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Altona Mining Ltd.
Summary
| Project: | Cloncurry | |
|---|---|---|
| Deposit: | Turkey Creek | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 6/21/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-6-2016: Altona Mining Ltd. announces a Resource Estimation report for its Turkey Creek deposit at the Cloncurry project. JV - First ore reserve estimate at Turkey Creek of 11.3Mt @ 0.46% Cu for 52100t Cu contained. Altona Mining Limited (“Altona” or th | |
| Resources: | (Reserve, P+P): 86Mt @ 0.50% Cu, 0.07g/t Au for 427000t Cu, 205000oz Au contained at Cloncurry total | |
| CP/QP: | [Resources]: Roland Bartsch, Dr Alistair Cowden (Internal) | |
| ABSTRACT: | Altona Mining Limited (“Altona” or the “Company”) is pleased to announce the first Ore Reserve estimate for the Turkey Creek deposit at the Company’s Cloncurry Copper Project near Mt Isa in Queensland. The Cloncurry Project is the subject of an A$330 million proposed joint venture (“JV”) with Sichuan Railway Investment Group (“SRIG”) (refer to ASX release of 2 June 2016 for further information on the SRIG JV). The planned Little Eva mining project sits within the Cloncurry Project. Turkey Creek is located 1.5 kilometres east of the planned Little Eva open pit mine and within 650 metres of a planned 7Mtpa processing plant within granted Mining Leases (Figures 1 and 3). The Reserve estimate is: 11.3 million tonnes at 0.46% copper for 52,100 tonnes of contained copper. This Ore Reserve Estimate has been made based upon the integration into the mine plan for the Little Eva mine development outlined in the Definitive Feasibility Study Update disclosed to ASX on 13 March 2014. The Turkey Creek pit will be 1.15 kilometre long and 175 metres deep (Figure 2) delivering sulphide ore to the planned nearby Little Eva processing plant. Mine schedules currently envisage the mining of Turkey Creek late in the project life. The reserve is based on resources reported at a 0.3% lower cut-off grade and is classified as a probable resource (refer to ASX release of 18 March 2015). | |
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