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King River Copper Ltd.
Summary
| Project: | Speewah | |
|---|---|---|
| Deposit: | Speewah | |
| Location: | Australia | |
| Commodities: | Fluorspar | |
| Date: | 10/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-10-2018: King River Copper Ltd. announces a Scoping Study report for its Speewah deposit at the Speewah project. Initial scoping study for Speewah fluorite project. King River Copper Limited (ASX: KRC) is pleased to provide this Scoping Study update on | |
| Resources: | (Resource, I+I): 6.7Mt @ 24.6% CaF2 at Speewah | |
| CP/QP: | [Overall Report]: Ken Rogers (Internal) | |
| ABSTRACT: | King River Copper Limited (ASX: KRC) is pleased to provide this Scoping Study update on its 100% owned Fluorite project at Speewah, located in the East Kimberley of Western Australia. KRC owns the Windsor fluorite deposit at Speewah with a combined Indicated and Inferred Mineral Resource of 6.7 million tonnes at 24.6% CaF2 (at 10% CaF2 cut-off grade), comprising Indicated Resource of 4.1 million tonnes at 25.3% CaF2 and Inferred Resource of 2.6 million tonnes at 23.6% CaF2 (refer KRC ASX release 23 February 2018). The deposit is located on existing King River Copper mining leases. At a product price of AU$625/t acid grade fluorspar, the project comprises an open-pit mining operation with a stripping ratio of 4.0, to support a dense medium separation and flotation processing plant operating at a rate of 800,000 tonnes per year. The study demonstrates a project cashflow that supports continued investment in developing the project. When testing for sensitivity, it was found that after a 20% reduction in product price to AU$500/t acid grade fluorspar, the project returned a positive cashflow and an acceptable return on investment. The scope of work for the PFS includes appointment of a project manager; confirmation of processing options and optimisation; geotechnical analysis; optimum production rate selection; completion of environmental and social studies; hydrology study; capital and operating cost estimation, and market analysis including a memorandum of understanding (MOU) or an offtake agreement with potential buyers. The project layout showing the open pits, provision for waste dumps, process plant and tailings storage is illustrated in the following figure. | |
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