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Carnaby Resources Ltd.
Summary
| Project: | Tick Hill | |
|---|---|---|
| Deposit: | Tick Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/5/2020 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-6-2020: Carnaby Resources Ltd. announces a Pre-Feasibility Study report for its Tick Hill deposit at the Tick Hill project. PEA results for the Tick Hill Gold Project. The PFS is based on an optimised open pit cutback of the existing 70 m deep Tick Hill | |
| Resources: | (Resources, I+I): 845kt @ 2.47g/t Au (67.1koz Au) | |
| CP/QP: | [Overall Report] Paul tan, Robert Watkins, Nigel Spicer (Not stated) | |
| ABSTRACT: | The PFS is based on an optimised open pit cutback of the existing 70 m deep Tick Hill open pit and re-processing of the tailings dams and historic ROM pad. The PFS contemplates a conventional open cut mine will be established using all-wheel drive truck and shovel operations, conducted by an experienced mining contractor. The Tick Hill ore will be hauled to nearby processing facilities for toll treatment. Following a 2 month site establishment period, the mining and toll processing operation is expected to run for a period of 13 months. Mining and processing of the tailings dams and historical ROM pad is scheduled to commence in advance of the development of the Tick Hill open pit, allowing the generation of immediate cash flow and reduces working capital requirements associated with the development of the Tick Hill open pit. The Tick Hill tailings dam comprises two dry adjoined tailings paddocks that have remained on site since processing of Tick Hill ore was curtailed in 1994. All of the East Paddock (285,000 t @ 1.42 g/t for 13,000 oz) and the high grade portion of the West Paddock (120,000 t @ 1.07 g/t for 4,100 oz) has been converted to an Ore Reserve. | |
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