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Aeon Metals Ltd.
Summary
| Project: | Walford Creek | |
|---|---|---|
| Deposit: | Vardy | |
| Location: | Australia | |
| Commodities: | Copper-Cobalt-Lead-Zinc-Silver | |
| Date: | 3/6/2017 | |
| Report Code: | JORC | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-3-2017: Aeon Metals Ltd. announces a PEA report for its Vardy deposit at the Walford Creek project. Amended PEA results incl. projected LOM revenue of $579M. Preliminary Economic Assessment (“PEA”) for development of the high grade Vardy Zone within Aeo | |
| Resources: | (Resource, Total): 6.6Mt @ 1.25% Cu, 0.1640ppm Co, 0.74% Pb, 0.76% Zn, 25.6ppm Ag | |
| CP/QP: | [Overall Report]: Dan Johnson (Internal) | |
| ABSTRACT: | Preliminary Economic Assessment (“PEA”) for development of the high grade Vardy Zone within Aeon 100% owned Walford Creek Project indicates a technically conventional and economically robust project. This PEA is in substance a Scoping Study in terms of Clause 38 of the JORC Code 2012 and the title is intended to make clear that the findings are at this point preliminary estimates only. Aeon Metals Limited (“Aeon” or the “Company”) is pleased to announce results of the Preliminary Economic Assessment (“PEA”) for a proposed open pit mine and onsite processing of the Vardy Zone at the Walford Creek Project (“Project”) located in north west Queensland. The technical and associated financial outcomes of the PEA are highly encouraging notwithstanding that they are necessarily approximations at this point but nevertheless highlight the potential to expedite the development of the Vardy Zone. Aeon will now proceed with a Vardy Zone Bankable Feasibility Study (“BFS”). The Vardy Zone development is a copper-zinc-cobalt mining project based on a Resource that will allow 6 years of open pit mining of the Vardy Zone at a production rate of 600 ktpa run-of-mine (“ROM”) material. The indicative construction start date contemplated for the Project is Q1-2019 assuming the receipt of all necessary Government approvals. The Project is located in an area subject to the northern wet season which precludes significant construction activity between November and March so that regulatory and funding delays may have an extended effect on the timeline. Material reporting from the open pit will be processed through a conventional mill and hydrometallurgical plant to produce copper and zinc concentrates, and cobalt hydroxide. Product will be transported by road to Townsville for export to world markets. | |
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