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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Hayes Creek | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 7/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 12-7-2017: PNX Metals Ltd. announces a Pre-Feasibility Study report for its Hayes Creek deposit at the Hayes Creek project. Pre-Feasibility study results incl. pre-tax NPV(10%) $133M, IRR of 73%, LOM of 6.5yrs. PNX Metals Limited (ASX:PNX) is pleased to a | |
| Resources: | (Resource, I+I): 4.07Mt @ 4.35% Zn, 1.81 g/t Au, 124 g/t Ag, 0.91% Pb and 0.25% Cu at project | |
| CP/QP: | [Resources]: Aaron Meakin, Andrew Bennett (CSA Global Pty Ltd.;Internal) | |
| ABSTRACT: | PNX Metals Limited (ASX:PNX) is pleased to announce the completion of a PFS for its Hayes Creek zinc-goldsilver Project, located 170km south of Darwin in the Pine Creek region of the Northern Territory (Figure 1). The PFS confirms the Project to be a high value, relatively low risk and technically strong development opportunity for the Company. Given these outcomes, the PNX Board has resolved to proceed immediately with a DFS, with baseline studies relating to long lead-time items such as the approvals process already underway. Completion of the DFS will require and is subject to further funding and the Company is evaluating a number of options in this regard. The proposed development is based on a steady state 450,000tpa processing rate with ore sourced from initial open pit mining operations at Mt Bonnie and subsequent underground mining operations at Iron Blow. In total, approximately 3 million tonnes of ore is forecast to be processed over an initial 6.5 year LoM of which 98% is classified as Indicated Mineral Resources and only 2% classified as Inferred. The PFS assumes construction of a purpose built processing plant with crushing, grinding, and flotation circuits to generate two valuable product streams, a zinc concentrate and a precious metals concentrate. The concentrates will be trucked to the Port of Darwin and then shipped to international markets for sale and smelting and refining. | |
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