COPPER 360 LIMITED - Metallurgical test results confirm high copper recovery and concentrate grade from Rietberg copper mine drill core

Metallurgical test results confirm high copper recovery and concentrate grade from Rietberg copper mine drill core

Copper 360 Limited
(Formerly Big Tree Copper Limited)
(Incorporated in the Republic of South Africa)
Registration number 2021/609755/06
JSE Share Code: CPR           ISIN: ZAE000318531

(“Copper 360” or “the Company”)


METALLURGICAL TEST RESULTS CONFIRM HIGH COPPER RECOVERY AND CONCENTRATE GRADE FROM RIETBERG COPPER
MINE DRILL CORE SAMPLES

Highlights

     •      Cu recovery >90% (on planning of 80%) was achieved at particle size 80% passing 75 micron.
     •      The concentrate grade was greater than 48% after one cleaning step (norm is 25%).


The test results have exceeded the Company’s expectations with the net result being that more copper with less energy (and
less concentrate mass per higher copper concentration) will be recovered which will directly impact the bottom line of the
new processing plant being built in a very positive way.

Copper 360 contracted SGS Metallurgy and Mineralogy Division, South Africa (“SGS”) to conduct test work on a representative
sample of the Rietberg orebody (Project 22/2781). The sample was prepared under direction of Dr Deon Tobias Vermaakt
(PhD Geology) (SACNASP 400020/01) competent person to the Company, from four core boreholes twinned parallel to
historical drilling to validate the historical database (6 June 2023).

Preliminary batch test results released by SGS, showed recoveries of >90% at grinding sizes 80% passing 75 micron and 80%
passing 45 micron, using SIBX as collector and DOW200 as frother (Figure 1). Comparative test work with the process water
from site, using PAX as collector and MIBC as frother, showed a slight improvement in the recovery rate. Variability test work
is currently underway at SGS.

SGS prepared two rougher concentrates (Tests 4 and 5) for cleaning test work. During Test 4, a 20 minute residence time was
used, resulting in a mass pull of 8.4% and corresponding Cu grade of 22.6%. A 9 minute cleaner test yielded a mass pull of
3.84% (based on feed solids) and a final Cu grade of 48.7%. Test 5 was conducted over a shorter period resulting in a lower
mass pull and higher Cu grade of 32.9%. Cleaning of this concentrate yielded a 49.2% Cu content in the concentrate.

Figure 1

           Test No       Grind                 Reagents                  Flotation Time          Mass%       Cu Grade
                                                        Rougher Data
           Test 4      p80-75um        100g/t SIBX, DOWFrother               20 min                8,4         22,6%
           Test 5      p80-75um            15g/t PAX, MIBC                    9 min                5, 8        32,9%
                                                    Stage 1 Cleaner Data
           Test 4                                                             9 min                3,8         48,7%
           Test 5                                                             5 min                3,8         49,2%


The SGS results confirmed historical data indicating high recoveries and high concentrate grades from the Namaqualand
Copper Belt ores. The flotation is expected to be robust and reagent selection will be based on reagent availability, price
and ease of handling. Copper 360 is contracting Tailing Technology to supply the flotation cells and mechanisms.



Cape Town

4 July 2023

Designated Advisor: Bridge Capital Advisors Proprietary Limited

Date: 04-07-2023 09:00:00
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