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Capstone wants to unlock Chile's 'vast' battery-grade cobalt potential

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(Kitco News) - Capstone Mining (TSX:CS) today announced that it intends to advance the cobalt project at Santo Domingo in Region III, Chile, to feasibility.

According to the company's statement, the production of battery-grade cobalt sulphate at Santo Domingo is expected to significantly add to the robust copper-iron-gold project and to maximize the recovery of future facing metals from this rich resource.

Capstone added that the potential of cobalt production in Chile has been underappreciated for decades while copper and, recently, lithium have been the main focus of investment. Capstone's plans for a cobalt feasibility study at Santo Domingo could represent a great step forward and an example of Chile's potential to become an important world producer.

Darren Pylot, Capstone President and CEO said, "Capstone has an incredible opportunity to produce ethically-sourced battery-grade cobalt sulphate from Santo Domingo's future copper-iron tailings stream. The process is a series of conventional steps, with below zero costs given significant by-product credits."

Santo Domingo's PEA estimated costs of -$4 per pound (net of by-products in cobalt operation) positions it to be a unique, fully integrated producer of battery-grade cobalt sulphate. Santo Domingo will be the only cobalt sulphate project in the Americas not dependent on third-party DRC feed, the company noted.

Capstone Mining is a Canadian base metals mining company, focused on copper. The company's two producing mines are the Pinto Valley copper mine located in Arizona, US and the Cozamin copper-silver mine in Zacatecas State, Mexico. In addition, Capstone owns 100% of Santo Domingo, a large scale, fully-permitted, copper-iron-gold project in Region III, Chile, as well as a portfolio of exploration properties.

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