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Venturex Resources Ltd.
Summary
| Project: | Sulphur Springs | |
|---|---|---|
| Deposit: | Sulphur Springs | |
| Location: | Australia | |
| Commodities: | Copper-Zinc-Silver | |
| Date: | 2/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 16-2-2017: Venturex Resources Ltd. announces a Pre-Feasibility Study report for its Sulphur Springs deposit at the Sulphur Springs project. Value Engineering Study results incl. pre-tax NPV (8%) of A$338M, IRR of 52%. Australian base metals developer Vent | |
| Resources: | (Reserve, Prob.): 7.28Mt @ 1.2% Cu, 3.5% Zn, 14.4g/t Ag (Open pit + Underground) | |
| CP/QP: | [Resources]: David Milton (Hardrock Mining Consultants Pty Ltd.) | |
| ABSTRACT: | Australian base metals developer Venturex Resources Limited (the “Company” ASX: VXR) is pleased to report highly encouraging results from a Value Engineering Study (VES) completed on its 100% owned Sulphur Springs Zinc-Copper Project in WA’s Pilbara. The Sulphur Springs Project includes the Sulphur Springs and Kangaroo Caves deposits and the associated tenements covering 27 km of the highly prospective Panorama trend. The VES represents a major advancement on the Feasibility Study completed by Venturex in December 2012 and a subsequent Optimisation Study in November 2015, outlining a robust development pathway with improved economics, a reduced risk profile and a lower capital cost. A key enhancement outlined in the VES has been the identification of the ability to potentially process inferred supergene ore located at the top of the Sulphur Springs deposit through the proposed flotation plant. This opens up the opportunity to mine and process high-margin nearsurface material at the front end of the production schedule, significantly improving project economics and capital payback. The VES demonstrates that Sulphur Springs is a highly robust base metals project which is well positioned for development, particularly against the backdrop of improving zinc and copper prices. The VES includes revised and more robust Resource models, more appropriate and lower cost mining methods and scheduling improvements that have resulted in operating and capital cost reductions. | |
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