Chase Mining Corporation Limited (ASX: CML) is a metal and mining company based in Queensland, Australia. The company changed its name on 14 January 2019 from TopTung Limited (ASX: TTW). The company’s new website, www.chasemining.com.au will be live from 18 January 2019.
The company is currently working on the Torrington Project located in northern New South Wales. The project is being operated by CML's wholly owned subsidiary, Torrington Minerals Pty Ltd. The area contains potential mineralization of gold, tungsten, topaz, and bismuth.
Today, the company has announced that the report from the University of New South Wales (UNSW) contained quantifiable results and a significant processing breakthrough in the production of mullite fibre from Torrington sourced topaz concentrate. The ultimate aim of the research programme was to generate separable mullite fibre which is being produced now. It has further resulted in cost savings as the topaz no longer requires grinding or pelletizing, and the company is now able to operate at lower furnace temperature.
As per the previous reports, mullite whisker formation from topaz was only possible at elevated temperatures (?1600°C) following milling of topaz and pressing topaz into pellets. The present work shows that a pure, separable, mullite whiskers can be produced from as-received minus 1mm topaz concentrate from Torrington packed as a loose, but enclosed bed at temperatures lower than 1600°C in ?2 hours.
The present work reports data for the conversion of a received topaz (not milled) in a loosely packed bed using an enclosed crucible arrangement. The calcination was done at 1400°-1600°C for 1-3 hours using relatively rapid feed rates (70-120 sec over a 54 cm transit distance). The samples were examined by field emission scanning electron microscopy (FESEM) and X-ray diffraction (XRD).
The XRD patterns exhibit only one crystalline phase of mullite, and each diffraction peak was assigned a crystallographic plane in the mullite crystal. But no secondary phases such as alumina and silica were observed.
In the coming future, the company plans to investigate topaz conversion at lower temperatures in closed crucibles along with the conditions conducive to the growth of fibres. It is also planning for the development of means of separation and classification of mullite whiskers.
In collaboration with the UNSW, it has been agreed that Topfibre (Pty) Ltd. will fund the initial trials for metal infiltration of mullite fibre preforms and secure the IP before seeking external assistance funding. Topfibre (Pty) Ltd. is also a wholly owned subsidiary of Chase Mining Corporation Limited.
Looking at the Chase Mining Corporation Limited’s stock performance and the return it has posted over the last few months, the stock has generated a negative return of 55.0% during the past six months. The shares settled flat at $0.018 on 15 January 2019. The company has ~206.96 million shares outstanding with the market cap of circa $3.73 million. Its 52-week high and low are marked at $0.017 and $0.065 respectively.