Boost for Walford Creek mineral resource estimate
The total resources for the Vardy and Marley deposits now stand at 35.8 million tonnes at 1.94 per cent copper equivalent over 3.6km strike.
There is a significant increase to the Amy mineral resources from 1.8 million tonnes to a total of 5.1 million tonnes at 2.63 copper equivalent.
Aeon managing director and chief executive officer Hamish Collins said the updated mineral resources for Walford Creek reflected excellent drilling outcomes delivered this year.
“We have now successfully upgraded over 95 per cent of all Vardy and Marley mineral resources to the higher confidence measured and indicated classifications,” he said.
“Our technical team has concurrently delivered a sizeable increase in the Amy mineral resource to over 5mt at a copper-equivalent grade of 2.6 per cent.
“The new mineral resource estimates have been timed for incorporation in the Walford Creek pre-feasibility study, which is due for completion in the second quarter of calendar 2020.
“The over 25 per cent higher tonnage of M&I Mineral Resources at Vardy/Marley further lifts confidence in the endowment from which a maiden Ore Reserve can be estimated.
“Additionally, the sizeable increase in the Amy Mineral Resource, will allow it to be included in the Walford mine schedule for the first time. This offers further potential mine life and economic upside to the existing Scoping Study estimates.”
GBM Resources is continuing to build on its Drummond Basin gold strategy by snapping up the Yandan gold project in the same region as its flagship Mou...
CIMIC Group has reached a deal to sell a 50 per cent stake in mining services arm Thiess to hedge fund Elliott Management.The deal will put up to $1.9...