I can’t see why it couldn’t be recycled? Though I think the most important issue would be its suitability to its intended use case. Recyclability would be somewhere down the list.
Separating alloys it's often much harder because alloy component tend to change phase together (so you can make them liquid, but you still have no way to separate when they are liquid) chemical bonds keeps them together. For some it's easy, let's say you add a substance that separate them, or heat separate them because they change from solid to liquid at different temperatures and so on, for many others it's complicated enough you recover little quantity of the original material spending too much in the process.