Kantra Copper Hits 90% Copper Recovery at Coburn, Cutting Processing Risk Ahead of PFS
Key Takeaways
- Metallurgical test work shows Coburn mineralisation can run through the existing Kanmantoo plant on the current flowsheet and reagents, with copper recoveries above 90% and gold above 50%.
- The result rests on a single composite sample grading 1.90% copper and 0.25 g/t gold, and Kantra admits PFS confidence awaits variability studies.
- Roughly 1,000 metres of drilling across 6 to 8 holes starts late October 2026, aimed at testing variability and supporting tailings and depth studies.
- Initial rail siding and transport cost assessments are due in the December Quarter, the next open item feeding PFS capital and operating costs.
- No resource size, project economics or production targets were disclosed, and Coburn remains subject to the staged Farm-In Agreement with Havilah announced on 21 May 2026.
Metallurgy derisked as Mutooroo becomes Coburn
Kantra Copper (ASX:KAN) has confirmed that metallurgical test work shows mineralisation at the Coburn copper project is amenable to processing through the existing Kanmantoo processing plant, using the current flowsheet and reagent suite. The project was previously known as Mutooroo.
Test work achieved copper (Cu) recoveries of >90% and gold (Au) recoveries of >50%. Recovery is the share of the metal in the ore that ends up in the final concentrate, so higher numbers mean less metal is lost in processing.
For investors, the result lowers metallurgical risk and supports the strategy of using existing infrastructure. It also advances the Pre-Feasibility Study (PFS), the stage that assesses whether a project is worth developing.
Bob Fulker, CEO and Managing Director
“This is a significant milestone for the Coburn PFS…”
Why the name changed
Kantra and Havilah Resources Limited agreed to rename the project after consultation with local landholders and community stakeholders. The name draws inspiration from the nearby township of Cockburn in far north-eastern South Australia, with the phonetic spelling “Coburn” adopted.
The project remains subject to the staged Farm-In Agreement (FIA) announced on 21 May 2026 with Havilah.
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Inside the metallurgical test program
The program used existing Coburn drill core. Laboratory-scale test work was undertaken using a flowsheet equivalent to the current Kanmantoo process configuration, with the same reagent suite currently employed at the operation.
Key outcomes:
- Cu recoveries exceeding 90%
- Au recoveries exceeding 50%
- Results independently peer reviewed
- Optimisation underway, including optimal grind size and the possibility of co-mingling Coburn mineralisation and Kanmantoo ore
There is an important caveat. Confidence in applying the outcomes to the PFS is pending further studies into the variability of the deposit following further targeted drilling results.
The test used a single composite sample from the primary pyrrhotite-chalcopyrite domain. The weighted average grades of the core used were:
| Metric | Weighted average |
|---|---|
| Au (g/t) | 0.25 |
| Cu (%) | 1.90 |
| Co (ppm) | 2,159.6 |
Kantra considers metallurgy to be substantially derisked for the purposes of the current phase of the Coburn PFS.
Metallurgical testing explained
Testing ore against an existing plant’s flowsheet (the sequence of processing steps) and reagents (the chemicals used) shows how the material may behave in that plant. If the ore suits the current setup, less new processing equipment may be needed.
That is why the result matters to the PFS. It addresses a technical question early, before further cost estimates are built on it.
The single composite does not capture variation across the deposit, which is why the planned drilling matters.
Next steps: rail logistics and drilling
With metallurgy addressed, Kantra is turning to two workstreams.
| Workstream | Scope | Timing | Purpose |
|---|---|---|---|
| Rail logistics | Rail siding capital requirements and transport operating cost assumptions | Initial assessments expected in the December Quarter | Inform capital and transport operating costs in the PFS |
| Drilling | Approx. 1,000 metres across 6 to 8 holes | Scheduled to start late October 2026, after an early October geophysical survey | Support studies and further derisk development |
The drilling program has been designed to:
- Identify geological domains and provide additional metallurgical samples to assess potential variability in metallurgical performance
- Generate material for tailings characterisation test work to support future Program for Environment Protection and Rehabilitation (PEPR) and tailings storage facility studies
- Validate key geological and technical datasets used in project evaluation
- Support the design of future drilling to evaluate mineralisation at depth, informed by the upcoming geophysical survey
The program will contribute toward Kantra’s minimum drilling commitments under the FIA.
A recent airborne survey has been completed to support environmental baseline studies, so these workstreams do not become a critical path item. Engagement with local stakeholders and community groups is continuing.
Bob Fulker, CEO and Managing Director
“With metallurgy now derisked, our focus is turning to derisking rail logistics and the initial drilling program, with the objective of reaching an outcome during the December Quarter.”
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What it means for Kantra investors
Kantra considers metallurgy substantially derisked for the current phase of the PFS. What remains are rail logistics and drilling variability, with rail assessments expected in the December Quarter and drilling due to start in late October 2026.
The announcement does not disclose a resource size, project economics or production targets, so those remain unknown. Watch the variability results, since they will test how far the single-composite recoveries hold across the deposit.
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