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Tri Origin Minerals Ltd on Thursday said its JORC-compliant base and precious metals resources had exceeded 25 million tonnes, delivering on its promise to double resources at the company’s flagship projects in New South Wales during the last year.
Managing director Bruce Robertson said resources at the company’s main zinc-copper project at Woodlawn had been boosted by 8.6 million tonnes which represent tailings from the west and south tailings dams.
This adds to the previously announced JORC resource of 10.1 million tonnes for Woodlawn’s underground project. Another 2.5 million tonnes is anticipated to be added from a third tailings dam at Woodlawn after it has been drilled and evaluation studies are completed.
In addition, Tri Origin had previously outlined 6.6 million tonnes of base and precious metals resources at the nearby Lewis Ponds project.
“This is a significant resource base for the company, particularly at Woodlawn and leads to the potential to develop a 2 million tonne per annum operation at Woodlawn,” Mr Robertson said.
He said the company was on track to deliver an economic evaluation and commercial framework for Woodlawn through a bankable feasibility study in the first quarter of 2008, with broad capital cost estimates of around $150 million.
“A positive economic evaluation from the bankable feasibility study would likely result in a tailings retreatment project in the order of 1.5 million tonnes per annum and an underground operation producing 440,000 tonnes per annum,” he said.
Mr Robertson said Tri Origin would establish an integrated project to blend a low grade concentrate from tailings dams retreatment at Woodlawn, with higher grade concentrate from the underground project.
“Combined tonnage throughput would give us the benefit of significant operating economies of scale with the potential to produce 120,000 – 130,000 tonnes of concentrates at the site per annum.”
Mr Robertson said the zinc focused Woodlawn project is underway during a time of continued buoyant prices for base metals, with plenty of scope for smelters within the Asian region to consume further zinc concentrate from international suppliers.
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Managing director Bruce Robertson said resources at the company’s main zinc-copper project at Woodlawn had been boosted by 8.6 million tonnes which represent tailings from the west and south tailings dams.
This adds to the previously announced JORC resource of 10.1 million tonnes for Woodlawn’s underground project. Another 2.5 million tonnes is anticipated to be added from a third tailings dam at Woodlawn after it has been drilled and evaluation studies are completed.
In addition, Tri Origin had previously outlined 6.6 million tonnes of base and precious metals resources at the nearby Lewis Ponds project.
“This is a significant resource base for the company, particularly at Woodlawn and leads to the potential to develop a 2 million tonne per annum operation at Woodlawn,” Mr Robertson said.
He said the company was on track to deliver an economic evaluation and commercial framework for Woodlawn through a bankable feasibility study in the first quarter of 2008, with broad capital cost estimates of around $150 million.
“A positive economic evaluation from the bankable feasibility study would likely result in a tailings retreatment project in the order of 1.5 million tonnes per annum and an underground operation producing 440,000 tonnes per annum,” he said.
Mr Robertson said Tri Origin would establish an integrated project to blend a low grade concentrate from tailings dams retreatment at Woodlawn, with higher grade concentrate from the underground project.
“Combined tonnage throughput would give us the benefit of significant operating economies of scale with the potential to produce 120,000 – 130,000 tonnes of concentrates at the site per annum.”
Mr Robertson said the zinc focused Woodlawn project is underway during a time of continued buoyant prices for base metals, with plenty of scope for smelters within the Asian region to consume further zinc concentrate from international suppliers.
Starlink Media TM
