppliers worldwide.

The Company offers a range of business models to potential clients including licensing our technology, building and commissioning complete installations (both transportable and fixed), and building and operating installations in joint ventures, in return for a share of revenues generated through resources recovered. Clean TeQ will also acquire mining assets where its technologies can make exploitation of uneconomic ore bodies or re-processing of tailings profitable.

For more information about Clean TeQ please visit the Company's website at www.cleanteq.com.

   

Related Companies

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Clean TeQ Holdings Limited
    

Carbine Resources Limited