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Superior Lake Resources Ltd.
Summary
| Project: | Superior Lake | |
|---|---|---|
| Deposit: | Superior Lake | |
| Location: | Canada | |
| Commodities: | Zinc-Copper | |
| Date: | 4/23/2020 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-4-2020: Superior Lake Resources Ltd. announces a Optimisation Study report for its Superior Lake deposit at the Superior Lake project. Optimisation Study identifies multiple improvements to enhance project economics. Superior Lake Resources Limited (AS | |
| Resources: | (Reserves, Prob.): 1.96Mt @ 13.9% Zn, 0.6% Cu, 0.2g/t Au, 26.2g/t Ag | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Superior Lake Resources Limited (ASX: SUP) (“Superior Lake” or the “Company”) is pleased to provide an update regarding the Optimisation Study (“Optimisation Study” or “Study”) on the Company’s Superior Lake Zinc Project (“Project”) in Ontario, Canada. Following completion of the BFS (ASX Announcement 28 August 2019), which delivered robust financial returns (pre-tax NPV8 of A$224M), driven by exceptionally low operating costs (C1 US$0.35/lb) and low upfront capital expenditure (US$87M), the Company commenced work on options to further improve economics. The objective of the Study was to improve the economic returns but more importantly to further increase the Project’s debt carrying capacity. With the support of the BFS mining consultant, the Company investigated options for mining higher grade ore or increased tonnes in years one and two, aimed at improving the Project’s debt carrying capacity. Due to the geometry of the ore body, with the higher grade and wider ore zones at the bottom of the Pick deposit, the work primarily focused on increasing the mined tonnes, rather than grades. | |
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