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Sandfire Resources NL
Summary
| Project: | Springfield | |
|---|---|---|
| Deposit: | Monty | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 4/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 6-4-2017: Sandfire Resources NL announces a Feasibility Study report for its Monty deposit at the Springfield project. JV with Talisman Mining - Initial Ore reserve + feasibility study results. Sandfire Resources NL (ASX: SFR; “Sandfire”) is pleased to an | |
| Resources: | (Reserve, Prob.): 0.92Mt @ 8.7% Cu, 1.4g/t Au for 80kt Cu, 42koz Au contained at Monty | |
| CP/QP: | [Resources]: Ekow Taylor (Internal) | |
| ABSTRACT: | Sandfire Resources NL (ASX: SFR; “Sandfire”) is pleased to announce that the Feasibility Study (“Study”) on the Monty Copper-Gold Project (Monty Project), located 10km east of its 100%-owned DeGrussa Copper-Gold Mine in Western Australia (Figure 1), has been completed and approved by the Springfield Joint Venture. The robust technical and financial outcomes of the Study confirm the Monty Project’s suitability to be developed as an underground satellite source of high grade ore feed to supplement copper production from the existing DeGrussa mining operation. The Monty Project is part of the Springfield Unincorporated Joint Venture, which comprises participating interests of Sandfire (manager – 70% interest) and Talisman Mining Limited (ASX: TLM; “Talisman”) (30% interest). The Study was compiled by Sandfire with input from a number of key contributors, consultants and industry experts, as well as in-house Sandfire personnel. Early works have commenced for the development of the Monty deposit, including statutory approvals, design work and tendering for contracts. The Mining Lease for the Monty Project has been granted by the Department of Mines and Petroleum of Western Australia, and all other tenure has been granted with final development approvals expected by end-FY2017. Development of the box-cut is expected to commence during Q2 FY2018. Ore production is expected to commence in Q2 FY2019, with first stoping to follow soon after. | |
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