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Aurelia Metals Ltd.
Summary
| Project: | Hera-Nymagee | |
|---|---|---|
| Deposit: | Nymagee | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Lead-Zinc | |
| Date: | 5/2/2017 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 2-5-2017: Aurelia Metals Ltd. announces a Scoping Study report for its Nymagee deposit at the Hera-Nymagee project. Scoping study proposes underground mine and a LOM of 3.5-4 years. Aurelia Metals Limited (“AMI” or the “Company”) is pleased to announce th | |
| Resources: | (Resource, I+I): 8.1Mt @ 1.2% Cu, 0.3% Pb, 0.7% Zn, 9g/t Au at Nymagee | |
| CP/QP: | [Resources]: Dean Fredericksen (Internal) | |
| ABSTRACT: | Aurelia Metals Limited (“AMI” or the “Company”) is pleased to announce the results of the Nymagee Scoping Study (“Study”) were positive and justify the Company committing to the next stage of development being a Pre-Feasibility Study (PFS). Aurelia’s Managing Director & CEO, Jim Simpson comment: “The Scoping Study has confirmed that Nymagee is a viable high grade underground opportunity which provides additional overall mine life for the Hera/Nymagee project and gives a solid operating base from which to grow. Activity at Nymagee will now focus on the Pre-feasibility Study to provide more accuracy and review alternative mining and processing options.” said Mr Simpson. The Study assumes the Nymagee Mine (“Nymagee”) would commence at the end of the Hera LOM, and benefit from installed infrastructure at Hera. The Study has a defined level of accuracy of +/- 30%. The Company invested $15.8M in exploration drilling during 2010-2012, culminating in the December 2011 Nymagee Resource Estimate. The Nymagee resource has been reassessed as part of this Study, applying mining modifying factors and a $140/t NSR cut-off, generating a Production Target of 1.38 Mt at 2.2% Cu, 1.58% Pb, 3.15% Zn and 23 g/t Ag (NSR1 of $199/t). Mine life is estimated at 3.5-4 years at a processing rate of 380-400,000 t/y. Forecast life of mine total payable metal production is 24-30 kt copper, 25-30 kt Zn, 10-20 kt Pb and 600-700 koz Ag. Pre-production capex is estimated to range between $20M-$25M (mine development and surface infrastructure). | |
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