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Aeon Metals Ltd.
Summary
| Project: | Walford Creek | |
|---|---|---|
| Deposit: | Walford Creek | |
| Location: | Australia | |
| Commodities: | Copper-Cobalt-Lead-Zinc-Silver | |
| Date: | 4/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 18-4-2017: Aeon Metals Ltd. announces a Scoping Study report for its Walford Creek deposit at the Walford Creek project. Scoping study results incl. post-tax NPV of A$458M, IRR of 19%, LOM of 15yrs. Aeon Metals Limited (“Aeon” or “the Company”) advises it | |
| Resources: | (Resource, I+I): 73.3Mt @ 0.4% Cu, 0.081% Co, 0.85% Pb, 0.85% Zn, 23.5g/t Ag at Walford Creek | |
| CP/QP: | [Resources]: Simon Tear (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | Aeon Metals Limited (“Aeon” or “the Company”) advises it has now completed a Preliminary Scoping Study of a development to exploit the Walford Creek Global Resource. A Preliminary Economic Assessment (“PEA”) has already been completed on the Vardy high grade section of the Walford Creek Resource and Aeon is proceeding to a Bankable Feasibility Study on the Vardy project aiming to produce in Year 1 some 10 kt of copper, 2 kt of zinc and 0.5 kt of cobalt as early as 2019, for a currently estimated capital cost of $97.4 million. The Vardy Resource is, however, only approximately 9% of the currently estimated Walford Creek Global Resource which is estimated to contain, notably, 60 kt of cobalt, 295 kt of copper, 623 kt of zinc, 626 kt of lead and 55 Mozs of silver. The Preliminary Scoping Study which has now been completed, considers mining the Walford Creek Global Resource at a rate of 2.5 Mtpa for 15 years. This Study shows clearly the potential for Walford Creek beyond the smaller Vardy project and, importantly, it shows the key issue of acid sales which needs to be resolved to tap the full potential of Walford Creek. The Scoping Study indicates a project on this scale could produce on average some 1.2 ktpa of cobalt, 8 ktpa of copper, 15 ktpa of zinc and 13 ktpa of lead and would generate some 1,300 ktpa of sulphuric acid for sale which, at an assumed sale price of US$100 per tonne, would represent some 45% of project revenue. | |
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