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Lincoln Minerals Ltd.
Summary
| Project: | Kookaburra Gully | |
|---|---|---|
| Deposit: | Kookaburra Gully | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 11/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-11-2017: Lincoln Minerals Ltd. announces a Feasibility Study report for its Kookaburra Gully deposit at the Kookaburra Gully project. Feasibility Study results incl. pre-tax NPV (10%) Au$81M, IRR 33%. Emerging Australian graphite miner, Lincoln Mineral | |
| Resources: | (Reserve, Prob.): 1.3Mt @ 14.6% TGC for 0.196Mt contained at project | |
| CP/QP: | [Overall Report]: John Parker, Dwayne Povey (Internal) | |
| ABSTRACT: | Emerging Australian graphite miner, Lincoln Minerals Limited (ASX:LML) ("Lincoln" or “Company") is pleased to announce a positive economic outcome from its newly completed 35ktpa1 Feasibility Study (FS) for the Company’s 100%-owned flagship Kookaburra Gully Graphite Project (the “Project”) located on South Australia’s Eyre Peninsula. The outcomes of the FS demonstrated a robust Business Case for the Kookaburra Gully Graphite Project and substantially enhanced and de-risked the project’s development. Kookaburra Gully is planned to be in maiden production from 2019 with a mining lease already granted. The new FS has defined a Probable Ore Reserve for Kookaburra Gully of 1.34Mt at 14.6% Total Graphitic Carbon (TGC) at a cut-off grade of 8.5% TGC inclusive within a total Measured, Indicated and Inferred Mineral Resource of 2.03Mt at 15.2% TGC (cut-off grade 5% TGC). Only Measured and Indicated Mineral Resources within the proposed mine’s open-pit have been converted to an Ore Reserve. However, the current 10-year life-of-mine schedule also includes 0.53Mt of Inferred Mineral Resource at a cut-off grade of 8.5% TGC. NB. there is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration will result in the determination of Indicated Mineral Resources or that the production target will be realised. A Mineral Lease, ML 6460, was granted for the Kookaburra Gully Project on 3rd June 2016 and the project’s required Program for Environment Protection and Rehabilitation (PEPR) was lodged with the SA Department of Premier and Cabinet (DPC) on 29 September 2017. The PEPR details and formulates management plans for construction, operations, rehabilitation and closure and is a key final step for Government approval to commence project development and graphite mining at Kookaburra Gully. | |
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